Apple Boss, Tim Cook Joins the Billionaire Group as the Company’s Valuation Reaches Historic High

Cook took Apple to new heights after the death of Steve Jobs

Apple CEO Tim Cook’s net worth has crossed the $1 billion (roughly Rs.7,500 crores) mark, making him part of the elite billionaire club – a rare feat for a non-founder CEO, as per an analysis. Apple’s share price rose almost 5 percent last week, bringing the company close to a historic $2 trillion (roughly Rs.149 lakh crores) in valuation. Under Cook, Apple recently became the world’s most valued publicly traded company, surpassing state-owned oil company Saudi Aramco.

As per the analysis by Bloomberg, Tim Cook’s net worth eclipsed $1 billion, according to calculations by the Bloomberg Billionaires Index. The index is a daily ranking of the world’s richest people, updated at the close of every trading day in New York. CEO of Amazon, Jeff Bezos, tops the list at $186 billion (roughly Rs.14 lakh crores), followed by former Microsoft CEO Bill Gates at $121 billion (roughly Rs.9 lakh crores), and Facebook’s Mark Zuckerberg at $99 billion (roughly Rs. 7 lakh crores). Cook’s net worth, as calculated by the Index, is based on an analysis of regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales, as per the analysis.

When Apple founder Steve Jobs died, the company was valued at about $350 billion (roughly Rs. 26 lakh crores), as per a report. But now, under Cook, Apple has become the world’s most valuable publicly traded company, surpassing state-owned oil company Saudi Aramco. After Apple bought back $16 billion (roughly Rs.1 lakh crores) worth of shares in the June quarter, it had 4,275,634,000 outstanding shares, as of July 17, according to the filing.

In a 2015 interview, Cook had stated that he plans to give most of his fortune away, and has already gifted millions of dollars-worth of Apple shares, as per the report. If Cook has made other undisclosed charitable gifts, his wealth could be lower than the current calculations.