Tim Cook's Net Worth Surpasses $1 Billion Mark
Apple CEO Tim Cook has likely surpassed $1 billion in net worth, according to Bloomberg's calculations. The estimate is based on regulatory filings and Apple's market performance under Cook's leadership over the past nine years.
Cook went from being appointed CEO by Steve Jobs in 2011, when Apple's market value was $348 billion, to leading the company through significant growth, with its current market value nearly six times as much.
The billionaire status is 'far from exact' due to factors such as charity contributions and other financial considerations. Bloomberg applied a typical wealthy investor's market performance to Cook's stock sales to arrive at the estimate.
Cook will receive 560,000 Apple shares this month, worth approximately $252.5 million, if Apple's stock price doesn't decline drastically. In 2015, Cook stated his intention to give away most of his fortune before his passing.