(Image source from: AFP)
Tim Cook is resigning as the CEO and will become the Executive Chairman of the large technology company. Apple announced that John Trenus, who is currently the senior vice president of Hardware Engineering, will take over the CEO position from him. Cook has been in charge of Apple for almost 15 years. Apple states that he raised the company's worth from $350 billion to $4 trillion, marking a rise of 1000% in market value. With a wealth of $2.9 billion, according to Forbes, Tim Cook lives a life that balances modesty and luxury. He holds about $800 million in Apple stocks and possesses a large collection of real estate. His main home in Palo Alto is a luxurious but understated 2,400-square-foot property, as mentioned by a Business Insider report. Fortune indicated through public records that he bought the house for $1.9 million in 2010. It is situated near the home of Steve Jobs and close to Apple's headquarters, along with Larry Ellison's estate, who is among the richest people worldwide.
Although many details are kept private, it is reported that Cook has a lavish mansion in La Quinta. Business Insider mentioned that he bought this property for $10 million. This five-bedroom, six-bathroom residence includes a custom billiards table, a lavish infinity pool, and a swim-up bar, and it used to be near the homes of Kourtney Kardashian, Cindy Crawford, Kris Jenner, and Phil Knight. The billionaire CEO clearly enjoys the finer things in life. Tim Cook will remain in charge until September 2026, and despite his wealth, he is also known to be part of the 4 AM club. He wakes up very early and often checks his devices. The first thing he does in the morning is reportedly look at emails, sales figures, and international reports. He has a consistent workout schedule from 6 to 7 AM, generally followed by a protein-rich breakfast that includes egg whites, cereal with almond milk, and bacon.
In addition to his simple home, his car collection is often described as ‘not flashy’. With a net worth close to $3 billion, he possesses a BMW 5-series sedan, which he used for commuting in Silicon Valley. One of his earlier indulgences includes a Porsche Boxster. One of Tim Cook’s lesser-known investments is his time-share with Nike. He has been on the board of the sports apparel company since 2005 and is now the lead independent director. The report also highlighted that he invested significantly, buying Nike shares at $42 each, totaling an investment of $1.06 million. Tim Cook joined Apple in 1998 and became CEO in 2011. During his leadership, he played a key role in launching significant products like the Apple Watch, AirPods, and Apple Vision Pro. According to Apple, the annual revenue nearly quadrupled under his guidance, increasing from $108 billion in 2011 to $416 billion in 2025, with the company expanding its reach to over 200 countries and having 2.5 billion devices worldwide.
He is recognized for cutting Apple’s carbon emissions by over 60%, while also increasing profits in the same year, which was 2015. Now, with John Trenus stepping in, Cook mentioned him as, “an engineer’s mindset, a creative spirit, and the character to lead with honesty and respect. He is a forward-thinker whose impact on Apple throughout 25 years is already countless, and he is definitely the best choice to guide Apple in the times ahead,” according to an official announcement from Apple.
