Tim Cook, the CEO of Apple, is now a billionaire – here’s why that matters
Really surprised it took this long.
Almost a decade after Tim Cook was appointed as the CEO of Apple, he has entered the popular “three comma club.” For those unfamiliar with this popular pop culture reference, the three comma club is a synonym for a person whose net worth is over a billion dollars.
Recently, Apple’s shares increased a massive 54% and are inching close to $451 per share. Based on the data, Apple’s market cap is set at about $1.9 billion. That speaks volumes about Cook’s leadership and the fact that they have outperformed the S&P 500 Tech Sector and the broader market.
Now and then, the tech world pops out a new billionaire. There is nothing strange about that as the world’s richest man, the founder of Amazon, Jeff Bezos, belongs to the billionaire club. Another prime example is Facebook’s co-founder Mark Zuckerberg, whose net worth is considered to be a bit north of 100 billion.
What makes Tim Cook’s status unique is the fact that he is not the founder of Apple.
One way to understand Cook’s unique situation is through the instance of Sundar Pichai, the CEO of Google
Many assume that Sundar is a billionaire considering the value of Google, but he is not among the richest players in the valley. Simultaneously, Google’s co-founders Sergey Brin and Larry Page, who are no longer executives in the company, are worth about $70 billion each. That’s $150 billion between Larry and Page.
Currently, Cook owns around 0.02% of Apple shares that are worth approximately $375 million. According to Bloomberg Billionaires, Cook’s leadership has been rewarded with considerable stock awards and other means of compensation throughout the years. Then, his annual base salary was set at $3 million and the revenue that he earned for sitting on the board of directors at Nike. That’s pretty much how Tim Cook accumulated his wealth.
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