Apple has announced the appointment of John Ternus as its new CEO, succeeding Tim Cook, who has been at the helm since 2011. Cook expressed his gratitude for the opportunity to lead Apple, a company founded by Steve Jobs, and highlighted the dedication of its team. Ternus, who previously served as the Senior Vice President of Hardware Engineering, is expected to guide Apple through significant changes driven by artificial intelligence. His estimated annual salary is around $1 million, but total compensation could exceed $20 million annually, placing his net worth in the millions. In contrast, Cook's net worth is estimated at $2.5 billion as of mid-October 2025, reflecting his successful tenure during which Apple doubled its revenue and profits. Cook's base salary is $3 million, but his total earnings reached $74.6 million in 2024 and nearly $99 million in 2022, indicating a substantial financial difference between the two leaders.