According to Bloomberg Billionaires Index, the net worth of Cook has eclipsed $1-billion mark, officially making him a billionaire.
“Cook owns 847,969 shares directly and took home more than $125 million last year as part of his pay package,” reports the BBC.
The milestone comes 9-years after Tim Cook took over from Steve Jobs, who died in October 2011.
Last week, Apple surpassed Saudi Arabia’s state-owned oil company Saudi Aramco to become the world’s most valuable company.
The massive earnings helped Apple shares closed up 10.47 percent to become the world’s most valuable publicly-traded company, surpassing the largest oil producer in the world.
However, Cook still has a long way to meet up with other CEOs on the Bloomberg Billionaires’ list, like Amazon Founder and CEO Jeff Bezos ($187 billion), former Microsoft CEO Bill Gates ($121 billion) and Facebook CEO Mark Zuckerberg ($102 billion).