Global News

Apple CEO, Tim Cook Officially Becomes A Billionaire

Apple CEO, Tim Cook Officially Becomes A Billionaire (Updated: Thursday, 13th August 2020, 11:08 AM)


Tim Cook, the Chief Executive Officer of multinational tech company - Apple, has joined the billionaires club as he officially becomes a billionaire.

Apple’s market value has been on the rise following strong results and the upbeat outlook for tech giants.

Mr Cook owns 847,969 shares directly and took home more than $125m (£96m) last year as part of his pay package.

Last week, Facebook founder Mark Zuckerberg saw his personal wealth hit $100bn (£76bn).

Technology companies including Apple, Facebook and Amazon have seen their profits grow during the coronavirus pandemic as more people went online.

Silicon-Valley based Apple is now closing in on the milestone of being the first company to be valued at $2tn. Two years ago it become the first company to be valued at $1tn.

Mr Cook took over from Apple founder Steve Jobs nine years ago. His billionaire status is based on the shares he owns and the compensation he has been paid at Apple, and calculated by the Bloomberg Billionaires Index.

In 2015, he said he planned to give most of his fortune away and has already donated million of dollars worth of Apple shares.

Facebook’s Zuckerberg has made a similar pledge to give away the majority of his shares.

Mr Zuckerberg, along with Amazon’s Jeff Bezos and Tesla’s Elon Musk, accrued their wealth from the huge stakes in the companies they founded.

In comparison, Mr Cook’s stake in Apple is minuscule at about 0.02%.

Based on US federal and state taxes for California, Mr Cook would face a tax rate of just over 50%, as a top-bracket earner.

Watches and music

While Apple has not revealed any new products as groundbreaking as its iPhone, the company has still thrived since Mr Cook took over the reins.

He has overseen the development of devices such as the iPhone X and Apple Watch, along with new services like Apple Music.

Add a coment

Recent Posts

Zoro
Zoro
Killertunes
Killertunes
DJ Cuppy
DJ Cuppy
Barry Jhay
Barry Jhay
Naira Marley
Naira Marley
Magnito
Magnito
Mz Kiss
Mz Kiss
Oritse Femi
Oritse Femi
Illbliss
Illbliss
Drizz Ace
Drizz Ace
Terri
Terri
Reekado Banks
Reekado Banks
Falz
Falz
Umu Obiligbo
Umu Obiligbo
Otile Brown
Otile Brown
Patapaa
Patapaa
Mr Real
Mr Real
DJ Lambo
DJ Lambo
Philkeyz
Philkeyz
Junior Boy
Junior Boy
Cheque
Cheque
DJ Baddo
DJ Baddo
Efe
Efe
Kabex
Kabex
Ayanfe Viral
Ayanfe Viral
Ichaba
Ichaba
Pheelz
Pheelz
Wale Turner
Wale Turner
King Perry
King Perry
Future
Future
Ibraah
Ibraah
Terry Apala
Terry Apala
Koker
Koker
Yemi Alade
Yemi Alade
Dapo Tuburna
Dapo Tuburna
Kizz Daniel
Kizz Daniel
DJ Jasz
DJ Jasz
Jhybo
Jhybo
Don Jazzy
Don Jazzy
JamoPyper
JamoPyper
NAIJAKIT.COM