Apple CEO Tim Cook Now A Billionaire As iPhone Maker Becomes World's Most Valued Company

By : IANS | Updated at : 11 Aug 2020 07:12 PM (IST)

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San Francisco: Apple CEO Tim Cook has for the first time become a billionaire as the Cupertino-based iPhone maker broke all previous records and is now the world's most valued company at over $1.84 trillion. ALSO READ | BSNL Employees Are Traitors, 88,000 Staff Will Be Fired': BJP Lawmaker Anantkumar Hegde Sparks Controversy The net worth of Cook has crossed the $1-billion mark, officially making him a billionaire. Cook, however, still has a long way to go to catch up with other CEOs on the Bloomberg Billionaires' list, like Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion). "Cook owns 847,969 shares directly and took home more than $125 million last year as part of his pay package," reports the BBC. Apple is now closing in on the milestone of being the first company to be valued at $2 trillion. ALSO READ | Did You Know Gratuity Eligibility Of 5 Years May Be Relaxed? Check Out The Present Rules Last week, Apple surpassed Saudi Arabia's state-owned oil company Saudi Aramco to become the world's most valuable company. The strong earnings report helped Apple shares closed up 10.47 per cent to become the world's most valuable publicly-traded company, surpassing the largest oil producer in the world. Riding on its growing services and wearables business, Apple is set to become the first company ever to touch the $2-trillion valuation mark. Apple was the first US company to cross the $1-trillion mark in 2018. WATCH | India's Industrial output shrinks 16.6% in June 2020