Tim Cook's net worth reaches $2 billion, despite his salary being cut this year

When Tim Cook took over the leadership of Apple after Steve Jobs, he faced challenging tasks. However, Cook's diligence and strategic vision brought him not only recognition but also significant financial rewards. Recent data published by Forbes indicates that his net worth is estimated at $2 billion. He owns millions of Apple shares, the combined value of which reaches hundreds of millions of dollars.

According to the updated Forbes statistics, Tim Cook, the CEO of Apple, is valued at $2 billion, placing him at the 1583rd spot on the list of the world's richest people. His assets include approximately 3.3 million Apple shares, valued at nearly $652 million at the current market price.

In 2022, his compensation amounted to about $100 million, sparking lively discussions among the company's shareholders. This sum included both salary and Apple shares, with a portion of the shares tied to the company's performance. It is essential to note that the compensation for Apple executives is closely linked to the company's successes, and under Cook's leadership, Apple consistently achieved its targets.

In 2023, amid widespread layoffs in major technology companies, including Microsoft, Google, and Amazon, Cook demonstrated leadership qualities by reducing his salary by 40%. As a result, his annual income in 2023 was approximately $49 million, including stock options. Cook emphasized that layoffs at Apple were considered a last resort. Unlike other tech giants, Apple did not pursue an aggressive hiring policy.

Under Cook's leadership in 2023, Apple reached a market value of $3 trillion, despite a 3% decrease in its financial revenue compared to the previous year. Analysts anticipate that by the end of 2024, Apple's market capitalization could reach $4 trillion. They also estimate Apple's services sector at $1.5–1.6 billion, including products like iCloud, Apple Music, and the App Store.

Tim Cook elevated Apple to a new level by developing and launching products such as the Apple Watch, transitioning from Intel processors to proprietary M-series chips for Mac, and entering the mixed reality segment with the premium Apple Vision Pro headset. It is expected that shipments of the headset will commence in February 2024. These steps underscore Tim Cook's significance for Apple and undoubtedly justify his earnings.