A new analysis through Bloomberg finds that Apple CEO Tim Cook’s net worth has passed the $ 1 billion mark, making him officially a billionaire. It’s an impressive number for sure, but assuming it is only more than $ 1 billion, he has a long way to go before hitting the other CEOs Bloomberg Billionaire list. Amazon CEO Jeff Bezos tops the list with $ 187 billion, followed by former Microsoft CEO Bill Gates with $ 121 billion and Facebook’s Mark Zuckerberg with $ 102 billion. Tesla CEO Elon Musk is only No. 10 on the list, but even he’s well ahead of Cook at $ 68.7 billion.
Yes, these are obscene amounts, and it’s hard to grasp just how rich Bezos is (especially during a pandemic with a 10 percent unemployment rate and declining economic relief). Who cares? It’s a bunch of rich guys getting richer, right? Well, these are the guys – and the list is mostly men; the first woman on the list is Alice Walton at number 16, with $ 57.1 billion – who runs the world’s most valuable businesses and affects our lives in countless ways. As reporter Kashmir Hill has documented, it is almost impossible to liberate completely themselves from the economies that Google, Amazon, Facebook, Microsoft and Apple have built.
Cook is a bit of an unusual case at the three-point club though, as he hasn’t found Apple, and it’s rare for a non-founder CEO to become a billionaire. But Cook arguably built Apple into the most valuable publicly traded company in the world, only beating Saudi Arabia’s state oil company in July. Cook worked his way up through the company, rebuilding the supply chain using just-in-time manufacturing principles, such as reducing inventory, after Steve Jobs hired him from Compaq as Apple’s COO. By most accounts, Cook has one more measured, cautious approach than its predecessor, but Apple’s sales and profits have both more than doubled since he became CEO.
How that legacy of Apple building will hold up over time isn’t clear; Right now, Apple and other companies with large manufacturing operations and customer bases in China are trying to determine how President Trump’s ban on some Chinese companies will affect them. But Apple is rolling on for now; Recent earnings in the third quarter showed that it is thriving amid the pandemic that has hit many other businesses. In the third quarter, Apple had $ 59.7 billion in revenue, an 11 percent increase from a year ago. And his approaching a market capitalization of $ 2 trillion.