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Tuesday, 11 August 2020

Tim Cook, Apple CEO becomes a billionaire

Apple CEO, Tim Cook has become a billionaire after the Cupertino-based iPhone maker broke all previous records to become the world's most valued company at over $1.84 trillion.


According to Bloomberg Billionaires Index, the net worth of Cook has eclipsed $1-billion mark, officially making him a billionaire.

"Cook owns 847,969 shares directly and took home more than $125 million last year as part of his pay package," reports the BBC.

The milestone comes 9-years after Tim Cook took over from Steve Jobs, who died in October 2011.

Last week, Apple surpassed Saudi Arabia’s state-owned oil company Saudi Aramco to become the world’s most valuable company.

The massive earnings helped Apple shares closed up 10.47 percent to become the world’s most valuable publicly-traded company, surpassing the largest oil producer in the world.

Apple is now closing in on the milestone of being the first company to be valued at $2 trillion. Back in 2018, Apple was also the first US company to cross the $1-trillion mark.

However, Cook still has a long way to meet up with other CEOs on the Bloomberg Billionaires' list, like Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion).

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