Half of Craig Federighi's Net Worth Comes From Apple Shares
Federighi’s net worth of $200 million mainly comes from the more than 500,000 shares of Apple stock he owns, which is worth about $100 million.
June 8 2021, Published 9:40 a.m. ET
Apple Inc. has made Craig Federighi a wealthy man. Federighi, 52, is currently Apple’s senior vice president of software engineering. His job is to oversee the development of Apple’s iOS and macOS operating systems.
Federighi’s net worth of $200 million mainly comes from the more than 500,000 shares of Apple stock he owns, which is worth about $100 million. His annual salary at Apple is $227,000.
Who is Craig Federighi?
Born and raised in Alameda, Calif., Federighi received his bachelor’s degree in electrical engineering and computer science and a master’s degree in computer science from the University of California, Berkeley.
Federighi met Apple founder Steve Jobs when he worked with Jobs at NeXT Computer. Jobs started NeXT after he was forced out of Apple in 1985 in a power struggle with the company’s board and then-CEO John Sculley.
NeXT computers never took off like Apple did. The company only sold about 50,000 units. In 1997, Apple purchased the company for $429 million and 1.5 million shares of Apple stock.
Federighi, who led the development of the NeXT Enterprise Objects Framework, followed Jobs to Apple but left a few years later to take the position of chief technology officer at the e-commerce company Ariba.
Federighi returned to Apple in 2009 to lead the macOS engineering. At that time, things were starting to move for the company. In 2007, Apple introduced the iPhone, which revolutionized the mobile phone world.
In 2010, Apple also introduced the iPad. That same year, Apple surpassed rival Microsoft in both revenues and stock market value.
In 2012, Federighi was promoted to his current role as senior vice president. He reports directly to Apple CEO Tim Cook.
Federighi, who was nicknamed “Hair Force One” by his coworkers, is well known for his energetic presentations for new Apple software.
Craig Federighi helps introduce new Apple products and privacy features.
At Apple’s annual Worldwide Developer’s Conference that kicked off on June 8, Federighi helped introduce the company’s new products like iOS 15, iPadOS 15, macOS Monterey, WatchOS 8, and iCloud Plus subscription service.
Privacy is the name of the game for Apple’s new products. “Privacy has been central to our work at Apple from the very beginning,” said Federighi in a company press release. “Every year, we push ourselves to develop new technology to help users take more control of their data and make informed decisions about whom they share it with. This year’s updates include innovative features that give users deeper insights and more granular control than ever before.”
Three new privacy features added to Apple products include:
iCloud Private Relay, which allows users to connect to and browse the web more securely and privately
Hide My Email, which lets users share unique, random email addresses that forward to their inbox instead of giving their real one away
HomeKit Secure Video expansion, which allows an unlimited number of connected security cameras to store footage on the user’s iCloud account without counting toward storage limits