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Worth $2 billion, how does Tim Cook, CEO of Apple, make and spend money

2024-05-21 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

CTOnews.com, December 23 (Xinhua) according to data released by Forbes, Apple CEO Tim Cook is worth $2 billion (currently about 14.28 billion yuan), making him the 1647 richest person in the world in terms of net worth.

Photo Source: WikiMedia earnings according to Reuters, Tim Cook's net worth includes about 3.3 million shares of Apple stock, equivalent to $651783000 at the company's current valuation (CTOnews.com Note: about 4.654 billion yuan).

Cook's high salary has sparked controversy among Apple shareholders in recent years, resulting in a pay cut in 2023.

Cook's total compensation target for 2023 is set at $49 million (currently about 350 million yuan), more than 40% lower than his 2022 salary, according to a SEC filing. Cook's compensation is directly linked to Apple's share price.

Next, let's take a look at his assets. His main residence is in Palo Alto, California, covering an area of 2400 square feet.

In addition, Cook owns a huge mansion in Laquinta, Calif., for which he paid about $10 million (currently about 71.4 million yuan) in 2021. The house has two kitchens, five bedrooms, six bathrooms and a boundless swimming pool.

According to a SEC filing, Cook donated $2 million (currently about 14.28 million yuan) to a secret charity shortly after Christmas in 2019.

In August 2018, he donated nearly $5 million (currently about 35.7 million yuan) to another unnamed charity. Among his previously known donations, he provided financial support to the Robert Kennedy Center for Justice and Human Rights and the Human Rights Movement.

As Apple's chief executive, Cook also announced more donations to the public, including the Amazon rainforest fire and the California housing crisis, and the company pledged $2.5 billion to these causes.

For example, in the Gansu earthquake, Cook said: "the Gansu earthquake and the disaster caused by it is distressing. At Apple, we care about every victim, and we will donate money to support local rescue and reconstruction efforts."

Cook had previously made a donation pledge, saying publicly that he planned to donate most of his fortune before his death.

Tim Cook, a master of inventory operations, officially joined Apple in 1998 as a senior vice president in charge of global operations. Before joining Apple, he worked at IBM for 12 years and managed the supply chain at Compaq.

Cook, a master of operations, reduced the inventory value of Apple's unsold products from $400m (currently about 2.856 billion yuan) to $78 million (currently about 557 million yuan) in a little more than half a year.

Cook and his team also made prescient investments in technologies such as flash hardware, ensuring the supply of flash memory, which will be used in Apple's revolutionary iPod in the early 2000s.

Cook, who was promoted to head of operations for the entire company in 2007, took on the responsibility of serving as interim CEO in 2009 when Steve Jobs took time off for health reasons, and his excellent performance in just two years won the high recognition of the board of directors and successfully took over the banner of Apple at the helm.

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