Apple CEO Tim Cook is now officially a billionaire, according to a new Bloomberg report. The news comes via regulatory filings as Apple’s stock continues to rise.
Bloomberg’s Billionaires Index has Cook’s worth crossing the $1 billion park recently. The estimate was made based on a number of things, however, and it’s possible the real number is lower. Especially if Cook has made donations that haven’t been declared.
Cook’s net worth estimate is based on an analysis of regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales. Cook, 59, said in 2015 that he plans to give most of his fortune away and has already gifted million of dollars worth of Apple shares. His wealth could be lower if he’s made other undisclosed charitable gifts.
A CEO crossing the $1 billion mark is unusual unless they are a founder of the company they run. Cook obviously wasn’t a founder of Apple – that was Steve Jobs and Steve Wozniak, of course – but it’s fair to say Cook has overseen some of Apple’s most successful years.
Cool reportedly owns 847,969 Apple shares, worth around $375 million. The rest of the money comes from other compensation related to performance and whatnot.
Bloomberg says that Apple declined to comment on Cook’s personal wealth. Unsurprisingly.
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