American business executive and CEO of Apple Inc. Tim Cook is in India to inaugurate the firm’s first two retail stores in Mumbai (BKC) and New Delhi (Select Citywalk, Saket), respectively. While the launch of the store in the capital is scheduled for Thursday, the one in Mumbai has opened its doors already.
Cook, who was spotted leaving Mukesh Ambani’s Antilla and also relished local food with actress Madhuri Dixit, has been the talk of the town in the country since his arrival and has had people looking for more information about him. Fret not, we’re here with this piece in which we will chart out his journey, his education, salary, net worth and more.
Education
Cook got a Bachelor of Science in industrial engineering from Auburn University in 1982 and followed it with a Master of Business Administration from Duke University’s Fuqua School of Business in 1988.
Career
Before joining Apple in 1998, Cook worked for IBM, Compaq, and Intelligent Electronics. He started his career at Apple as Senior Vice President for Worldwide Operations and quickly became known for his supply chain management skills.
In 2011, he was named CEO of Apple after Steve Jobs resigned due to his health. Cook has since led Apple to become one of the world’s most valuable companies, introducing new products and expanding the company’s reach in various markets.
Net worth
As of 2023, Tim Cook’s net worth is estimated to be around $1.8 billion, primarily due to his extensive stock holdings in Apple. Despite owning slightly less than a 1% stake in Apple, Cook has amassed a significant holding of over 3 million shares and has sold off hundreds of millions of dollars worth of shares in the past.
Sources of Income
Cook’s primary source of income comes from his role as CEO of Apple, which pays him a base salary, stock options, and various other benefits. He also receives compensation for serving on the boards of Nike and the National Football Foundation.
Salary
Earlier this year, Cook made headlines as he took a 40 percent pay cut. At the annual meeting, shareholders officially confirmed that Cook will be taking a pay cut. According to the proxy statement filed by Apple, Cook’s target compensation for 2023 is set at $49 million, representing a reduction of approximately 40% compared to his earnings in 2022, which stood at $99.4 million, including $3 million in base salary and the rest in stock awards and a bonus.
As per Fortune, the 62-year-old has pledged to give away all his wealth in charity.
