Apple CEO Tim Cook’s net worth has risen to over $ 1 billion, according to estimates by BloombergBillionaires Index.
With a net worth of $ 1 billion, Cook does not count the world’s 500 richest people, a list topped by Amazon CEO Jeff Bezos and former Microsoft CEO Bill Gates. According to Bloomberg, Cook’s net worth was calculated using government records and market results.
When former Apple CEO Steve Jobs died in 2011, Apple was valued at about $ 350 billion, and the company has grown significantly under Cook’s leadership. Much of Cook’s fortune comes from dividends provided when he took over as CEO. He was rewarded with limited inventory units that have transferred over time and have received additional inventory dividends because Apple has outperformed at least two-thirds of the companies in the S&P 500.
Later this month, Cook will receive his ninth payout, which will include 560,000 shares of Apple stock and should increase his net worth by about $ 100 million.
Cook has previously said he plans to donate most of his money to charity and that he is developing a “systematic approach to philanthropy.” In recent years, Cook has donated $ 5 million in stock to various charities on an annual basis, although the charities have gone unnamed and it is unclear if there have been other undisclosed donations.