Apple’s market cap is currently about $ 1.9 trillion. Shares have risen nearly 54% to nearly $ 451 each so far this year, outperforming the broader market and the S&P 500 tech sector, according to data provider Refinitiv.
The tech world has produced many billionaires, including the richest man in the world, Amazon (AMZN) founder Jeff Bezos, and Facebook (FB) co-founder Mark Zuckerberg, who picks Bloomberg as worth $ 100 billion or more.
But Cook’s new status is a bit of a rarity, as he is not the founder of Apple. Google (GOOGL) CEO Sundar Pichai, for example, is not among the richest players in Silicon Valley. But the co-founders of Google, Larry Page and Sergey Brin, who gave up their executive roles in 2019, are worth about $ 71.7 billion and $ 69.5 billion, respectively.
Despite being the CEO at Apple, Cook currently only directly owns “about 0.02% of Apple shares, worth about $ 375 million,” according to Bloomberg Billionaires, which based its projection of the CEO’s net worth on a analysis of the company registration record.
But over the years, Cook has also received significant share prices and other forms of compensation, which add to his estimated wealth.
Last year, the annual base salary was $ 3 million, according to a proxy entry made by Apple. He also sits on the board of directors Nike (NKE).
Apple recorded blockbuster earnings last month, with revenue and earnings both hitting analytical estimates for the quarter ended June. The company also took the opportunity to announce a stock-for-one stock split that could make the shares even more attractive to investors.
Cook joined Apple in 1998 and served in a variety of senior roles before assuming his current position, including Chief Operating Officer and Executive Vice President of Global Sales and Operations. He was appointed CEO in August 2011, after co-founder Steve Jobs resigned. Jobs died weeks later from complications of pancreatic cancer.
Before joining Apple, Cook worked at Compaq and IBM (IBM).
In 2014, Cook made history by becoming the first CEO of Fortune 500 to come out as gay. The following year, he promised to donate most of his wealth to charity.
– David Goldman contributed to this report.
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