Is the CEO of Apple a billionaire?
From the Readwrite article: As the CEO of Apple since 2011, Tim Cook oversees the world's most valuable company. While much of his wealth comes from his Apple salary and stock grants, his estimated net worth is around $1.9 billion.
Apple CEO Tim Cook earns $63.21 million as total salary in 2023, it drops by almost $36 million.
Tim Cook is worth $1.9 billion, according to Forbes data. Tim Cook's net worth includes around 3.3 million shares of Apple.
Tim Cook (2011-present)
Tim Cook took over as Apple CEO after Steve Jobs' resignation in August 2011. Cook had previously been recruited by Jobs in 1998 to lead the company's global operations; he also filled in for Jobs as interim CEO while Jobs underwent medical treatment and a transplant.
Cook joined Apple in 1998, having worked briefly at PC-maker Compaq and for 12 years at IBM. Cook owns more than 3 million shares of Apple, less than a 1% stake; he's sold hundreds of millions of dollars' worth of shares over the years. Since 2005, he has also served on the board of Nike.
It might sound uncanny, but it is true: CEOs and former CEOs from major tech companies have or had salaries of just $1. Yes, Elon Musk (Tesla), Jeremy Stoppelman (Yelp), Larry Ellison (Oracle), Meg Whitman (HP), and Steve Jobs (Apple) earn or earned paychecks of just one dollar a month. Don't believe us?
- Market President. Salary range: $400,000-$400,000 per year. ...
- President. Salary range: $115,000-$261,500 per year. ...
- Corporate President. Salary range: $115,000-$261,500 per year. ...
- President and CEO. Salary range: $106,500-$223,500 per year. ...
- Bank President. ...
- Executive. ...
- Banking Officer. ...
- Insurance Executive.
The ownership structure of Apple (AAPL) stock is a mix of institutional, retail and individual investors. Approximately 49.22% of the company's stock is owned by Institutional Investors, 0.11% is owned by Insiders and 50.68% is owned by Public Companies and Individual Investors.
Key Facts. Institutional investors account for roughly 60% of Apple's total outstanding stock. Insider investors, including Chair of the Board Art Levinson and CEO Tim Cook, control less than 1% of the company. Three of Apple's biggest shareholders are Vanguard, Blackrock, and Berkshire Hathaway.
Apple was co-founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976. However, none of them actually ran the company in the beginning. In this article we look through the history of Apple's seven CEOs, starting with Michael Scott in 1977, right up to the present CEO, Tim Cook.
What was Steve Jobs religion?
During this time period, Jobs and Brennan both became practitioners of Zen Buddhism through the Zen master Kōbun Chino Otogawa.
But in reality, Steve Jobs named the company Apple because he liked the fruit. Steve Jobs followed a fruitarian diet and suggested the name Apple to Wozniak after Jobs visited an apple orchard.
Vanguard Group
Vanguard Group, the world's second-largest asset manager, is Apple's largest shareholder among institutional investors. It holds 1.299 billion Apple shares, which is 8.36% of Apple's total common stock outstanding.
Tim Cook. Tim Cook (Timothy Donald Cook) is currently the CEO of Apple and was appointed to that position back in 2011 when Steve Jobs passed away. He owns about 0.021% of Apple's shares, with a net worth of $1.8 billion.
Cook is also on the boards of directors of Nike, Inc. and the National Football Foundation; he is a trustee of Duke University, his alma mater. Outside of Apple, Cook engages in philanthropy; in March 2015 he said he planned to donate his fortune to charity.
Mark Zuckerberg receives a base salary of just $1 a year from Meta. He also doesn't get bonuses or equity awards from the company.
Sometimes yes, sometimes no. It depends on a variety of things, but not all CEOs are rich. Many love the work (myself included), and the financial reward is only part of the journey.
$1 hourly is how much per year? If you make $1 per hour, your Yearly salary would be $2,080. This result is obtained by multiplying your base salary by the amount of hours, week, and months you work in a year, assuming you work 40 hours a week.
| PAY RANK | CEO | COMPANY |
|---|---|---|
| 1 | Sundar Pichai | Alphabet (GOOG) |
| 2 | Michael Rapino | Live Nation Entertainment (LYV) |
| 3 | Tim D. Cook | Apple (AAPL) |
| 4 | Peter Zaffino | American International Group (AIG) |
Disney CEO Bob Iger saw his compensation hit $31.6 million in 2023 — down from $45.9 million in 2021, his last prior full year of employment at the company.
Why is CEO pay so high?
While the factors influencing CEO compensation are complex and multifaceted, it's clear that a combination of company performance, industry norms, talent scarcity, and market dynamics is the answer to why CEOs get paid so much money.
- Genghis Khan. 1206–1227. King of Mongol Empire. ...
- Zhao Xu. 1048–1085. ...
- Akbar, The Great. 1542–1605. ...
- Amenhotep III. 1388–1351 BC. ...
- Augustus Caesar. 63 BC-14 AD. ...
- King Solomon. 970–931 BCE. ...
- Mansa Mousa. 1280–1337.
No individual has claimed the status of trillionaire just yet. But a net worth equal to at least one trillion in U.S. dollars or a similarly valued currency isn't unattainable, but it will be a couple of years yet. Only 18 countries have a GDP that exceeds that amount. The World Bank.
The technology giant is the world's most valuable company—and it's not particularly close. Apple became the first company in the world with a $3 trillion valuation on Friday (June 30).
Chief Executive Officer
Tim Cook is the CEO of Apple and serves on its board of directors.
