Home / Apple / Tim Cook is now a billionaire, but not the Jeff Bezos type

Tim Cook is now a billionaire, but not the Jeff Bezos type



A new analysis of Bloomberg finds that Apple CEO Tim Cook’s net worth has exceeded the $ 1 billion mark, which has officially made him a billionaire. That’s certainly an impressive number, but provided it is just over a billion dollars, he has a long way to go before he catches the other CEOs on Bloomberg Billionaires list. Amazon CEO Jeff Bezos tops the list at $ 187 billion, followed by former Microsoft CEO Bill Gates at $ 121 billion, and Mark Zuckerberg at Facebook at $ 102 billion. Tesla CEO Elon Musk is only No. 10 on the list, but he himself is well ahead of Cook at $ 68.7 billion.

Yes, these are obscene amounts of money, and it̵

7;s hard to understand how prosperous Bezos is (especially during a pandemic with 10 percent unemployment and evaporating economic relief). Who cares? There’s a bunch of rich guys getting richer, right? These are the guys – and the list is overwhelming men; The first woman on the list is Alice Walton at No. 16, with $ 57.1 billion – who runs the world’s most valuable companies and affects our lives in countless ways. As reporter Kashmir Hill has documented, it is almost impossible to fully recover from the economies that Google, Amazon, Facebook, Microsoft and Apple have built.

Cook, however, is a bit of an unusual case among the three comma clubs, because he did not find Apple, and it is rare for any CEO not to be a billionaire. But Cook undoubtedly built Apple into the most valuable listed company in the world, knocking out Saudi Arabia’s state-owned oil company just in July. Cook spent many years in the company rebuilding the supply chain using “just-in-time” production principles, such as reducing inventory, after Steve Jobs hired him from Compaq to be Apple’s COO. By most accounts, Cook has taken a more focused, cautious approach than his predecessor, but Apple’s revenue and profits have both more than doubled since he became CEO.

How the legacy of Apple-building holds over time is not clear; At the moment, Apple and other companies with large production activities and customer base in China are trying to determine how President Trump’s ban on some Chinese companies will affect them. But Apple is rolling with time nowadays; Revenues for the last quarter showed that it is booming in the midst of the pandemic that has swept many other companies. In its third quarter, Apple had $ 59.7 billion in revenue, up 11 percent from a year ago. And it is approaching a market share of 2 trillion dollars.


Source link