How Tim Cook Makes And Spends His Millions
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- Опубликовано: 28 авг 2024
- Apple CEO Tim Cook's estimated net worth is $625 million, lower than most of his tech CEO peers, and he spends his wealth much more frugally than many others. His leadership at Apple has led to a shift in philanthropic giving.
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#Apple #TimCook #BusinessInsider
Following is a transcript of the video:
Tim Cook is worth an estimated $625 million. As the CEO of Apple, he's the first openly gay CEO in the Fortune 500. And in 2018, Apple became the first US company ever to be worth $1 trillion. But compared to his counterparts in the tech world, his net worth is pretty modest. Google founder and Alphabet CEO, Larry Page, is worth $53 billion. Facebook CEO, Mark Zuckerberg, is worth just under $70 billion. And Amazon CEO, Jeff Bezos is the first person in modern history to accumulate a fortune north of $100 billion
Cook doesn't lead a lavish lifestyle and has said, "I like to be reminded of where I came from, and putting myself in modest surroundings helps me do that." The Alabama native had a humble start in life as the son of a shipyard worker and pharmacy employee.
When he was promoted as Apple's CEO in 2011, his base salary was $900,000, and has risen to $3 million in 2017. He also receives a cash incentive based on the company's performance, which pushed his total pay for 2017 to over $12 million. But his net worth consists mainly of $622 million worth of Apple's stock and options he has collected since becoming CEO. And $3.4 million of Nike stock options he gets as a member of Nike's board of directors.
So, how does Apple's leader spend his fortune? Quite differently than other CEOs of tech giants. In 2012, he bought a 2,400 square foot home in Palo Alto, for $1.9 million, the median cost of a home in Palo Alto in 2018 is $3.3 million. And his frugality doesn't stop at the housing market. He reportedly buys his underwear at Nordstrom's semi-annual sale.
But Cook does splurge when it comes to donating to good causes, a philosophy that differs from that of his predecessor, who lacked a record of public giving. He encourages his employees to give and has led Apple into many philanthropic endeavors. In 2011, he instated a company-wide, nonprofit donation matching program. Over the past 10 years, Apple has contributed $130 million to help RED fight AIDS, $100 million to advance diversity in tech, through President Barack Obama's Connected initiative, $50 million to hospitals, and more.
Cook practices what he preaches, too. He's donated to civil rights efforts and in 2018, he donated more than 23,000 shares of his Apple stock, valued at just under $5 million to an undisclosed charity. He also regularly makes campaign donations. He's hosted fundraisers for Barack Obama and Hillary Clinton and in 2016, he donated $236,000 to the Hillary Victory Fund.
Cook's altruism even applies to his future financial plans. He intends to use his wealth to put his nephew through college. And upon his death, he plans to give away all his money to good causes. He told Fortune magazine, "You want to be the pebble in the pond that creates the ripple for change."
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How Tim Cook Makes And Spends His Millions
I don't get why you compared him to 3 other billionaires who were literally the founders of their respected companies.
SeSe but even steve wasn’t that wealthy
Jose Vera uh wasn't he worth about 65B?
@@spinLOL533 Most of that was Disney stock, Jobs sold all but one of his original shares in apple when he was fired.
Perhaps cuz they're all CEOs
Totally! He's comparing ceo of a company to the founders of other companies.
He should compare him with the likes of sundar pichai or satya nadella!
*He buys things & **_Cooks_** them*
_Bob McCoy Tim buy things and Cooks them sounds better
_Bob McCoy God damnit.
🤣
*Bo l D* is pre *ty* *co0* l
Ur everywhere
You shouldn't compare a CEO with a Founder CEO. That's ridiculous. Of course the Founder is going to be weathier as they hold equity from the very beginning.
And they took massive risk.
@@MusicalMemeology great point!
@@MusicalMemeology fax.
Must have compared him with Sundar Pichai or Satya Nadella.
Yea, those are founders/cofounders he's comparing with, obviously they hold more shares of the company compared to an appointed CEO.
sundar pichai is only CEO of Google , and even there he only manages small things .
@@Q_QQ_Q *Are you high? Sundar is the highest paid US CEO. He is worth $1.2B. What he manages is the core business of Alphabet, that is advertising, product development, and everything in between. There is a reason why he was made a CEO. He had been doing what a CEO was supposed to do for a while as an SVP/EVP before he was made a CEO. People don't get made CEOs if they just do "small" things, especially at a company as big as and as relevant as Google.*
@@Q_QQ_Q dude stop taking drugs
@@Q_QQ_Q wtf is wrong with you??
When u get in the hundreds of millions, wealth just becomes a number.
Then what is it before too get into the hundreds of millions?
@@fahad-m62 just steadily growing wealth where u can still achieve a point where there is no one object too expensive for u to buy.
@@fahad-m62 I think he's saying at some point that money can't get you anything, it's just a number.
Like how in the past a king would have 700 wives and 500 side chicks, he probably couldn't remember all of their names, and just called them "Honey" "sweety" babe".
Unless he buys a whole bunch of houses, he can never actually spend all of that money.
Exactly.
At $100 million, it stops mattering. You could buy virtually anything. You could literally drop everything you were doing, if you wanted, and just live out your life.
@@TheBoxingNinja Actually I mean after 100 mil or so, it's so much money that you can already afford anything in the world and get anything you want. Any more money wouldn't really benefit you anymore, unless you donate a lot to charity.
Tim Cook is gay? Damn. I never knew.
me is gay too. Now you know
Hahaha , why you got that doubt ??
Thats why apple sucks
• NotSoCoolGuy • before you commit to something can I ask why ur suicidal? usually lgbts are the happiest amirite
• NotSoCoolGuy • Sorry for your struggles, but you nothing to be ashamed of for being gay. If you aren’t already an adult, when you are one you can live your own life with people that support you. Don’t take your life because you’re surrounded by intolerance, you can escape that. Especially, don’t listen to trolls on the internet.
He’s a good man
He’s not a good man... he’s a leader
He means that he does not like to spend that much
@@soilder_of_allah does being a leader prevent you from being a good man ?
@@younes-47 more than a good man
@@soilder_of_allah the real good man is Steve jobs Tim is a bussines man . Apple today is just company which over charges for everything
Behind every successful rich man there is an investment behind it
What does him being gay have yo do with the video lol
john doe ew gay
@@Wagmiman ew a corpse from the 15th century.
5 seconds outta a 3:42 minute video. It doesn't have to do with the entire video
He's the first openly gay CEO on the Fortune 500 List.
its called background information
You can buy so much ramen noodles with that money
That's a lot of ramen noodles
You could fly your whole family to Japan just to have reasonably priced ramen noodles there
You could build a replica of the hidden leaf villiage just to have reasonably priced ramen in the shop there along with paid actors pretending to be ninjas
Angelica Vargas when you leave the middle class but the middle class wont leave you
Whis!
wrong comparison you are comparing Tim cook's net worth with founder ceo of other companies
Yes is like comparing the employee with the boss who makes more? and who has more? of course the Boss will be #1.
He was handed an amazing company. He has been compensated plenty.
He donated 236k to Hillary but had dinner with Trump!
Trump and Hillary are confirmed connected?
*gasp*
Maybe he’s smart like any businessman should be and gets along with everyone?
So? Why not? America is so damn tribal. Its ridiculous
Who do you think is more interesting to have dinner with?
He is openly GAY
I think Tim is an great person who helps others
I bet he makes most of his salary selling overpriced adaptors....
Yea he makes millions selling 9$ adaptors.
And selling 1$ stuff for 100$
@@anandhua.b4589 please name one of those items.
Hi! I am a donut. Apple is a rip off and u are blind if u can’t see that
@@bibletwink666 apple pencil...not even $1 it should be free in the box
"Modest surroundings"...still in the 1% 😂
0:40 the difference is, these guys created the company. Tim Cook is the CEO. There's a difference. If you want a more accurate comparison, the compare Steve Job's net worth with theirs, or compare Tim Cook's with Sundar Pichai, etc.
Sundar pichai's net worth is 1.2 billion usd
@@balakrishnanganesh8613 still more accurate than comparing his with 53 billion all the way up to 100 billion
@@Krish_krish sundar is worth 2x more than tim
@@harrylaflare846 read what I replied to @balakrishnan ganesh
@@Krish_krish oh sorry
Much respect, awesome human being! Tim Cook I admire you, thank you! ❤️
Tim cook isn’t that great of a human being. Apple has done some shady things with taxes
@@googleisgod963ever large company does
I like the editing at 2:39 that syncs the narration with Obama. Nice job.
“Pretty modest”
I’m just here ordering from Pizza Hut
There are kids starving in Africa and you complain about pizza hut?
I just had domino’s 😂
How does such a greedy company like Apple have an amazing selfless CEO. Unless this isn’t Tim cooks complete story 🤔
Greedy? Expensive but not greedy.
Hi! I am a donut. If you dig deep into Apple you will realize how greedy this company actually is.
@@InvestingHustler please provide examples.
Investing Hustler they may be greedy, but they aren't do anything bad with the money, so I don't see a problem. in fact I believe they are doing a lot of good for the world
@@jeanbatiste you mean like trying to sue people for repairing their products?
Tim cook actually keeps his private life away from the press and he does it well. That’s why there is not a lot of information about him in these kind of videos, even in his biography the information about him is not as descriptive as other CEOS’
3:16 Even a CEO of the richest company in the world is struggling with paying for his nephew college :/
The world's costliest college is 72k a year. I dont get it. Why is cook saving his money for his nephew's college?
Only a 3 million dollar home?
How the fk is he so humble and modest?
Lmao 😂😂
he can shed some shares and get that Bugatti
That’s like a one bedroom house in that area lol.
A 3 million dollar home in California is modest and average if you looking Californias real estate market
Dude a $3 million house in the Bay Area gets you nothing
He bought a million dollar house in a million dollar neighborhood when I can’t even buy a $100k house yet.
2 years later....
I can't even buy a house lol
“His net worth is modest”
"Compared to other CEOs"
Thank you. for donating.
I think he secretly buys fast charging adapters 😂
That's amazing thing to know..apple who is known for being a rip off actually have a generous CEO.. God you are great.
His speech at the ADL was one of the scariest thing I've ever heard.
This Nordstrom sale the video speaks of is definitely much better for men's things than anything else lol
The way they lined up Obama and the narrator saying connect-ed initiative (2:39) was so satisfying
Steve jobs was a legend and about innovation, this guy is just about money.
Finally found a video of such kind that doesn’t make me feel poor
Spends them to make devices that can only make me feel sad about my self for being poor
Tim Cook is a good CEO but not a good visionary. Steve Jobs innovated and gave Apple the wow factor. When’s the last time since Steve Jobs died that apple has really released something that changes this industry?...
Apple Watch.
Like it or not ... Apple was and still is the driving force behind the promotion of more usage of wireless technology like Bluetooth , people just accuse apple of one thing and later form a herd behind them .... Example : the notch, the removal of headphone jack, secure facial recognition ( although it existed a long time before on other platforms, yet we saw a rise of facial recognition related unlocking after apple's face ID.
Face ID, AR, wireless technologies like how the AirPods work, neural engine, Secure Enclave tech, Apple Pay, iMessage & FaceTime, Apple Watch, Apple TV...lol every single one of these things were copied by other companies. Including removing the headphone jack and notch design...like it or not, Apple still very clearly leads the industry.
Touch ID
Well, Steve Jobs used to say “any tech company must be proud of themselves for being able to develop and introduce to the world ONE ☝🏼 revolutionary product.” And that he was also very proud of apple for, at the time, having created 2 revolutionary products (the Macintosh and the iPod).. he said this when he introduced the iPhone. That one being the third for Apple.
I can agree with you that, regardless of how good they are, neither the iPad, the Apple Watch or the AirPods fall in that “Revolutionary” category.
But they still have time to create that fourth one. And if they don’t, it doesn’t matter. They will always have those 3 under their belt.
Tim Cook is the only thing I like about apple
They even know where Tim Cook bought his underwear 2:03
Ladies and Gentleman, we got him.
The key word is ceo vs ceo+founder......how do you expect them to be on the same level 🙄
And now he is worth 2 billion dollars
Whatever you think of the man, he is quite a nice person.
It’s unfair to compare Tim Cook to CEOs that are also founders. Tim Cook works for Apple, and that’s great, it has worked out stupendously for him. But he hasn’t founded anything. And that’s fine.
You can’t compare Tim cooks net worth to these guys because he remember he is not a founder
If Tim Cook really cared why doesn’t he put an end to the inhumaine working conditions at apple manufacturing plants?
It's not Apple's manufacturing plants; it's Foxconn.
A. Apple doesn't own those plants, they contract out their manufacturing to other companies
B. He has. He's put in a lot of effort and has made hours much more reasonable. He's made it clear to the higher ups in those other companies he wants people to be treated fairly
Then create your own factories instead of using someone else.
Cayden Thompson they literally did. They built a factory in the US to build iPads, but they can’t build all of their products themselves, they have too much demand
Nah, he's too busy accepting awards for censoring perspectives he doesn't agree with while encouraging people to be open to other opinions...all the while met with thunderous and mindless applause.
He is now my favorite CEO
Why?
If he gives, then why is apple so damn expensive
He steals from the rich and gives to the poor.
so he can give
PercyTheBird because they need money for advertising, manufacturing, software, Research, parts, to pay their workers, etc thats why
Because it’s a freaking luxury brand not a standard tech company that’s why
PercyTheBird supporting a product for more than 5 years, creating a reputable brand, investing in real R&D, and not tracking and selling user’s information for money is all expensive lol. Hell, just that last point about user privacy makes up the cost. Google and Amazon and Facebook and shit just track you across the web with no regard to your privacy...they don’t sell you a product - you are the product in their case.
Life is to Love and to be Loved ❤️ Love alone can Conquer the World
Why are u all worried about what he does with his money he worked for it he can do whatever he pleases
2:42 they did surgery on a human.
If these CEOs were really concerned with giving back, they would pay their taxes and the staff along the supply chain a living wage...
J Mulc that’s not exactly what you’re supposed to do
Clearly don’t know what you’re talking about
lol rich people are rich because they avoid taxes by tax haven and they know the laws where taxes due.
@@gabrielonibudo5710 Apple has avoided paying $40 billion in the US and €13 billion to the EU, whilst workers making his phones are throwing themselves off their factory rooves. He doesn't give a shit about giving back.
You forgot to say Sponsored by Apple.... 😂😂😂😂
Saleh Hashmi so anything positive about apple has to be sponsored sponsored now? lol
He doesn’t deserve this salary. Under his poor leadership Apple’s growth is stunned. A good manager would have seek out new markets but Cook is just contend with maintaining Apple
Steve jobs wasn't miserly in his life. He just didn't dig the public practice of donating in a big show. Generosity shouldn't be public imo.
I already like this guy for being very generous.
Just because he doesn’t spend on housing and clothes, it doesn’t actually mean he doesn’t spend a lot of money. He does. It’s just that there’s no way you’d know...
I feel like all these rich people just give money to charity due to public pressure, NOT THAT THEY ACTUALLY WANT TO
Tim is the type of gay that isn’t gay in your face
1bln usd nowadays...
When you're less the 1% of Jeff Bezo's net worth lmao
If your a billionaire in America of course you're going to live modestly that's how they are all are
50% of the $625 million he makes is from dongles and accessories of iPhones. Lol
I want to be a billionaire so freaking bad...
Everyone does and everyone thinks they have a chance to be one, even when the overwhelming majority never will even reach millionaire status. Cool thing about capitalism is, the propaganda is passively made.
He is a good human.
He invests his money on improving Apple products so it can break faster.
625 million is a pretty modest net worth? God damn... I'm not even worth a 1000th of that.
Me when I saw the thumbnail:wait what? It thought he was dead.
My favorite CEO. And Mark Beninoff.
Video starts at 1:42
Please Tim, stay on the sidelines. The social values you believe there in Silicon Valley are not backed by evidence. We shouldn't all have to share your ideologies.
From the root word cook. He is cooking
His humility has nothing to do with running a publicly owned company. At the end of the day he works for shareholders. Which only have one bottom line “profits”.
now he is billionare
You will take my Eyes
Now elon musk is the richest
Special Regards and Love for you 💗
He is a good person. But not the best when it comes to coming up with ideas for phones.
$625M !? 🤔 I didn’t know He was that Broke !! Lol
Junito Punto Comm broke??
If he’s broke then I don’t know what we are
amazing... I suggest we begin measuring our worth in human terms... this is mc'crazyness!!!
he.can buy earth and human....!!😂😂😂😂😂✌✌✌✌
I mean, for all these CEOs of the top companies, it must be the intrinsic motivation rather than extrinsic one like money that drives them to excel. They all already achieved financial freedom before they were promoted to CEO. Tim just found less passion for money or spending them on himself.
You can’t compare tim to these other CEOs because they founded their respective companies. Plus, Tim sets his own salary low just like Steve did prior
*He gets his money from sheep*
Those Are Big Shears
Fact check. Macy's CEO is also openly gay.
Admirable man!
he doesn't spend millions he makes his buyers spend millions "cough cough" 5000 for a iMac
Frugality of spending a Million + on a house.
I wish Tim Cook becomes the richest man
I'd spend the millions on Robux
Giving money to politicians is not donation but business. When they come into power in return would expect 100 times more what he has donated.
You compared him to founders of tech companies. He’s a CEO and didn’t start Apple. Poor comparison.
Semua net worthnya bisa dibeliin endol brp gelas?
'Steve Jobs's.' Lol that journalist should've been fired for that grammar.
the most humble person my role model Timothy Donald Cook !!
A trillion plus profited company and he doesn’t even have a billion? Something is off.
Industrial engineer boss
He is a role model.
they loot people by their extra overpriced things & give those money to charity.........😑 they are like modern day Robinhood
Yes but robinhood didn't give out the best smartphone,laptop and etc.
@@bibletwink666 how many of the items can u afford 🤑🤑🤑
@@menhazulhoque That has to do exactly what with your point?
Minhajul haque Typical modern day entitlement. When you can’t afford things, first thing you do is blaming companies charging too much rather than how little money you make.
Here’s an easier way to solve your frustration: Go buy cheaper brands.
Nope
This is absurd Tim Cook is an employee who is ruining apple while Steve Jobs was the founder
He is modern day Robin Hood, taking from the rich giving to the poor
Can Nobody hear the Narrator saying Billion instead of Million at 1:52 ?