Apple CEO Tim Cook Hits Billionaire Status Unlike several other big tech CEOs, Cook is not a founder-CEO, so his net worth is considerably lower than some of his peers.

By Shona Ghosh

This story originally appeared on Business Insider

Marcio Jose Sanchez/AP via BI
Apple CEO Tim Cook.

Apple CEO Tim Cook has hit billionaire status, according to an analysis by Bloomberg.

His $1 billion-plus net worth reflects a mix of the money he's earned at Apple through his salary, the number of shares he holds in the company, and the estimated proceeds from his share sales, per Bloomberg.

Cook took the top job at Apple in August 2011, taking over from longtime CEO and founder Steve Jobs.

He was a longtime Jobs lieutenant, signing onto the company in 1998 as SVP of worldwide operations, striking critical deals with manufacturers to help Apple become a hardware powerhouse. As a relatively unknown exec, industry watchers questioned whether he could fill Jobs' shoes, but Apple has approached a near $2 trillion market cap on his watch.

Cook currently holds 847,969 Apple shares, which at the current stock price are worth more than $380 million. In 2019, Cook's compensation package included a $3 million base salary and around $7.6 million in incentive pay, making him one of the highest-paid CEOs in the US.

An SEC filing from January indicates he sold off 6,880 Apple shares at the end of December, which would have netted him around $2 million.

As an executive who rose up Apple's ranks, Cook is less wealthy than other famous big tech CEOs.

The three wealthiest people in the world are all tech founders: Amazon boss Jeff Bezos, with a net worth of $186 billion; Microsoft founder Bill Gates at $121 billion; and Facebook founder-CEO Mark Zuckerberg, who has a net worth just shy of $100 billion.

Other notable execs-turned-CEOs of major tech companies are Microsoft CEO Satya Nadella and Google CEO Sundar Pichai, neither of whom appear on Bloomberg's billionaire index.

Shona Ghosh

Senior Reporter

Editor's Pick

Related Topics

Business News

'Do You Hate Me?': High School Teacher Shares Wild Emails He Receives From Students

Jordan Baechler teaches high school students in Ontario, Canada.

Business News

He Won the $2 Billion Powerball Jackpot. Now He's Snatching Up Swanky Homes Across Los Angeles.

Thirty-one-year-old Edwin Castro took his winnings as a lump sum.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

Too many entrepreneurs are counting too heavily on a company exit for their eventual 'win.' Do this instead.

Business News

Aaron Rodgers Is Out For The Season — What Happens to His Salary and Endorsement Deals?

The QB suffered a season-ending Achilles tendon tear just four plays into his first game as a New York Jet.

Business News

Apple Asks This Jarring Interview Question as a Secret Way to Evaluate a Candidate

The tech company has unique strategies they employ when evaluating potential candidates. Here's a look at three.

Business Ideas

55 Small Business Ideas to Start in 2023

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2023.