Tim Cook Net Worth

Tim Cook Net Worth

Tim Cook is an American enterprise govt who has a net worth of $1.9 billion. He is greatest identified for being the CEO of Apple Inc. As CEO, Tim earns a base salary of $99.4 million. So for instance in 2023, on high of his salary and bonuses, Tim earned $754 million worth of vested shares, bringing his whole comp for the 12 months to around $98.7 million.

Outside of regular compensation, in a mean of 12 months Tim advantages from roughly $500,000 worth of private safety bills paid for by Apple. He can also be required to fly privately for all private and enterprise journeys. Those flight prices come to around $315,000 per 12 months.

How Many Shares of Apple Does Time Own?

As of this writing, Tim controls 0.021% shares of Apple. In February 2020 when Apple shares have been buying and selling at $320, Tim’s stake was worth around $280 million. His compensation plan will ultimately award him lots of of thousands and thousands of {dollars} worth of shares which are at present un-vested but are technically “owned” by Tim. He is the corporate’s second-largest particular person shareholder behind Board Chairman Arthur Levinson who has 1.1 million shares. Levinson has served on the Board since 2000. The third largest particular person shareholder is Senior VP of Software Engineering, Craig Federighi, who has 412,000 shares as of this writing.

Early Life:

Timothy Donald Cook was born November 1, 1960, in Mobile, Alabama. His father (Donald) was a shipyard employee and his mom (Geraldine) labored at a pharmacy. He was raised close to Robertsdale. Cook attended Robertsdale High School and went on to earn a level in Industrial Engineering from Auburn University in 1982. In 1988, Cook earned his Master of Business Administration from Fuqua School of Business at Duke University.

Early Career:

Straight out of faculty, Tim Cook was employed by IBM the place he moved up the ranks to turn into the pc company’s North American Fulfillment Director, managing manufacturing and distribution capabilities for IBM’s Personal Computer Company in North America and Latin America. Following a 12-year profession at IBM, Cook turned a chief working officer (Reseller Division) at Intelligent Electronics. He then served for six months as Vice President of Corporate Materials for Compaq, purchasing and managing product stock.

Apple:

Cook’s subsequent job, in 1998, could be as Apple’s Senior Vice President for worldwide operations, the place he could be liable for managing all gross sales and operations worldwide, together with gross sales actions, and repair and help. Tim joined Apple at a bleak time for the corporate, earlier than it had developed the iMac, iPod, iPhone, or iPad. It was seeing declining income and no revenue development.

In a try to start out turning revenue once more for the corporate, Cook closed Apple factories and changed them with contract producers, and invested in long-term offers like advance funding in flash reminiscence. He was additionally the chief of the corporate’s Macintosh division and created reseller/provider relationship methods. During this time, Steve Jobs, founder, and CEO of Apple, was on a health-related go away of absence. In January 2011, Jobs requested one other go away of absence, and through this time Tim was liable for working operations at Apple day-to-day.

Jobs ultimately resigned as CEO, and, in August 2011, Cook was named Apple’s new CEO. Steve Jobs handed away simply two months later, in October 2011, after a battle with most cancers. With the partnership that they had created. They had rescued the corporate from a downward spiral and took it from lower than $6 billion in income in 1998 to over $100 billion.

He was awarded a million shares in 2012 by Apple’s board of administrators. Cook stated he deliberate to donate his complete inventory fortune to charity. In May 2014, Apple introduced the acquisition of Beats Music and Beats Electronics for $Three billion, its greatest acquisition. Apple unveiled the iPhone 6 in the summertime of 2015.

Other Ventures:

Cook attended a personal summit hosted by President Barack Obama in 2013 in regard to surveillance and the web in the aftermath of the incident involving the National Security Agent and Edward Snowden. Following the terrorist assault in San Bernardino, CA in December 2015, the FBI solicited Apple to help in unlocking an iPhone utilized by one of many attackers. The Department of Justice later ordered Apple to create customized firmware for iOS that might permit investigators to unlock any iPhone for gathering proof. Cook denounced the calls for in an open letter as a breach of privacy that might have “chilling” penalties for public privacy and security.

The size of his time period shall be three years. He has been on the board of administrators for Nike, Inc. in addition to the National Football Foundation. He owns $3.four million worth of shares of Nike.

Personal Life:

Cook is understood as being a solitary, very non-public particular person. He was the primary Chief Executive at a Fortune 500 firm to determine publicly as homosexual and he did so in 2014 in an editorial for Bloomberg Business.

Cook donated to the presidential campaigns of Barack Obama and Hillary Clinton. At one level, Clinton thought of Tim as a working mate in her 2016 marketing campaign.

Real Estate:

Despite being one of many highest-paid enterprise executives on the earth. Tim lives in a surprisingly modest 2,400 square-foot house in Palo Alto, California.

Tim Cook Salary:

When Tim first turned CEO of Apple in 2011, his salary was $99.4 million per 12 months. Today his base salary is $99.4 million. As we talked about beforehand, he sometimes earns a bonus of $8 – 12 million and will be awarded lots of thousands and thousands worth of choices.

Tim has introduced that he plans to present the overwhelming majority of his cash away to charity when he dies.