Cook CEO's Net Worth Exceeds $1 Billion
Mostly Apple Stock
[Asia Economy Reporter Kwon Jae-hee] Tim Cook, Apple’s Chief Executive Officer (CEO), has joined the billionaire ranks with a net worth exceeding $1 billion (approximately 1.2 trillion KRW).
According to Bloomberg’s Billionaires Index on the 10th (local time), Cook’s wealth consists of about 847,969 Apple shares, representing approximately 0.02% of Apple’s stock (around $375 million), along with proceeds from stock sales, dividends, and other compensation, totaling roughly $650 million (about 770 billion KRW).
In addition, unless Apple’s stock price plunges, he is expected to receive his ninth stock option of about 560,000 shares by the end of this month. Based on the closing price on the 10th, this is valued at approximately $252 million (around 300 billion KRW).
The majority of Cook’s wealth comes from stock options he has received since joining Apple in 1998.
Bloomberg noted, “Half of this will be withheld for taxes,” but added, “Even so, the remaining half will increase Cook’s wealth by another $100 million.”
Bloomberg reported that most billionaires such as Jeff Bezos, Amazon CEO; Mark Zuckerberg, Facebook CEO; and Elon Musk, Tesla CEO, are founders, making it unusual for a professional manager like Cook to have assets exceeding $1 billion.
Cook announced in 2015 his intention to donate his entire fortune to society. He has already donated Apple shares worth millions of dollars, and Bloomberg stated that including undisclosed donations, his net worth could be even lower.
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