Tim Cook dinner joins the billionaire club as Apple approaches $2 trillion market cap

In short: Apple CEO Tim Cook dinner now has a salvage rate north of $1 billion, putting him within the moderately unfamiliar “10-figure salvage rate club.” Nonetheless for Cook dinner, the accomplishment is even extra improbable pondering he didn’t found the company he runs.

Bloomberg estimated Cook dinner’s salvage rate based fully on regulatory filings and “making use of the market efficiency of a usual prosperous investor to his proceeds from part gross sales.” Most of his estimated wealth came because fairness awards earned at some level of his profession at Apple, which began design wait on in 1988 when he joined the company as senior vice president of world operations.

Cook dinner took over as CEO on August 24, 2011, as Steve Jobs stepped down due to the effectively being factors. Roughly six weeks later, on October 5, 2011, Jobs died from complications of pancreatic cancer.

No matter the possibilities, Cook dinner has managed to push Apple to new heights. The corporate used to be rate round $350 billion when Jobs died in 2011. This day, it’s approaching a $2 trillion market cap.

Even with an estimated salvage rate of over $1 billion, Cook dinner isn’t prosperous enough to smash into the top 500 of the Bloomberg Billionaires Index. The least rich particular person on the list has an estimated salvage rate of $4.51 billion. On the reverse stop of the spectrum, you’ve got Amazon founder Jeff Bezos at number 1 with an estimated salvage rate of $186 billion. Microsoft co-founder Bill Gates is second at $121 billion followed by Facebook founder Designate Zuckerberg at $99.7 billion.

In 2015, Cook dinner mentioned he planned to give away most of his fortune to charity.

Image credit score: Laura Hutton, Novikov Aleksey