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Tim Cook is a billionaire after 9 years as CEO of Apple



Apple’s market cap is currently around $ 1.9 trillion. According to data provider Refinitiv, the company’s shares have risen nearly 54% this year to nearly $ 451 per share, outperforming the broader market and S&P 500 technology sector, according to the supplier. Refinitiv data.

The world of technology has produced many billionaires, including the richest man in the world, Amazon (AMZN) founder Jeff Bezos, and Facebook (FB) co-founder Mark Zuckerberg, who is assessed by Bloomberg to be worth $ 100 billion or more.
But Cook’s new position is a rarity because he is not the founder of Apple. Google (GOOGL) For example, CEO Sundar Pichai is not among Silicon Valley̵
7;s richest people. But the co-founders of Google, Larry Page and Sergey Brin, who gave up the executive role in 2019, were valued at around $ 71.7 billion and $ 69.5 billion respectively.

Despite being the top CEO at Apple, Cook currently only directly owns “about 0.02% of Apple shares, worth about $ 375 million,” according to Bloomberg Billionaires, based on CEO’s net worth predictions. based on an analysis of the company’s legal records.

IPhone users will have to wait a few more weeks to receive their device this year
But over the years, Cook has also received major stock awards and other forms of compensation, adding to his estimated net worth.
Last year, Cook’s base annual salary was $ 3 million, according to an authorization filing by Apple. He is also on the board of directors at Nike (OF THE).
Apple recorded huge earnings last month, with revenue and profit both exceeding analyst estimates for the June quarter. The company also took the opportunity to announce a fourth share split. Giving away one can make the stock more attractive to investors.
Cook joined Apple in 1998 and took on a variety of senior roles before assuming his current position, including chief executive and vice president of worldwide sales and operations. He was appointed CEO in August 2011, after the famous co-founder Steve Jobs resigned. Jobs died a few weeks later from complications of pancreatic cancer.
Prior to joining Apple, Cook worked at Compaq and IBM (IBM).
In 2014, Cook made history by becoming the first Fortune 500 CEO to be publicly gay. The following year, he pledged to donate most of his wealth to charity.

– David Goldman contributed to this report.


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