People like Bill Gates, Jeff Bezos, Mark Zuckerberg, even Elon Musk are some of the richest people on Earth with each of them being a billionaire in the double? or even triple digits. And now Apple¡¯s Tim Cook has joined this list.
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A recent report by Bloomberg has discovered that Apple CEO Tim Cook has passed the $1 billion mark, making his way into the billionaires club. Even though he¡¯s got a lot of catching up to do (Bezos sits at $187 billion, Gates at $121 billion and Zuckerberg at $102 billion), it is a commendable feat, considering unlike the aforementioned billionaires, Tim Cook isn¡¯t Apple¡¯s founder.
It is, in fact, incredibly rare for a non-founder to become a billionaire. However, Cook is the leader of the most valuable publicly traded company in the world. Tim Cook joins this list as Apple slowly approaches $2 trillion in valuation. Just to put things in perspective, when Steve Jobs left the company, the valuation was around $350 billion.?
?The secret sauce for Apple, and by extension, Tim Cook¡¯s success is the years of clever resources management. After coming to Apple from Compaq in the year 1998, Tim Cook rebuilt the supply chain at Apple, applying ¡®just-in-time¡¯ manufacturing principles that looked at reducing inventory. Since the time Tim took over the reins of the organisation, Apple¡¯s revenue and profit have doubled.?
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While COVID-19 pandemic is making organisations and governments around the world suffer, Apple reported being thriving in its third-quarter earnings -- $59.7 billion in revenue with a 11 percent increase from a year ago.?
According to the report, Cook in 2015 had said that he plans to give most of his fortune away and has already gifted millions of dollars worth of Apple shares. The report also highlights that his wealth could be lower if he¡¯s made other undisclosed charitable gifts.