Apple CEO Tim Cook is now a billionaire

Tim Cook

Tim Cook. , Bloomberg

He's come a long way from Robertsdale, and now Alabama native and Apple CEO Tim Cook can add another title - billionaire.

Cook has spent 22 years with Apple and took over the company from Steve Jobs in 2011.

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Apple boss Tim Cook has achieved billionaire status as the iPhone maker comes within striking distance of becoming the first ever USA company to hit a $2 trillion (£1.53 trillion) valuation.

However, the company is on the brink of becoming the world's first $2 trillion company after it revealed an 11pc increase in revenue to $59.7bn in the three months to the end of June, defying analyst expectations. According to calculations by Bloomberg, Cook's net worth recently eclipsed the $1 billion milestone. Apple's share price rose nearly 5 percent last week, bringing the company close to a historic $2 trillion (roughly Rs.149 lakh crores) in valuation. Advertisement He was a longtime Jobs lieutenant, signing onto the company in 1998 as SVP of worldwide operations, striking critical deals with manufacturers to help Apple become a hardware powerhouse. Tim Cook owns 847,969 shares in the technology firm; he took home more than $125 million previous year as part of his pay package.

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Cook has a base salary of $3 million. Under Cook, the company has overseen the development of the iPhone X, Apple Watch, Apple Music and other products.

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