Apple boss becomes a billionaire as share price climbs

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.