Tim Cook is Now a Billionaire As Apple’s Value Nears $2 Trillion

Apple Inc Chief Executive Officer, Tim Cook is now a billionaire — thanks to the near $2 trillion market cap Apple is enjoying, Bloomberg reports. 

Cook’s wealth has exceeded the $1 billion mark, according to the calculations done by Bloomberg Billionaires Index. 

Apple shares have risen nearly 5% in the last week and almost 54% year-to-date, with the company’s market capitalization approaching $2 trillion. 

The Cupertino-based tech giant was valued at $350 billion at the time its co-founder Steve Jobs died in 2011. 

The rise in Cook’s wealth and Apple’s value mirrors the growth of the so-called FAANG stocks, an acronym that refers to Facebook Inc, Amazon.com, Apple, Netflix Inc, and Alphabet.

Unlike Facebook CEO Mark Zuckerberg and other tech titan founders — such as Tesla Inc’s Elon Musk — who own significant chunks of their companies, Cook’s ownership of Apple shares has been incremental and a part of equity awards.

Cook reportedly said he plans to give most of his fortune to charity and has already donated shares to the tune of millions of dollars.

Amazon CEO Jeff Bezos, the richest person on the planet, sold $3 billion worth of Amazon shares this month after having sold $4.1 billion worth of shares in January and February this year, under a pre-planned arrangement.

Recently, Facebook’s Mark Zuckerberg became the world’s third centibillionaire after shares of the social media giant jumped by 6% on investor optimism over the prospects of the new launch of the TikTok clone, Instagram Reels.