The CEO of Apple reportedly passed a huge milestone: He’s now a billionaire. Tim Cook’s net worth has risen significantly, partially as a result of Apple stock more than doubling in value in the past 12 months.
But Cook is not likely to stay a billionaire. And not for the reason you might think.
The estimate of Cook’s net worth comes from the Bloomberg Billionaires Index. The publication says the valuation is “based on an analysis of regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales.”
Cook’s definitely well-compensated for leading Apple to record-setting revenues. He earned $125 million in Apple’s fiscal 2019, for example.
Tim Cook’s net worth won’t stay over $1 billion
Bloomberg notes that its estimate of Cook’s net worth might be wrong if the Apple CEO made undisclosed charitable gifts. And that’s very possible.
Cook has long planned to give his entire fortune to charity. Back in 2015, he told Fortune magazine about his intention. He also said he’d already begun donating quietly. For example, in 2018, he gave 23,215 Apple shares to an unspecified charity. If he made that donation today, it would be valued at over $10 million.
Cook is 59 and has no children.