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Tim Cook is now a billionaire, but not Jeff Bezos

A new analysis of Bloomberg believes that the net worth of Apple CEO Tim Cook has exceeded the $ 1 billion mark, officially making him a billionaire. It really is an impressive number, but guess what only over a billion dollars, he has a long way to go before he picks up the other CEOs Bloomberg Billionaires list. Jeff Bezos, CEO of Amazon, tops the list to $ 187 billion, followed by former Microsoft CEO Bill Gates to $ 121 billion and Mark Zuckerberg on Facebook to $ 102 billion. Tesla’s CEO Elon Musk is only No. 10 on the list, but he too is far ahead of Cook at $ 68.7 billion.

Yes, this is obscene money, and it̵

7;s hard to understand how rich Bezos is (especially during a pandemic with 10 percent unemployment and evaporating economic relief). Who cares? It’s a bunch of rich guys getting richer, right? These are the guys – and the list is overwhelmingly men; The first woman on the list is Alice Walton at No. 16, with $ 57.1 billion – who runs the world’s most valuable business and affects our lives in many ways. As the reporter Kashmir Hill has documented, it is almost impossible to completely extract from the economy that Google, Amazon, Facebook, Microsoft and Apple have built.

Cook is a bit of an unusual case among the three comma clubs, as he did not find Apple, and it is rare for any non-founder to become a billionaire. But Cook undoubtedly built Apple into the world’s most valuable listed company and beat Saudi Arabia’s state oil company in July. Cook worked his way up through the company and rebuilt his supply chain using “just-in-time” manufacturing principles, such as reducing inventory, after Steve Jobs hired him from Compaq to become Apple’s COO. On most accounts, Cook has taken a more measured, cautious approach than his predecessor, but Apple’s revenue and profits have both more than doubled since he became CEO.

How that legacy from Apple-building will hold up over time is not clear; Right now, Apple and other companies with large manufacturing operations and customer bases in China are trying to determine how President Trump’s ban on certain Chinese companies will affect them. But Apple is rolling with time at the moment; Its recent third quarter revenue showed that it is booming in the midst of the pandemic that has lost many other companies. In the third quarter, Apple had $ 59.7 billion in revenue, up 11 percent from a year ago. And it’s approaching a market price of $ 2 trillion.

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