In Steve Jobs' Shoes, Tim Cook Led Apple to a $3 Trillion Market Cap; Here's His Own Net Worth
|Net Worth||$1.9 Billion|
|Annual Income||$99.4 Million|
|Source of Income||Position as Apple CEO|
|Date of Birth||November 1, 1960|
What is Tim Cook's net worth?
Having led tech giant Apple successfully after the demise of founder Steve Jobs, its CEO Tim Cook has clocked a net worth of $1.9 billion in more than two decades at the firm. His journey with Apple began as Senior Vice President of Worldwide Operations, and he ascended to the position of CEO in 2011 as successor to the iconic Steve Jobs. Cook had been at IBM for 12 years before joining Apple, and was dubbed inventory genius. An MBA from Duke University, Cook became known for maintaining high profit margins at Apple.
When Cook assumed the role of CEO in 2011, Apple's market cap was around $350 billion. However, under his guidance, the company's market cap has soared beyond $2.4 trillion, as per CelebrityNetWorth.
What are his sources of income?
Cook's primary sources of income include his base salary, annual bonuses, and more than 837,000 vested shares in Apple. His base salary is $3.4 million, supplemented by an annual bonus that typically ranges between $8 to $12 million. Moreover, he receives substantial stock option grants that vest over time, contributing significantly to his earnings.
The new MacBook Air is the world’s best — and thinnest — 15-inch laptop. It’s in a class all its own! pic.twitter.com/NRAePMPkE5— Tim Cook (@tim_cook) June 6, 2023
His salaries and ventures
In 1998, Tim Cook joined Apple as Senior Vice President for worldwide operations, facing a challenging era for the company, his salary was $500K annually. Despite initial doubts, his strategic decisions, including factory closures and partnerships, led to substantial profit growth. This journey culminated in his appointment as COO, before being handed the reins as CEO in 2011. With Steve Jobs as CEO before him, Cook helped steer Apple from less than $6 billion to over $100 billion in revenue.
What an incredible WWDC! Thank you to developers from around the world who joined us in person and virtually for a truly unforgettable week! pic.twitter.com/jbZSSxaVjD— Tim Cook (@tim_cook) June 9, 2023
In 2013, Tim Cook participated in a private summit led by President Barack Obama, discussing surveillance and the internet following the Edward Snowden incident. In 2015, after the San Bernardino terrorist attack, Cook vehemently opposed the FBI's request for Apple to unlock an iPhone, citing privacy concerns and potential threats to public safety.
Total assets and real estate
Despite his status as one of the world's top-paid business leaders, Tim Cook resides in a surprisingly unassuming 2,400 square-foot residence in Palo Alto, California. He acquired it in 2010 for $1.8 million, just prior to assuming the role of CEO, and in 2018, Cook invested $10.1 million for a sprawling 10,000 square-foot property within the prestigious Madison Club in La Quinta, California.
His social media following
|14.2 Million followers|
Tim Cook is known for his reserved and private nature, and publicly came out as gay in 2014, which was the first for a Fortune 500 CEO. He has been a staunch advocate for LGBTQ rights and has used his platform to inspire inclusivity and acceptance.
Awards and recognition
Tim Cook's contributions to the tech industry and Apple's success earned him a place on Time Magazine's list of 100 Most Influential People in the World in 2012.
When did Tim Cook become the CEO of Apple?
Tim Cook became the CEO of Apple in August 2011, succeeding Steve Jobs.
How did Tim Cook's leadership impact Apple's financial growth?
Under Tim Cook's leadership, Apple's market capitalization increased from $350 billion in 2011 to over $2.4 trillion in the present day.
What is Tim Cook's educational background?
Tim Cook holds a degree in Industrial Engineering from Auburn University and an MBA from Duke University.