Apple Boss, Tim Cook Becomes A Billionaire

Apple’s Chief Executive officer, Tim Cook has officially joined the league of billionaire

Naija News Understands that Cook’s estimated net worth as calculated by the Bloomberg Billionaires index, leapt as Apple shares jumped last week, hitting close to the $2 trillion marks.

The market capital of Apple is currently around $1.9 trillion. Its shares are up nearly 54% so far this year to almost $451 each, outperforming the broader market and the S&P 500 tech sector, according to data provider Refinitiv.

The tech world has produced many billionaires, including the world’s richest man, Amazon founder Jeff Bezos, and Facebook co-founder, Mark Zuckerberg, who Bloomberg pegs as worth $100 billion or more.

However, Cook’s new status is something of a rarity because he is not Apple’s founder. Google CEO, Sundar Pichai, for instance, not among Silicon Valley’s richest players. But Google’s co-founders, Larry Page and Sergey Brin, who gave up their executive roles in 2019, are worth about $71.7 billion and $69.5 billion, respectively.