Tim Cook joins the billionaires’ club

Tim Cook earnings apple
Tim Cook likes his currency the old-fashioned way.
Illustration: Ste Smith/Cult of Mac

The CEO of Apple reportedly passed a huge milestone: he’s now a billionaire. Tim Cook’s net worth has risen significantly, partially as a result of Apple stock more than doubling in value in the past twelve months.

But Cook is not likely to stay a billionaire. And not for the reason you might think.

The valuation of Cook’s net worth comes from the Bloomberg Billionaires Index. The publication says its estimate is “based on an analysis of regulatory filings and applying the market performance of a typical wealthy investor to his proceeds from share sales.”

Burt he’s well compensated for leading Apple. He earned $125 million in Apple’s fiscal 2019, for example.

Tim Cook’s net worth won’t stay over $1 billion

Bloomberg notes that its estimate of Tim Cook’s net worth might be wrong if the CEO of Apple has made undisclosed charitable gifts. And that’s very possible.

Cook has long planed to give his entire fortune to charity. Back in 2015, he told Fortune magazine about his intention. And that he’d already begun donating quietly. For example, in 2018, he gave 23,215 Apple shares to an unspecified charity. If he made that donation today, it would be valued at over $10 million.

Cook is 59 and has no children.