Apple CEO Tim Cook has entered the billionaires club for the first time as the Cupertino-based iPhone maker broke all previous records and is now the world's most valued company at over $1.84 trillion. The net worth of Cook has crossed the $1-billion mark, officially making him a billionaire.
Cook, however, still has a long way to go to catch up with other CEOs on the Bloomberg Billionaires' list, like Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion).
"Cook owns 847,969 shares directly and took home more than $125 million last year as part of his pay package," reports the BBC.
Apple is now closing in on the milestone of being the first company to be valued at $2 trillion.
Apple CEO Tim Cook has said that strong iPhone SE launch, continued economic stimulus and some benefit from restrictions lifting around the world saw iPhone revenue grow 2% to $26.4 billion in the June quarter.
The active installed base of iPhones again reached an all-time high as a result of the loyalty of Apple customer base and strength of its ecosystem.
In April, Apple expected year-over-year performance to worsen but saw better-than-expected demand in May and June.
"We expected iPad and Mac growth to accelerate and we saw very strong double-digit growth for these devices this quarter. This remarkable performance came in spite of supply constraints on both products," Cook told the analysts recently during an earnings call.
Last week, Apple surpassed Saudi Arabia's state-owned oil company Saudi Aramco to become the world's most valuable company.
The strong earnings report helped Apple shares closed up 10.47% to become the world's most valuable publicly traded company, surpassing the largest oil producer in the world.
Riding on its growing services and wearables business, Apple is set to become the first company ever to touch the $2-trillion valuation mark.
Apple was the first US company to cross the $1-trillion mark in 2018.