A new report says Tim Cook may leave his job as Apple’s CEO as early as next year. This has made the company speed up its search for the next leader. People who know what is happening inside the company say Apple’s board and top managers have become more active in planning what happens after Cook steps down. He has been the CEO for more than fourteen years.
Tim Cook first joined Apple after leaving his job at Compaq. Steve Jobs personally asked him to come. At that time Apple was struggling with money. Cook helped the company get back on track by fixing the supply chain and improving the way products were made. This helped Apple save a lot of money.
He became Apple’s CEO in 2011 when Steve Jobs stepped down. Since then Cook has continued to grow the company and made Apple one of the biggest names in the world.
Even if he leaves the CEO role soon, Tim Cook is still expected to remain connected to Apple. He is likely to keep his shares and also stay on the company’s board. This means he will continue to benefit from Apple in the future.
Reports say Cook owns a little over three million Apple shares. This is about zero point zero two one percent of the company. Arthur Levinson is the only person inside the company who owns more shares, holding around four point five million shares.
Tim Cook’s net worth is around two point five billion dollars. This makes him one of the three thousand three hundred billionaires in the world. But he is still far behind people like Elon Musk and Jeff Bezos. This is because Cook does not own a large part of Apple. He owns only a small share and earns his wealth mainly from salary and stock rewards.
In 2024 he earned around seventy four point six million dollars. This included a salary of three million dollars, stock awards worth over fifty eight million dollars, and more than thirteen million dollars in extra bonuses.
Many people believe John Ternus, who is Apple’s senior vice president of hardware engineering, will be the next CEO. But Apple is not expected to announce anything before its next earnings report in late January.