Apple Boss Tim Cook Joins The Billionaires Club

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Apple Chief Executive Tim Cook (Getty Images)

Apple Chief Executive Tim Cook has moved into the billionaire club as the tech firm’s share price continues to soar.

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 last year as part of his pay package.

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

CUPERTINO, CA – SEPTEMBER 09: Apple CEO Tim Cook shows off the new iPhone 6 and the Apple Watch during an Apple special event at the Flint Center for the Performing Arts on September 9, 2014 in Cupertino, California. Apple is expected to unveil the new iPhone 6 and wearble tech. (Photo by Justin Sullivan/Getty Images)

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.

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source: BBC

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