Tim Cook is now a billionaire, but not the Jeff Bezos kind
Cook is a bit of an uncommon case amongst the 3 comma club, however, since he didn’t discovered Apple, and it’s rare for any non-founder CEO to become a billionaire. But Cook perhaps constructed Apple into the most important publicly traded company worldwide, vanquishing Saudi Arabia’s state-owned oil business simply this July. Cook worked his way up through the business and rebuilt its supply chain utilizing “just-in-time” production principles, like lowering inventory, after Steve Jobs employed him far from Compaq to be Apple’s COO. By the majority of accounts, Cook has taken a more determined, mindful method than his predecessor, however Apple’s earnings and earnings have both more than doubled because he became CEO.
A brand-new analysis by Bloomberg finds that the net worth of Apple CEO Tim Cook has passed the $1 billion mark, formally making him a billionaire. It’s definitely an outstanding number, but presuming it’s just over $1 billion, he’s got a long method to go before he reaches the other CEOs on the < a href =”https://www.bloomberg.com/billionaires/?sref=ExbtjcSG”> Bloomberg Billionaires list. Jeff Bezos, CEO of Amazon, tops the list at $187 billion, followed by former Microsoft CEO Bill Gates at $121 billion, and Mark Zuckerberg of Facebook at $102 billion. Tesla CEO Elon Musk is just No. 10 on the list, but even he is well ahead of Cook at $68.7 billion.
Yes, these are profane quantities of money, and it’s challenging to comprehend how wealthy Bezos is (particularly during a pandemic with a 10 percent unemployment rate and evaporating economic relief). Who cares? It’s a lot of abundant guys getting richer, right? Well, these are the people– and the list is extremely guys; the first woman on the list is Alice Walton at No. 16, with $57.1 billion– who run the world’s most valuable companies and influence our lives in myriad ways. As reporter Kashmir Hill has documented, it’s nearly impossible to totally liberate oneself from the economy that Google, Amazon, Facebook, Microsoft, and Apple have developed.
How that tradition of Apple-building will hold up with time isn’t clear; at the minute, Apple and other companies with big production operations and customer bases in China are trying to determine how President Trump’s restriction on some Chinese business will affect them. Apple is rolling right along for the time being; its recent third quarter revenues showed it’s flourishing amidst the pandemic that has gutted lots of other companies. In its third quarter, Apple had $59.7 billion in profits, an 11 percent bump from a year ago. And it’s approaching a market cap of $2 trillion.
Jeff Bezos, CEO of Amazon, tops the list at $187 billion, followed by previous Microsoft CEO Bill Gates at $121 billion, and Mark Zuckerberg of Facebook at $102 billion. Yes, these are profane amounts of cash, and it’s hard to comprehend how wealthy Bezos is (particularly during a pandemic with a 10 percent unemployment rate and evaporating financial relief). Well, these are the men– and the list is extremely men; the first woman on the list is Alice Walton at No. 16, with $57.1 billion– who run the world’s most valuable companies and affect our lives in myriad ways. Cook is a bit of an uncommon case amongst the 3 comma club, though, due to the fact that he didn’t found Apple, and it’s rare for any non-founder CEO to end up being a billionaire. In its third quarter, Apple had $59.7 billion in earnings, an 11 percent bump from a year back.