Apple CEO Tim Cook Becomes A Billionaire For The First Time

CIOReviewIndia Team | Tuesday, 11 August 2020, 04:50 IST

Apple CEO Tim Cook Becomes A Billionaire For The First TimeThe CEO of Apple, Tim Cook becomes a billionaire for the first time as the Cupertino-based iPhone maker is now the world’s most valued company with $1.84 trillion, breaking every previous record.

Tim Cook’s net worth went-past the mark of $1 billion, giving him the official status of a billionaire.

Tim Cook is needed to miles for catching up with other CEOs on the Bloomberg Billionaires’ list which features Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion).

BBC reports, “Cook has 847,969 direct shares and took with him more than $125 million to home the previous year. It’s part of his pay package.”

Apple is now on the verge of becoming the first company to be valued at $2 trillion.

In the previous week, Apple went past Saudi Arabia’s state-owned oil company Saudi Aramco, becoming the world’s most valuable company.

Apple shares closed up 10.47 percent for becoming the world’s most valuable publicly-traded company with a strong earnings report, going past the largest oil producer in the world.

Because of the growing services and wearables business, Apple is all set to become the first company ever to claim the $2 trillion valuation mark.

Apple was also the first US company that crossed the $1-trillion mark in 2018.