who-owns-apple

Who Owns Apple In 2022?

Name of Beneficial Owner Shares of Common Stock Beneficially Owned Percent of Common Stock Outstanding
The Vanguard Group 1,255,155,794 7.68%
BlackRock, Inc 1,057,340,486 6.47%
Berkshire Hathaway Inc. / Warren E. Buffett 907,559,761 5.56%
Tim Cook 3,279,726  
Art Levinson 4,590,710  

As of 2021, major Apple shareholders comprised Warren Buffet‘s Berkshire Hathaway with 5.56% of the company’s stock. Followed by other individual shareholders like Tim Cook, CEO of Apple with over 3.3 million shares, Artur Levinson, chairman of Apple, with over 4.5 million shares, and others. 

Does Steve Jobs still own Apple’s stocks?

If Steve Jobs kept Apple’s IPO stocks until the end, he’d probably be worth over a hundred billion dollars; since Apple in 2022 passed the $2.5 trillion valuation, Steve Jobs initially had an 11% stake in the company.

Thus his stake would have been worth over $250 billion.

However, when he left the company – after he was ousted – he sold his Apple stocks. It was 1985. He used that money to buy Pixar.

In 2006 Pixar got sold to Disney, and Steve Jobs got around an 8% stake in the company in exchange.

As shown in Walt Disney financials, Laurene Powell Jobs Trust still owned 7.8% of the company’s stocks in 2016, corresponding to 128,301,176 shares. As of 2018, that information is missing, which tells us that Jobs’ wife sold part of those stocks.

Thus, going below the 5% shares ownership:

steve-jobs-stocks-walt-disney-2016

From Walt Disney Proxy Statement of 2016

What about Apple Inc.?

If we look back at Apple Inc. Ownership structure in 2011, when Steve Jobs left us, we can see how many stocks he owned at the time:

steve-jobs-apple-stocks-2011

Those stocks, which amounted to 5,546,451, comprised 0.60% of the company (on a total of 921,043,522 shares at the time), which was held indirectly through a trust fund.

We don’t know how many stocks of Apple and Disney the trust run by Jobs’ wife owns. As the ownership has gone below the 5%, there is no obligation to file a report as a shareholder.

That is why Apple’s ownership, you might not see Steve Jobs.

Does Steve Wozniak still own Apple’s stocks?

To understand Steve Wozniak’s position when it comes to money, it is worth recounting what he said at the Nordic Business Forum in Sweden, as reported by Investopedia:

When it shot up high, I said, ‘I don’t want to become one of those people that watches it, watches it, and cares about the number,'” Woz said. “I don’t want that kind of care in my life. Part of my happiness is not to have worries, so I sold it all — just got rid of it — except just enough to still experiment with.

In another interview for Fortune, Wozniak said:

I do not invest. I don’t do that stuff. I didn’t want to be near money, because it could corrupt your values.

In a 2014 thread – after the movie “Jobs” came out – with a long comment on Google+, Steve Wozniak stressed a few points:

And when Jobs (in the movie, but really a board does this) denied stock to the early garage team (some not even shown) I’m surprised that they chose not to show me giving about $10M of my own stock to them because it was the right thing. And $10M was a lot in that time.

Referring to the fact that Jobs had denied stock options to one of the early Apple employees from day one. Steve Wozniak gave away $10 million of his stocks.

In short, Steve Wozniak’s net worth seems to be around $100 million.

Thus, even if that is expressed in Apple’s stocks that are way less than 5%, the amount required to be reported by law.

That is why you might not see Steve Wozniak among the Apple Inc. Investors.

What about the other investors?

When did Apple’s ownership change hands? 

As reported on Apple’s proxy statement for 2018, “5,087,056,000 shares of Apple’s common stock were issued and outstanding as of 2018.

Unless otherwise indicated, all persons named as beneficial owners of Apple’s common stock have sole voting power and investment power concerning the shares indicated as beneficially owned.”

apple-owners

Apple’s mythical founders, Steve Jobs and Wozniak, at that point already missed as they now own less than five percent of the company’s stocks.

The first two top investors for Apple are institutional investors:

  • The Vanguard Group
  • BlackRock, Inc.

The top five Apple individual investors are:

Art Levinson

Art Levinson is an American businessman and Chairman of Apple Inc. since 2011. He was addressed as Chairman to replace Steve Jobs in 2011, after his death. 

Tim Cook

Apple’s CEO Tim Cook was the former COO (chief operating officer) under Steve Jobs. Graduating from Auburn University in 1982, Cook spent 12 years at IBM. He joined Apple in 1998 until he became CEO in 2011.

Bruce Sewell

Sewell is an Apple executive who joined the company from Intel Corporation in 2009. He announced his retirement in 2017 after eight years of leading the company’s legal and security efforts.

Al Gore

Former US Vice President Al Gore has been sitting on Apple’s board of directors since 2003. Apple reported at the time, “Al brings an incredible wealth of knowledge and wisdom to Apple from having helped run the largest organization in the world—the United States government—as a Congressman, Senator, and our 45th Vice President. Al is also an avid Mac user and does his own video editing in Final Cut Pro,” said Steve Jobs, Apple’s CEO. “Al is going to be a terrific Director, and we’re excited and honored that he has chosen Apple as his first private sector board to serve on.

In February 2017, Al Gore sold part of its Apple stocks – more precisely, he sold 215,437 stocks at $136.72 as reported to the SEC – which netted him over $29 million.

According to the Apple proxy statement, he still owns 112,064 shares which, if he was going to sell at the current price – $215.36 – he could sell for over $24 million. 

Johny Sroujli

Johny Srouji is Apple’s senior vice president of Hardware Technologies, which now reports to CEO Tim Cook. He joined Apple in 2008 after working at Intel and IBM.

Apple’s KPIs

apple-kpis

Apple Corporate Governance 

apple-corporate-governance apple-corporate-governance-1

Key takeaway

Apple Inc. had a troubled history where it changed ownership several times throughout its history. When the company was going public, Steve Jobs didn’t recognize ownership of some of the early employees.

That is why Steve Wozniak sold at a symbolic price of $10 million worth of stocks to those early employees. Thus, he became a minor shareholder in comparison to Steve Jobs.

When Jobs was ousted from the company in 1985, he sold his Apple shares and moved on to Pixar. When Pixar got acquired by Disney, Jobs got almost 8% of the company.

At his death, the shares went to its trust, now managed by his wife. Part of the stocks in Apple and Disney were liquidated below the 5%. Thus making it impossible to know exactly how many shares the Jobs Trust owns.

Apple Inc. is owned by two main institutional investors (Vanguard Group and BlackRock, Inc). While its major individual shareholders comprise people like Art Levinson, Tim Cook, Bruce Sewell, Al Gore, Johny Sroujli, and others.

Notice that former US Vice President, Al Gore, has been on Apple’s board of directors since 2003. In 2017, Al Gore sold part of his shares for over $29 million. Now he owns a remaining 112,064 shares that, at today’s value, are worth over $24 million. 

Related to Apple

Apple Business Model

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Apple has a business model that is broken down between products and services. Apple generated over $365 billion in revenues in 2021, of which $191.9 came from iPhone sales, $35.2 came from Mac sales, and $38.3 came from accessories and wearables (AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and accessories), $31.86 billion came from iPad sales, and $68.4 billion came from services.

Apple PESTEL Analysis

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Apple Organizational Structure

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Apple has a traditional hierarchical structure with product-based grouping and some collaboration between divisions.

Apple SWOT Analysis

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Apple can leverage a strong consumer brand and set of successful products as a strength. Yet the company is still too reliant on the iPhone as a primary revenue stream. Though Apple is working to open up new markets as an opportunity, it has to make sure to sustain its stores’ sales.

Market Expansion Theory

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Apple Value Propositon

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Apple is a tech giant, and as such, it encompasses a set of value propositions that make Apple’s brand recognized among consumers. The three fundamental value propositions of Apple’s brand leverage the “Think Different” motto; reliable tech devices for mass markets. Starting in 2019, Apple also emphasized more privacy to differentiate itself from other tech giants.

Economics of the iPhone

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It costs Apple $570 to make an iPhone 13 Pro, and the company sells it at a base price of $999 to $1499.

Apple Business Growth

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iPhone and iPad sales represented the main revenue drivers in 2021. Followed by the service business (which comprises the advertising business), wearables/accessories, and Mac.

How do Apps Make Money

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Apps in the Apple Store follow five primary business model patterns: the free model, where the app might make money via paid ads. Freemium model where the app charges for premium features; subscription-based model, paid model, and paymium model is a mix of paid and freemium.

Apple Business Strategy

apple-business-strategy
When looking at the Apple Business Model, it is easy to assume that it is solely a product company which sells devices that are beautifully crafted. However, there would have been no success for the Mac without its OS operating system. There would not have been iPod success without iTunes. And no success for iPhones without the Apple Store. What’s next for Apple’s success?

Business resources:

Related Ownership Case Studies

Who Owns Google

The most prominent institutional shareholders are mutual funds BlackRock and The Vanguard Group, with 2.7% and 3.1%, respectively. Larry Page and Sergey Brin together have 51% of the voting power. Other individual shareholders comprise John Doerr (1.5%), venture capitalist and early investor in Google, and CEO, Sundar Pichai. Former Google CEO Eric Schmidt has 4.2% voting power. 

Who Owns Facebook

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Mark Zuckerberg is the largest shareholder of the company. Zuckerberg retains ownership and control of the company. Like Google, Facebook has issued two common stocks, Class A and Class B. The holders of Class B common stocks are entitled to ten votes per share, and holders of our Class A common stocks are entitled to one vote per share. Mark Zuckerberg has a voting power of 56.9%; he’s the main decision-maker.

Who Owns Apple

who-owns-apple
As of 2021, major Apple shareholders comprised Warren Buffet’s Berkshire Hathaway with 5.56% of the company’s stock. Followed by other individual shareholders like Tim Cook, CEO of Apple with over 3.3 million shares, Artur Levinson, chairman of Apple, with over 4.5 million shares, and others. 

Who Owns Amazon

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With 64,588,418 shares, Jeff Bezos is the major individual investor. Owning 12.7% of the company. Other top individual investors comprise Amazon’s CEO Andy Jessy, with 94,729 shares. Top institutional investors comprise mutual funds like The Vanguard Group (6.6% ownership) and BlackRock (5.7% ownership). 

Who Owns Microsoft

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Major shareholders comprise co-founder Bill Gates, who stepped down from the company’s board in 2020, which is why these shares are no longer publicly reported. In 2019, Gates still owned a stake of 103 million stocks, which accounted for 1.34% of the company’s ownership (worth over $23 billion in September 2022). Other individual shareholders comprise Satya Nadella, the company’s CEO, Brad Smith (former president), Jean-Philippe Courtois (EVP), and Amy Hood (former CFO).

Who Owns Tesla

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By 2022, most of Tesla’s shares are still owned by Elon Musk, among the company’s co-founders and the CEO. Elon Musk is the top individual investor, with a 23.5% stake in the company, equivalent to over 244 million shares. Musk is followed by Lawrence Ellison (founder of Oracle), with a 1.5% company stake. Ellison also sits on Tesla’s board. And Antonio Gracias, among the company’s first investors, has over 1.6 million shares. Other institutional investors and mutual funds like The Vanguard Group (6%), Blackrock (5.1%), and Capital Ventures International also have a good chunk of the company’s stocks.

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PayPal was first founded in 1998; it was called Confinity (among its founders was Peter Thiel); later, it merged with X.com, its major competitor, founded by Elon Musk (which would become known for other companies like Tesla and SpaceX). From this merger, PayPal was born. In 2002, PayPal was bought by eBay for $1.5 billion. eBay spun off PayPal in 2015, which would be listed as an independent entity. Today PayPal owns brands like Braintree, Venmo, Xoom, and iZettle.

Who Owns Netflix

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Netflix’s largest individual shareholder is Reed Hastings, co-founder, and CEO of the company, with a 1.7% stake, valued at over $1.8 billion in 2022. Netflix runs a subscription-based business model that generated $29.6 billion in revenues, and it had over 221 million global members in 2021. Netflix’s business model runs only premium content on its platform, driven by its Netflix Originals shows. Netflix is also building an ad-supported version.

Who Owns TikTok

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TikTok is owned by ByteDance, a Chinese internet technology company owning several content platforms worldwide (Douyin, Toutiao, Xigua Video, Helo, Lark, Babe). Bytedance passed the $300 billion private market valuation by 2022, making around $58 billion in revenue in 2022, over $4 billion from TikTok.

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