news 1 month ago

Tim Cook Enters the 'Three-Comma Club'

Newser — Neal Colgrass

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 From Newser

This article originally appeared on Newser: Tim Cook Enters the 'Three-Comma Club'