Tim Cook, Apple CEO has recently achieved billionaire status, according to a Bloomberg report.
The Bloomberg Billionaires Index showed how Cook reached the $1B threshold, a value that’s based on market performance estimations and regulatory filings. Furthermore, the analysis made mention that Cook’s net worth could be lower if he’s already made charitable gifts.
Most of the wealth came from equity awards from when Cook began working for the company in 1998. Restricted shares were given and he’s on track to receive the 9th payout award this month.
Cook owns about 0.02 percent of Apple shares that are worth $375 million. Compensation, dividends and share sale proceeds add another $650 million, which brings it to the $1B mark. Another $100 million should be added later this August.
In light of this, Apple stock has gone up to about 5%, putting the company at a $2 trillion market value. The time Apple reached $1 trillion was 2 years ago.