As AAPL Soars, Apple CEO Tim Cook Is Now A Billionaire

As Apple stock advances to soar that it's only of days before it hits the $2 trillion market valuation milestone, CEO Tim Cook's net...

As Apple stock advances to soar that it's only of days before it hits the $2 trillion market valuation milestone, CEO Tim Cook's net worth has climbed to over $1 billion, as shown over calculations done by Bloomberg's Billionaires Index.

Though Cook is now a billionaire, however, that doesn't make him one of the world's 500 richest people. In the most recent payout, the Alabama-native was requited with 560,000 shares of Apple stock, which should boost his net worth by approximately $100 million.

Back in 2011, when Apple's late co-founder Steve Jobs passed away, the company he founded was valued at about $350 billion. Since Cook took over, AAPL has grown significantly under his leadership. Bloomberg suggests that he received a massive award of restricted shares on his first day as CEO, that's where his most wealth came from.

Cook's net worth was estimated using regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales. Based on that, Bloomberg believes that he currently owns 847,969 shares directly, or about 0.02% of Apple shares, worth around $375 million, dividends and other compensation add another $650 million to his net worth.

He said in 2015 that he plans to give away much of his fortune, and that he has already donated millions of dollars worth of Apple shares. His assets may be lower if he had made other known personal giving. Reports also claimed that Cook donated $5 million in stock to various charities on an annual basis, but the charities also gone unidentified and it is not clear if there have been other donations.