Tim Cook Net Worth, Biography Age, Family, wiki, And Life Story What is Tim Cook's Salary and Net Worth? Tim Cook is an American busin...
.jpeg)
Tim Cook Net Worth, Biography Age, Family, wiki, And Life Story
What is Tim Cook's Salary and Net Worth?
Tim Cook is an American business leader who is best known for being the CEO of Apple Inc. He started working there in 1998 and became CEO in 2011. Tim Cook has a net worth of $1.5 billion as of this writing. Under past CEO and company founder Steve Jobs, Apple's market capitalization peaked at $350 billion. When Tim became CEO in 2011, a lot of people wondered how he could do better than his genius predecessor. Now, Apple's market capitalization is more than $2.4 trillion. If you had spent $1,000 on Apple shares on the day Tim Cook became CEO, you would have had $13,000 ten years later. Tim has said that he wants to give away most of his money before he dies. He has already given tens of millions of dollars to different causes.
Category:
Richest Business › CEOs
Net Worth:
$1.5 Billion
Date of Birth:
Nov 1, 1960 (62 years old)
Place of Birth:
Mobile
Gender:
Male
Height:
6 ft 2 in (1.9 m)
Profession:
Businessperson
Nationality:
United States of America
Pay and Benefits
Tim Cook Net Worth Tim's pay was $500,000 a year before he was named CEO. That was when he was Senior Vice President of Worldwide Operations at Apple. In 2011, when Tim Cook became Apple's CEO for the first time, his pay was raised to $900,000. Tim's base pay is now $3.4 million, and he gets an annual bonus of $8–$12 million on top of that.
Tim also gets a pay and a bonus, but he also gets big chunks of Apple options that he can use over time. In a given year, his earned shares are added to his revenue. So, for example, Tim made $113.5 million in vested shares on top of his salary and bonuses in 2019. This brought his total pay for the year to around $125 million. Tim made a total of $963.5 million from Apple between 2011 when he was named CEO and 2020. Aside from his regular pay, Apple pays about $500,000 a year for Tim's personal protection. He also has to take a private plane for all of his work and personal trips. The total cost of these flights is about $315,000 per year.
Tim Cook owns how many shares of Apple?
On the day Tim became CEO, he was given a lot of options that would become valid in 10 annual chunks. Since he got the first chunk right away, only 9 of the 10 tranches actually became valid over time. Part of his grant was based on how well he did. Those shares would only be given out if Apple did better than two-thirds of the S&P 500. He has reached each and every achievement goal. In August 2020, he got his ninth grant, which was worth about 560,000 shares. About half of these shares are set aside to pay an expected tax debt at their price per share in August 2020. Before Apple's stock split, each share was worth $450, so the 280,000 shares Tim got were worth $126 million at that price.
Besides the 560,000 shares he will get in August 2020, Tim already has 847,969 shares of Apple that are fully paid for. When Apple shares were worth $320 each in February 2020, this piece was worth about $280 million. When Apple's share price hit $450 in August 2020, that stake was worth $380 million.
Tim is the second biggest individual shareholder in the company. He has about 0.02% of the business. Board Chairman Arthur Levinson, who owns 1.1 million shares, is the person with the most shares. Since 2000, Levinson has been on the Board. As of this writing, Senior VP of Software Engineering Craig Federighi has 412,000 shares, making him the third biggest individual shareholder.
In August 2021, Time got his tenth and final payment from the original plan. At that time, the shares he bought were worth
Billionaire Status
Tim Cook became a billionaire when he got his ninth and biggest performance stock grant of 560,000 shares in August 2020.
Early Years
Tim Donald Cook was born in Mobile, Alabama, on November 1, 1960. Donald, his father, worked in a shipyard, and Geraldine, his mother, worked in a drugstore. He grew up in the nearby town of Robertsdale. Cook went to Robertsdale High School and then went on to Auburn University to get a degree in Industrial Engineering in 1982. Cook got his Master of Business Administration from Duke University's Fuqua School of Business in 1988. He was one of the top ten students in his class and was named a Fuqua fellow.
Early Career
Tim Cook was hired by IBM right after he graduated from college. He worked his way up the company's ranks until he was the North American Fulfilment Director, in charge of production and distribution for IBM's Personal Computer Company in both North America and Latin America. After working for IBM for 12 years, Cook went to work for Intelligent Electronics as the chief operating officer of their Reseller Division. Then, for six months, he was Vice President of Corporate Materials at Compaq, where he bought products and kept track of stock.
In 1998, Apple Cook's next job would be as the company's Senior Vice President for worldwide operations. In this role, he would be in charge of all sales and operations around the world, including service and support and sales efforts. Tim joined Apple when things were not going well for the company. This was before the iMac, iPod, iPhone, or iPad were made. It was losing money and not making any more money. Reports say that many of Tim's friends tried to stop him from joining the failing company.
In order for the company to start making money again, Cook shut down Apple factories and replaced them with contract makers. He also put money into long-term deals, such as an advance investment in flash memory, to help the company start making money again. Cook's efforts during this time led to huge profits. This was a change from the previous fiscal year, when Apple lost $1 billion. Cook is also credited with keeping Apple's costs under control. He was also in charge of the company's Macintosh business and worked on strategies for building relationships with resellers and suppliers. In January 2007, he was given the job of running business, and in 2009, he was named CEO. Steve Jobs, the founder and CEO of Apple, was on a medical leave during this time. Jobs asked for another leave of absence in January 2011. During this time, Tim was in charge of running Apple on a day-to-day basis.
Jobs quit as CEO in the end, and in August 2011, Cook was named the new CEO of Apple. Steve Jobs died in October 2011 after fighting cancer for just two months. With the relationship they made, they saved the company from going into a downward spiral and increased its sales from less than $6 billion in 1998 to more than $100 billion. Cook was named one of the 100 most influential people in the world by Time magazine in April 2012.
The board of directors at Apple gave him a million shares in 2012. Cook said he was going to give all of his stock money to charity. Apple bought Beats Music and Beats Electronics for $3 billion in May 2014. This was its largest purchase to date. In the summer of 2015, Apple showed off the iPhone 6. The Apple Watch was announced a year after that.
Other Ventures
In 2013, after the incident with the National Security Agent and Edward Snowden, President Barack Obama held a secret summit on surveillance and the Internet. Cook was there. In December 2015, after a terrorist attack in San Bernardino, California, the FBI asked Apple for help unlocking an iPhone that one of the killers had used. Later, the Department of Justice told Apple to make custom firmware for iOS that would let agents get into any iPhone to get information. In an open letter, Cook called the requests an invasion of privacy that would have "chilling" effects on the privacy and safety of the public.
In October 2019, Cook was named head of the advisory group for the economics school at Tsinghua University. His term will last for three years. He has been on the board of directors for both Nike, Inc. and the National Football Foundation. He owns Nike shares worth $3.4 million.
X
Personal Life
Cook is known as a guy who likes to be alone and keeps to himself. He was the first CEO of a Fortune 500 business to say out loud that he was gay. He did this in an article for Bloomberg Business in 2014. In September 2015, he talked more about his decision to come out on The Late Show with Stephen Colbert. He said, "I really cared about my privacy, but I felt like I cared about it more than what I could do for other people, so I wanted to tell everyone the truth." He said that he wanted to be open because he wanted to show young LGBTQ people that they don't have to live in the dark out of fear.
Cook isn't married and doesn't have any kids.
Cook gave money to both Barack Obama and Hillary Clinton when they ran for president. At one point, Clinton thought about having Tim as her running mate in 2016.
Tim has said that when he goes, he wants to give away most of his money to charity.
Real Estate
Tim is one of the highest-paid business execs in the world, but he lives in a Palo Alto, California, house that is only 2,400 square feet. He paid $1.9 million for the house in 2010, the year before he was named CEO.
CLICK @JAKADIYA For More Updates
No comments