- Apple CEOTim Cook’s net worth is estimated to be $US625.37 million.
- That’s mostly from Apple stock options.
- But the native Alabaman doesn’t live very lavishly.
But he actually is a lot less wealthy than leaders of other, less revenue-generating corporations. He’s worth“only” $US625 million, while folks like Mark Zuckerberg and Larry Page are worth tens of billions.
Here’s how Cook made his millions and what he does with them.
Tim Cook is worth at least $US625.37 million, according to a 2017 estimate by data company Equilar, Time reports.
The bulk of that is from his total stock options and shares in Apple, which total nearly $US622 million. Cook is also on the board of directors for Nike, where he has $US3.4 million in stock options.
Cook’s actual net worth is certainly even higher than that — but information on his property, investment portfolio, and cash on hand isn’t publicly available.
That’s relatively low compared to other tech CEOs. Jeff Bezos, Bill Gates, Mark Zuckerberg, and Larry Page are all worth tens of billions.
Even though Apple is the highest-valued company on the planet, there’s only one known Apple-related billionaire: Laurene Powell Jobs, who is Apple cofounder Steve Jobs’ widow.
In 2017, Cook’s salary as CEO was $US3 million. That’s up from his first year as CEO in 2011, when his salary was $US900,000.
Cook, who came out as gay in 2014, is not married and has no children. He leads a private, solitary life, but here’s what we know about how he spends his fortune …
Despite being a multimillionaire, Cook is remarkably frugal. He reportedly buys his underwear at Nordstrom’s semiannual sale.
“I like to be reminded of where I came from, and putting myself in modest surroundings helps me do that,” Cook said. “Money is not a motivator for me.”
As of 2012, Cook lives in a $US1.9 million Palo Alto home that’s 2,400 square feet. That’s relatively modest for the ritzy Bay Area city, which now has a median home value of $US3.3 million.
Cook spends most of his time at the office — which reportedly includes waking up at 3:45 a.m. to start reading and responding to emails.
Source: Business Insider
As for travel, Cook is often on the move for work. Apple spent $US93,109 last year on Cook’s private plane alone.
Source: Apple regulatory filing from 2018
But he keeps it domestic when it comes to personal travel, visiting spots like Yosemite National Park.
One of his known vacations was to New York City with his nephew. He showed the tween boy around the New York Stock Exchange in 2016.
Indeed, Cook’s most-known hobby is his love of fitness, hiking, and cycling.
Cook goes to the gym at 5 a.m. every morning — but not the Apple company gym, so he can keep a low profile.
But we do know that Cook likes to spend money on political causes. He’s thrown fundraisers for politicians like Barack Obama and Hillary Clinton.
And, besides paying for his nephew’s college education, Cook plans to give away all of his money to charity when he dies. “You want to be the pebble in the pond that creates the ripple for change,” he told Fortune in 2015.
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