Tim Cook Net Worth | Celebrity Net Worth

Tim Cook Net Worth 2020 and Salary: Tim Cook is an American enterprise govt who has a net worth of $650 million. He is greatest identified for being the CEO of Apple Inc. As CEO, Tim earns a base salary of $3.four million and a bonus of $8 – $12 million. On high of salary and bonus, Tim is periodically granted massive chunks of Apple choices which vest over time. His vested shares are counted as revenue in a given 12 months. So for instance in 2019, on high of his salary and bonuses Tim earned $113.5 million worth of vested shares, bringing his whole comp for the 12 months to round $125 million. Between 2011, when he was named CEO, and 2020, Tim earned $963.5 million in whole compensation from Apple. Outside of regular compensation, in a mean 12 months Tim advantages from roughly $500,000 worth of private safety bills paid for by Apple. He can also be required to fly privately for all private and enterprise journey. Those flight prices come to round $315,000 per 12 months.

How Many Shares of Apple Does Time Own? As of this writing, Tim controls 847,969 vested shares of Apple. In February 2020 when Apple shares have been buying and selling at $320, Tim’s stake was worth round $280 million. His compensation plan will ultimately award him lots of of thousands and thousands of {dollars} worth of shares which are at present un-vested however are technically “owned” by Tim. He is the corporate’s second-largest particular person shareholder behind Board Chairman Arthur Levinson who has 1.1 million shares. Levinson has served on the Board since 2000. The third largest particular person shareholder is Senior VP of Software Engineering, Craig Federighi, who has 412,000 shares as of this writing.

Early Life: Timothy Donald Cook was born November 1, 1960 in Mobile, Alabama. His father (Donald) was a shipyard employee and his mom (Geraldine) labored at a pharmacy. He was raised in close by Robertsdale. Cook attended Robertsdale High School and went on to earn a level in Industrial Engineering from Auburn University in 1982. In 1988, Cook earned his Master of Business Administration from Fuqua School of Business at Duke University. He graduated within the high ten of his class and was awarded the title of a Fuqua scholar.

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Early Career: Straight out of faculty, Tim Cook was employed by IBM the place he moved up the ranks to turn into the pc company’s North American Fulfillment Director, managing manufacturing and distribution capabilities for IBM’s Personal Computer Company in each North America and Latin America. Following a 12-year profession at IBM, Cook turned a chief working officer (Reseller Division) at Intelligent Electronics. He then served for six months as Vice President of Corporate Materials for Compaq, purchases and managing product stock.

Apple: Cook’s subsequent job, in 1998, could be as Apple’s Senior Vice President for worldwide operations, the place he could be liable for managing all gross sales and operations worldwide, together with gross sales actions, and repair and help. Tim joined Apple at a bleak time for the corporate, earlier than it had developed the iMac, iPod, iPhone, or iPad. It was seeing declining income and no revenue development. He was dissuaded by many to not be part of the then-flailing firm.

In an try to start out turning a revenue once more for the corporate, Cook closed Apple factories and changed them with contract producers, and invested in long-term offers like an advance funding in flash reminiscence. Cook’s actions throughout this time generated big income, a shift from a latest net lack of $1 billion from their earlier fiscal 12 months, and has been credited with preserving Apple’s prices underneath management.  He was additionally the chief of the corporate’s Macintosh division and creating reseller/provider relationship methods. He was promoted to guide operations in January 2007 and served as chief govt in 2009. During this time, Steve Jobs, founder and CEO of Apple, was on a health-related go away of absence. In January 2011, Jobs requested one other go away of absence, and through this time Tim was liable for working operations at Apple day-to-day.

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Jobs ultimately resigned as CEO, and, in August 2011, Cook was named Apple’s new CEO. Steve Jobs handed away simply two months later, in October 2011, after a battle with most cancers. With the partnership that they had created, that they had rescued the corporate from a downward spiral and took it from lower than $6 billion in income in 1998 to over $100 billion. In April 2012, Cook was included on Time Magazine’s listing of 100 Most Influential People within the World.

He was awarded a million shares in 2012 by Apple’s board of administrators. Cook stated he deliberate to donate his complete inventory fortune to charity. In May 2014, Apple introduced the acquisition of Beats Music and Beats Electronics for $Three billion, its greatest acquisition but. Apple unveiled the iPhone 6 in the summertime of 2015. One 12 months later, the Apple Watch was introduced.

(Photo by Justin Sullivan/Getty Images)

Other Ventures: Cook attended a personal summit hosted by President Barack Obama in 2013 in regard to surveillance and the web within the aftermath of the incident involving the National Security Agent and Edward Snowden. Following the terrorist assault in San Bernardino, CA in December 2015, the FBI solicited Apple to help in unlocking an iPhone utilized by one of many attackers. The Department of Justice later ordered Apple to create customized firmware for iOS that might permit investigators to unlock any iPhone for gathering proof. Cook denounced the calls for in an open letter as a breach of privateness with that might have “chilling” penalties for public privateness and security.

Cook was appointed chairman of the advisory board for Tsinghua University’s economics faculty in October 2019. The size of his time period shall be three years. He has been on the board of administrators for Nike, Inc. in addition to the National Football Foundation. He owns $3.four million worth of shares of Nike.

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Personal Life: Cook is understood for being a solitary, very non-public particular person. He was the primary Chief Executive at a Fortune 500 firm to determine publicly as homosexual and he did so in 2014 in an editorial for Bloomberg Business. In September 2015, he elaborated on The Late Show with Stephen Colbert on his determination to return out, “Where I valued my privacy significantly, I felt that I was valuing it too far above what I could do for other people, so I wanted to tell everyone my truth.” He has acknowledged that he hoped his openness would assist encourage the younger LGBTQ group to not dwell at the hours of darkness out of concern.

Cook shouldn’t be married and has no youngsters.

Cook donated to the presidential campaigns of Barack Obama and Hillary Clinton. At one level, Clinton thought of Tim as a working mate in her 2016 marketing campaign.

Real Estate: Despite being one of many highest-paid enterprise executives on the earth, Tim lives in a surprisingly modest 2,400 square-foot house in Palo Alto, California. He purchased the home in 2010, the 12 months earlier than being named CEO, for $1.9 million.

Tim Cook Salary: When Tim first turned CEO of Apple in 2011, his salary was $900,000 per 12 months. Today his base salary is $3.four million. As we talked about beforehand, he sometimes earns a bonus of $8 – 12 million and will be awarded lots of of thousands and thousands worth of choices.

Tim has introduced that he plans to present the overwhelming majority of his cash away to charity when he dies.

Quote About Money:

“I like to be reminded of where I came from, and putting myself in modest surroundings helps me do that. Money is not a motivator for me.”

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