Apple's Chief Tim Cook joins the billionaires club

Apple's Chief Tim Cook joins the billionaires club

Apple CEO Tim Cook has for the first time become a billionaire as the Cupertino-based iPhone maker broke all previous records and is now the world's most valued company at over $1.84 trillion.

The net worth of Cook has crossed the $1-billion mark, officially making him a billionaire.

Cook, however, still has a long way to go to catch up with other CEOs on the Bloomberg Billionaires' list, like Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion).

"Cook owns 847,969 shares directly and took home more than $125 million last year as part of his pay package," reports the BBC.

Apple is now closing in on the milestone of being the first company to be valued at $2 trillion.

Last week, Apple surpassed Saudi Arabia's state-owned oil company Saudi Aramco to become the world's most valuable company.

The strong earnings report helped Apple shares closed up 10.47 percent to become the world's most valuable publicly-traded company, surpassing the largest oil producer in the world.

Riding on its growing services and wearables business, Apple is set to become the first company ever to touch the $2-trillion valuation mark.

Apple was the first US company to cross the $1-trillion mark in 2018.

Source: IANS

Published on: Aug 11, 2020 12:15:35

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