Advertisement

Apple CEO Tim Cook's net worth surges as he joins the billionaire's club

Getty Images
Getty Images

Apple chief executive Tim Cook has become the latest tech bro to reach billionaire status.

It comes as Apple's stock has shot higher over recent weeks as the company continues to outperform despite the coronavirus crisis.

Cook took the top job at Apple nine years ago after founder Steve Jobs stepped down. Cook has managed to amass the fortune despite not being a founder.

Apple has thrived under Cook and the tech firm now has a market cap approaching $2 trillion, making the company even more valuable than stated owned oil giant Saudi Aramco.

In 2015, he said he planned to give most of his fortune away and has already donated million of dollars worth of Apple shares.

ADVERTISEMENT

Nevertheless he has a long way to go if he is to catch up with his tech rivals.

Last week Mark Zuckerberg's wealth hit $100 billion for the first time.

The increase in the 36 year old's wealth was boosted after the social media giant launched Instagram Reels last week, a direct rival to TikTok.

Jeff Bezos is also a centibillionaire
Jeff Bezos is also a centibillionaire

Zuckerberg has a 13% stake in Facebook.

Only Amazon chief Jeff Bezos and Microsoft’s Bill Gates have reached the milestone before, although Bernard Arnault, Warren Buffet, Larry Ellison and Carlos Slim are not far behind.

Tech giants have performed well during lockdown as people have been stuck at home over the past five months since coronavirus struck the globe.

Two weeks ago a congressional antitrust panel questioned Bezos, Tim Cook of Apple, Zuckerberg and Sundar Pichai of Alphabet - about their market power and business practices.

It was part of a broader inquiry by regulators and lawmakers into the dominance of the tech giants, with open investigations from the Justice Department, the Federal Trade Commission and state attorneys general

Read more

Richard Branson's Virgin Atlantic files for bankruptcy

First look inside Virgin Galactic’s spaceflight cabin

Virgin Money to go ahead with job cuts and branch closures

Virgin Atlantic to fly to Miami and the Caribbean from August