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Apple boss becomes a billionaire as share price climbs

Tim Cook has been chief executive since 2011 and at the company since 1998

Apple Inc. - Apple boss becomes a billionaire as share price climbs
He is dedicated to philantropy projects

Apple Inc’s (NASDAQ:AAPL) chief executive Tim Cook has become a billionaire as his stake in the tech giant continues to grow in value.

The iPhone maker shot up after a strong set of results and bullish outlook for the sector, getting closer to the dizzy heights of US$2 trillion of market capitalisation.

READ: Apple results hit new record defying fears of pandemic slowdown

It was the first company to be valued at US$1 trillion in 2018.

Cook, who stepped in to replace founder Steve Jobs in 2011, owns 847,969 shares directly and was paid over US$125mln last year. He joined in 1998 after a brief stint at Compaq and 12 years at IBM.

In 2015 he told Fortune magazine he plans to donate US$800mln fortune to charity before he dies.

Last December he donated US$2mln worth of Apple shares to an undisclosed charity.

The stock was trading 1% higher at US$453.54 in premarket trading.

Quick facts: Apple Inc.

Price: 115.32 USD

NASDAQ:AAPL
Market: NASDAQ
Market Cap: $1.97 trillion
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