Apple’s stock climbs, Tim Cook becomes a billionaire

There is a lot of work that goes into being a chief executive of any company, and Apple is certainly no different. And now Tim Cook can say he’s achieved billionaire status for all that hard work.

On Monday, as Apple’s stock continues to climb, the company’s CEO, Tim Cook, officially earned another major milestone: he’s now a billionaire. The chief executive’s net worth has officially surpassed $1 billion. That’s according to the Billionaire Index fromĀ Bloomberg.

Apple’s share price rose 5% last week, and if it continues to trend in this regard then the company itself will reach another milestone of its own: $2 trillion market cap. Apple reached the $1 trillion market cap milestone back in August of 2018.

Interestingly, as far as the world’s 500 richest people are concerned, Tim Cook doesn’t even register. Amazon’s current CEO, Jeff Bezos, and Microsoft’s former CEO, Bill Gates, are both on that list, though.

Apple itself has seen a steady climb as far as the stock market is concerned for years now. Steve Jobs, Apple’s former CEO and co-founder, died in 2011 and Cook took over as the chief executive after that. In 2011 Apple’s valuation was set at around $350 billion. And now the company is nearing $2 trillion. Quite the feat for Cook and crew, especially as the company leans more and more into services like Apple Music, Apple Arcade, the Apple Card, and others.

Cook, for his part, typically donates a lot of money to charities that he deems worthy. That will probably continue to be the trend for the executive, even as he reaches billionaire status.