Beautiful Virgin Islands

Thursday, Jul 03, 2025

Apple boss Tim Cook lands $750m windfall as pandemic fires up tech fortunes

Apple boss Tim Cook lands $750m windfall as pandemic fires up tech fortunes

APPLE boss Tim Cook has landed a $750 million (£500 million) share windfall, the latest evidence that the wealth of the very richest American CEOs has boomed during the pandemic.

The share award is part of a deal agreed last year that keeps him at the iPhone giant until 2026 and follows a 1200% rise in Apple shares since he succeeded Steve Jobs in 2011.

His total wealth is put at $1.5 billion by Bloomberg, an amount that is but a fraction of what other tech bosses have accumulated.

According to Forbes, US billionaires have seen their wealth surge by two thirds to $1.8 trillion during Covid, usually because the tech companies they founded have enjoyed an extraordinary rise in market value.


Lockdowns and the closure of large swathes of the economy saw the tech giants become vital to many people.

The political left in the US has called for windfall taxes on these fortunes to help pay for Covid relief packages and wider government spending.

Even those who don’t share that sentiment have worried about rising wealth inequalities and the power that has accrued to a small number of astonishingly rich people.

COMMENT: The billions landed by the tech bosses during Covid

Cook got five million shares in Apple, roughly around the time of his 10th year anniversary as CEO.

He has just sold most of them, according to filings to the US Securities & Exchange Commission, which also show he gave $10 million to an unnamed charity.

Cook has said he intends to give most of his fortune away before he dies, something fellow billionaires Warren Buffett and Bill Gates have also pledged.

When Cook first became CEO, many observers doubted he could continue Apple’s extraordinary run. Instead he dominated new markets, such as China, and helped the business develop new products and earn new fans.

Cook has also overseen more than 100 acquisitions by Apple and the development of a film studio.

Figures from Forbes show that from March 2020 to August 2021, the number of US billionaires rose from 614 to 708. In 1990 there were fewer than 70.

The UK has an estimated 171 billionaires, of which the richest is said to be Sir Len Blavatnik, a Ukrainian born energy and aluminium tycoon, with £23 billion. Property magnates David and Simon Reuben come second with £21 billion.

Yesterday it emerged that the incoming chief executive of Mike Ashley’s Fraser Group --- the holding company for Sports Direct – could land £100 million.

Michael Murray, 31, has to hit some stretching share price targets to land that prize, but the amount could stir fresh complaints about executive pay from MPs and the public.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
×