Tim Cook Enters the 'Three-Comma Club'

Apple's CEO has just become a billionaire
By Neal Colgrass,  Newser Staff
Posted Aug 11, 2020 8:21 AM CDT
Tim Cook Enters the 'Three-Comma Club'
Apple CEO Tim Cook speaks via video conference during a House Judiciary subcommittee hearing on antitrust on Capitol Hill on Wednesday, July 29, 2020, in Washington.   (Graeme Jennings/Pool via AP)

Don't think of Tim Cook as obscenely rich? Well, he is Apple's CEO, and he's now in the billionaire's club. That's according to a Bloomberg News analysis of his compensation and years of Apple stock awards that pay out gradually. His 847,969 shares (about 0.02% of the company total) are worth roughly $375 million, which—added to $650 million in previous dividends, share sales, and other compensation—just tops $1 billion. His entry into the "three-comma club" is unusual because he didn't found Apple, notes the Verge.

Google CEO Sundar Pichai isn't hugely rich, for example, while co-founders Larry Page and Sergey Brin (who surrendered their executive jobs in 2019) are respectively worth about $71.7 billion and $69.5 billion, per CNN. Then there's Jeff Bezos ($187 billion), Bill Gates ($121 billion), and CEO Mark Zuckerberg ($102 billion). One thing about Cook's rise in wealth: It coincided with Apple's landmark stock-market value of nearly $2 trillion, which pushed aside Saudi Arabia's state-owned oil company in July to become the world's most valuable publicly traded company. (More Apple stories.)

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