Apple CEO Tim Cook’s net value has climbed to over $1 billion.
At a net value of $1 billion, Cook does not rank on the chart of the world’s 500 richest people, a list topped by Amazon CEO Jeff Bezos and former Microsoft CEO Bill Gates. Cook’s net value was calculated using regulatory filings and market performance.
When former Apple CEO Steve Jobs died in 2011, Apple was valued at roughly $350 billion, and the company has grown considerably under Cook’s leadership. Much of Cook’s fortune stems from inventory awards provided when he took over as CEO. He was awarded restricted stock units that have vested over time, and has garnered extra stock awards as Apple has outperformed no less than two-thirds of the corporations in the S&P 500.
Later this month, Cook is about to receive his ninth payout, which will include 560,000 shares of Apple stock and may increase his net value by approximately $100 million.
Cook has mentioned in the past that he plans to provide most of his money away to charity, and that he is creating a “systematic approach to philanthropy.” For the last several years, Cook has donated $5 million in inventory to numerous charities on a yearly basis, although the charities have gone unnamed and it is unclear if there have been different undisclosed donations.