Apple’s market cap is currently about $ 1.9 trillion. Its shares have risen nearly 54% so far this year to nearly $ 451 each, surpassing the broader market and technology sector S&P 500, according to data provider Refinitiv.
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 brings together Bloomberg as $ 100 billion or more.
But Cook’s new status is rare because he is not the founder of Apple. Google (googl)
CEO Sundar Pichai, for example, not one of Silicon Valley̵
7;s richest players. But Google co-founders Larry Page and Sergey Brin, who resigned from their executive roles in 2019, are worth $ 71.7 billion and $ 69.5 billion, respectively.
Despite being Apple’s top executive, Cook currently owns only directly “about 0.02% of Apple shares, valued at about $ 375 million,” according to Bloomberg Billionaires, which based its CEO’s net worth projection on a analysis of company regulatory records.
But over the years, Cook has also received significant stock prices and other forms of compensation, which add to his valued wealth.
Last year, Cook’s annual base salary was $ 3 million, according to a power of attorney made by Apple. He is also on the board of directors at Nike (The).
Apple recorded blockchain revenue last month, with revenue and profits both shaking analysts’ estimates for the quarter ended June. The company also took the opportunity to announce a four-for-one share split that could make the shares even more attractive to investors.
Cook joined Apple in 1998 and served in a range of senior roles before taking his current position, including chief operating officer and chief executive of sales and operations worldwide. He was named CEO in August 2011 after co-founder Steve Jobs retired famously. Jobs died weeks later from complications of pancreatic cancer.
Prior to joining Apple, Cook worked at Compaq and IBM (IBM).
In 2014, Cook made history for becoming the first CEO of the Fortune 500 to emerge gay. A year later, he vowed to donate most of his fortune to charity.
– David Goldman contributed to this report.