As per market estimates, Apple CEO Tim Cook is now a billionaire. It’s not just Cook who has hit a milestone …Read More
Apple CEO Tim Cook has finally joined the billionaires club. As per a report by Bloomberg, Cook’s estimated net worth has breached the $1 billion mark. The report cites regulatory filings and market estimates to determine the Cupertino-based tech giant’s CEO.
It’s not just Cook who has hit a milestone as reports suggest that Apple too is on the verge of touching a historic number. Apple’s market value is set to touch a whopping $2 trillion.
Cook is one of those rare billionaires now who has made the cut without being a founder of the company that he currently heads. It might come as a surprise to many that Cook wasn’t amongst the billionaires till now. He, however, was the second highest paid CEO in the US in 2019, just behind Tesla CEO Elon Musk.
The Bloomberg report states that a huge chunk of Cook’s estimated wealth comes from “equity awards he’s received since joining Apple in 1998.”
When Cook took over as CEO of Apple in 2011, the company’s estimate market value was about $350 billion. According to Bloomberg, Cook owns more than 8.47 lakh shares of Apple, which are worth around $375 million. As per the calculations done by Bloomberg, Cook has added another $650 million to his net worth by “proceeds from previous share sales, dividends and other compensation.”
A recent report by The Wall Street Journal gave an insight into Cook’s leadership and how it is different — and at times alike — to that of Steve Jobs.
The report stated that Cook has followed one particular advice given by his predecessor. As per the report, Cook follows Jobs’ advice ever since he took over and that is: “don’t ask what I would do. Do what’s right.”
According to The Wall Street Journal, Apple under Cook has a more relaxed work environment than it was under Jobs, who was known to be quite a taskmaster. However, the report also says that just like Jobs, Cook is similarly demanding and extremely detail-oriented.