Apple CEO Tim Cook Is Now Worth $2 Billion, Despite Taking A 40 Percent Pay Cut This Year

wccftech.com:

It has hardly been an easy journey for Apple CEO Tim Cook ever since he succeeded Steve Jobs as the head of the now trillion-dollar company, but for all his efforts, the Chief Executive has been rewarded financially for it. According to the latest data, Cook is currently worth $2 billion and has a few million Apple shares to his name, which are equivalent to millions in monetary value.

Updated statistics taken from Forbes revealed that Tim Cook is worth $2 billion, but in the overall rankings, the current executive is not even close to the richest people on the planet as he is currently ranked #1583 in the world. Additional information states that Cook’s net assets include approximately 3.3 million Apple shares, which is equal to  $651,783,000 ($651 million) based on the company’s current valuation. In 2022, Cook’s compensation was around $100 million, which stirred quite a bit of controversy.

However, in the wake of massive layoffs that transpired in 2023, where companies such as Microsoft, Google, Amazon, and countless others were trimming employee count by the thousands, Tim Cook likely gained the respect of his subordinates at Apple by taking a 40 percent pay cut. Even then, Cook’s annual compensation for 2023 came to around $49 million, which included stock options too. The Apple CEO reportedly stated that layoffs at the company were being viewed as a last resort, but unlike other technology giants, Apple was not aggressive in its hiring spree.

Under Cook’s leadership, Apple recently crossed the $3 trillion valuation mark this year, despite its 2023 fiscal revenue being down 3 percent compared to fiscal 2022. Some analysts believe that Apple’s valuation can reach $4 trillion by the end of 2024, based on the current