iPhone X Sales Help Boost Tim Cook's Net Worth by $34 Million USD
Pocket change.
Apple‘s latest flagship device, the iPhone X, finally hit shelves this past Friday, and thanks to its impressive sales, Apple CEO Tim Cook saw a substantial increase in his net worth. Cook’s current estimated net worth was at $666,497,782 USD as of Friday, meaning he’s made upwards of $34 million USD over the week, according to Dan Marcec, director of content at Equilar.
The calculated figure is based on Cook’s stakes in Apple as well as Nike, where he serves as the lead independent director. It’s also important to note that this calculation does not include any property he owns or additional assets, which means Cook’s actual net worth is likely much higher.
The newest iPhone is Apple’s most advanced smartphone ever made, released a decade after the original iPhone. Apple’s stock ended up hitting an all-time high of $174.10 USD on Friday, briefly becoming the first $900 billion U.S. company, before closing at $172.50 USD.
The company doesn’t expect to lose any momentum. During a conference call with analysts, Cook stated:
“The China rebound was broad based across the products. I mean we literally were firing on all cylinders. That and our new products give us great confidence headed into this holiday season that this is going to be the best holiday season yet.”
In case you’ve missed it, Casey Neistat hit up the iPhone X lines in New York City.
