Apple CEO Tim Cook delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple's Cupertino, California campus. Apple unveiled new products during the event.
(Picture: Getty Images)How much wealth does it take to categorize someone as ‘rich’? Well, one writer has weighed in, and the threshold seems pretty high.
The Hustle tech writer Trung Phan took to Twitter to drop some thoughts on whether it’s best to own your own business or be an employee - and in doing so gave his judgement on Apple CEO Tim Cook’s net worth.
“Tim Cook has been Apple's CEO since Aug. 24, 2011. Over this span, Apple's market cap has jumped from $340B to -- just today -- $3T. Despite this massive gain, Cook is only worth $1.5bn,” Phang wrote.
He concluded, “LESSON: You don't get rich being an employee.”
Tim Cook has been Apple's CEO since Aug. 24, 2011. Over this span, Apple's market cap has jumped from $340B to -- just today -- $3T.
— Trung Phan 🇨🇦 (@TrungTPhan) January 3, 2022
Despite this massive gain, Cook is only worth $1.5B.
LESSON: You don't get rich being an employee. pic.twitter.com/EjriD19Sj2
Referring to someone with a net worth of $1.5 billion as not rich is pretty much a first-class ticket to a debate online.
It appears as though the writer attempted to make the point that owning more shares in a company as opposed to simply being an employee with nominal stock won’t result in excessive wealth.
Sign up to our new free Indy100 weekly newsletter
Of course, many people did not agree with Phan’s take and mocked the concept of Cook not being impressively affluent.
Even though in the following tweets of his Twitter thread Phan clarified that the initial tweet “was a joke,” it was too late and the comments and quote retweets have raged on since.
“Ugh, this take again. This is SUCH a bad take. You don't get rich?! He's a billionaire!” one person wrote, adding: “The take should be, you get a percentage of the value created by large corporation based on the % you own. Which is probably a good thing.”
Ugh, this take again. This is SUCH a bad take.
— Henrique (@hsaboia) January 3, 2022
You don't get rich?! He's a billionaire!
The take should be, you get a percentage of the value created by large corporation based on the % you own. Which is probably a good thing.
I like most of your content, so thanks for that.
“Most people would categorize someone with a net worth of $1.5bn as being ‘rich,’” said another person. They added, “Working your way into a 7-8 figure C-Suite position is actually a very dependable way to get rich. Entrepreneurialism is hit and miss. Investing, even if done well, requires a long time to pay off.”
Most people would categorize someone with a net worth of $1.5bn as being “rich”.
— Lyall Taylor (@LT3000Lyall) January 4, 2022
Working your way into a 7-8 figure C-Suite position is actually a very dependable way to get rich. Entrepreneurialism is hit and miss. Investing, even if done well, requires a long time to pay off.
“Barely a billionaire. Embarrassing,” another joked.
Barely a billionaire. Embarrassing.
— Douglas A. Boneparth (@dougboneparth) January 3, 2022
One person hilariously tweeted they will be starting a GoFundMe for Cook.
Starting a GoFundMe for Tim https://t.co/tpNKLCmKVp
— tariq panja (@tariqpanja) January 3, 2022
“’only $1.5b’
"only $1.5b" <- more than you, me or Tim could ever spend in multiple lifetimes. bruh. That's rich
— Adam Singer (@AdamSinger) January 4, 2022
To which Phan tongue-in-cheek replied, “but can he start a space company?”
