Apple's CEO Tim Cook is worth $2 billion, according to data sourced from Forbes.
That is a staggering amount of money, to be sure. At the time of writing, however, Cook's net worth makes him only the 1,647th richest person on earth.
Tim Cook's net worth includes approximately 3.3 million shares of Apple stock, per Reuters, which would equal some $651,783,000 at the company's current valuation.
Tim Cook income and spending
Cook requested a smaller paycheck for 2023 after his hefty pay packages caused controversy among Apple shareholders in previous years.
According to an SEC filing, Cook's target total compensation for 2023 was set at $49 million, or more than 40% below what he was paid in 2022. In another change, the filing revealed that more of his pay would be tied to Apple's stock performance than in the past.
Cook has spent some of his fortune on real estate. His primary residence is a 2,400-square-foot house in Palo Alto, California.
He also owns a sprawling mansion in La Quinta, California, for which he paid around $10 million in 2021. The home has two kitchens, five bedrooms, six bathrooms, and an infinity pool.
Tim Cook and charitable giving
Cook made a $2 million donation to a mystery charity to a mystery charity shortly after Christmas in 2019, an SEC filing revealed.
In August 2018, he donated almost $5 million to another unnamed charity. Of the known donations he's made previously, he has given financial support to the Robert F. Kennedy Center for Justice and Human Rights and the Human Rights Campaign.
As CEO of Apple, Cook has also announced more public-facing donations to causes, including the Amazon rainforest fires and the California housing crisis, to which the company pledged $2.5 billion.
We know that Tim Cook has taken up the Giving Pledge, publicly stating that he plans to give away most of his fortune before his death.
Tim Cook's rise at Apple
Tim Cook joined Apple as a senior vice president of worldwide operations, a role that included the tough decisions to close many manufacturing facilities, cut down on the number of suppliers Apple was using, outsource production when possible, and reduce the company's inventory.
A wunderkind at operational streamlining and management, Cook helped reduce the company's unsold product stock from $400 million worth of unsold hardware to just $78 million in unsold inventory in slightly over half a year. Cook and his team also made prescient investments in technology such as flash storage hardware, securing a supply of flash memory that would be used in Apple's revolutionary iPods in the early 2000s.
In 2007, Cook was promoted to lead operations for the entire company, and in 2009, when Steve Jobs took a leave of absence for health reasons, Cook stepped in as an interim CEO. It was the dress rehearsal for his promotion to the CEO role that would follow in just two years.
Isobel Asher Hamilton contributed to this report.
