Tim Cook is stepping down as Apple’s CEO, assuming a new role as executive chairman, and John Ternus is filling his previous position.
But as new roles have been announced at a more than a trillion-dollar company, there has been a massive pay gap between the duo.
Tim Cook’s net worth
Cook has legendary fame in Silicon Valley, becoming one of the most successful CEOs in modern history.
Riding the success of his career, the tech giant reportedly built a network valued at nearly $3 billion. Most of this mouth-watering wealth rested in Apple stock, of which he holds over 3.2 million shares, worth almost $890 million.
But that’s not all: Cook has expanded his net worth, as his portfolio also includes Nike stock, which is worth close to $6 million.
John Ternus’s net worth
Joh Ternus, the incoming CEO, whose net worth, however, dwarfs that of a tech titan. With $75 million, that is a fraction of what his senior head cook had.
However, Apple’s incoming CEO is expected to receive $70 million a year, up from $20 million as senior vice president of hardware engineering – his previous stint at the company.
Meanwhile, Apple shared a key change in the company, “Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition.”
It is worth noting that Ternus will mark the eighth CEO of Apple.
