February 17, 2024

Who Owns Apple

Read more about How to Invest in Apple

Apple is owned by a blend of everyday investors and financial giants. Together, their shares add up to a mind-blowing value of $2.9 trillion+.

Much like its iconic products, understanding Apple's ownership structure is like peeling back onion layers. It's complex yet fascinating.

Some of its stakeholders are passionate fans, while seasoned investors are in it to win it.

Read on to learn about the key players of the biggest company in the world.

Who Owns Apple?

Apple Inc. is a publicly traded company, meaning its ownership is spread out among its many shareholders. They range from individual investors to big-time institutional asset managers.

Roughly 60% of its ownership is in the hands of institutional giants.[1] You have a few high-net-worth individuals putting their faith in the company, too.

This means no single person holds a controlling stake in the Apple empire. Even the top-level managers, known as insiders, collectively possess less than 1%.[2]

Apple shares are actively traded on stock exchanges like the Nasdaq. They are identified by the ticker symbol AAPL.

Now, let's introduce you to some prominent names and entities that own a significant piece of Apple.

Note that holdings of individual and institutional shareholders can change anytime due to these factors:
  • Market conditions
  • Investment strategies
  • Economic events
  • Fund flows
  • Company performance

Check out Apple's Investor Relations page to obtain the most up-to-date information on Apple's shareholders.

Who are the major shareholders of Apple?

Here are the top institutional and individual Apple investors:

Vanguard Group Inc. (8.36%)
Vanguard empowers everyday investors with low-cost index mutual funds and exchange-traded funds (ETFs). Globally, they offer 422 funds, trusted by over 50 million investors, and manage an incredible $3.1 trillion in equity assets.[3][4]

Vanguard has the biggest holding in Apple. The investment powerhouse owns 8.36% of it, with almost 1.3 billion shares estimated at $246 billion as of 2023.[1] At the same time, it is the most substantial investment in its portfolio.

Furthermore, Vanguard's status as Apple's largest shareholder grants it sole voting power.[5] This signifies its sizable influence on the company.

What does sole voting power mean?
Sole voting power means that its holder (an entity or individual) can make all voting decisions and cast all votes associated with their shares. This means no consensus, approval, or cooperation is needed from others.

BlackRock Inc. (6.63%)
Where Vanguard Group treads, BlackRock is often not far behind.
As a fiduciary for countless investors, it collaborates with more than 190,000 financial advisors across the nation, proving its strong presence in the financial industry.[6]

Its proprietary investment platform, Aladdin, stands as a bedrock tool for many seasoned investors. This platform equips you to assess and manage risk within your investment portfolios.

Peering into its Apple holdings as of 2023, BlackRock has a 6.63% ownership, with a little over 1 billion Apple shares valued at nearly $195 billion.[1]

Berkshire Hathaway Inc. (5.89%)
Initially Berkshire Fine Spinning Associates, a textile manufacturer, it eventually merged with Hathaway Manufacturing in 1955. This union sealed the company's name.[7]

However, Berkshire Hathaway took a transformative turn when the legendary Warren Buffett converted it into a holding company in 1970.

Aside from Apple, it has controlling interests in Bank of America, American Express, and Coca-Cola.[8][9][10]

Buffett remains Berkshire's chairman and CEO, while his business partner, Charlie Munger, was the vice chairman until his passing on November 28, 2023.[11][12]

Berkshire Hathaway owns 5.89%, or almost 1 billion Apple shares, valued at about $173 billion as of 2023.[1]

Warren Buffett has never sold a share of either Apple or Coca-Cola since he began investing in them. His reason? Both companies made him even more money and continue to do so.

Arthur Levinson (<1%)
Dr. Levinson is Apple's chairman of the Board and part of the People and Compensation Committee. He is also the founder and CEO of Calico, an Alphabet subsidiary.[13]

A good portion of his Apple stock is actually part of what he gets for serving on the Board since 2000.[14]

While Dr. Levinson has made strategic decisions to divest some of his Apple shares over the years, he still has over 4.5 million shares worth approximately $795 million as of 2023.[5]

Other institutional shareholders
Here's the rest of institutional shareholders that hold more than 100 million Apple shares as of November 29, 2023:[1]

  • State Street Corp. (3.66%)
  • FMR LLC (1.92%)
  • Geode Management Capital LLC (1.90%)
  • T. Rowe Price Associates Inc. (1.39%)
  • Morgan Stanley (1.33%)
  • Northern Trust Corp. (1.09%)
  • Norges Bank (1.08%)
  • JP Morgan Chase (<1%)
  • Bank of New York Mellon Corp. (<1%)
  • Legal & General Group PLC (<1%)
  • Bank of America Corp. (<1%)

Former US Vice President Al Gore made bank when he cashed out over 200,000 Apple shares, gaining him almost $30 million in February 2017.[15] He still has around 500,000 shares worth about $88 million left in his portfolio as of 2023 and continues to serve as Apple's Board member.[16][5]

Who is Apple's CEO?

Tim Cook was named Apple's Chief Executive Officer in 2011 following Steve Jobs' departure (who handpicked him) from the company.[17]

His journey with Apple began in March 1998 when he assumed the position of Senior Vice President for Worldwide Operations.[5]

Cook is credited with the growth of Apple's ecosystem. He has created a range of subscription services and hardware, enhancing the iPhone business initiated by Steve Jobs (more on him later).

How much Apple stock does Tim Cook have?
Tim Cook owns 3.28 million Apple shares valued at $580 million as of December 13, 2023.[18] On August 24, 2021, he made a cool $751 million when he sold a nice chunk of his Apple shares.[19] On Oct 1, 2023, he offloaded 511,000 shares worth around $88 million.[20]

Did Steve Jobs own Apple?

Steve Jobs owned one-third of Apple at the time of its incorporation in 1977.[21]

Fast forward two decades and his Apple stake is 1.19%, or more than 10 million shares.[22]

If Steve Jobs had clung to his 11% Apple stock (his reported holding during Apple's initial public offering in 1980), it would have been valued at more than $300 billion in today's market.

Although they were initially equal partners, Steve Wozniak (Apple's co-founder) owned much less of Apple before its IPO, which was 8.7%. Woz, as he's fondly called, is known to give his team members Apple stock of his own.

Does Bill Gates own any shares of Apple?

Bill Gates owns a bit of Apple, albeit indirectly. His private foundation, The Bill and Melinda Gates Foundation Trust, owns 22,529,601 shares of Berkshire Hathaway, or about 1.72% ownership.[23]

At the same time, Berkshire has a stake in Apple (Microsoft's rival) valued at around $173 billion. When you think about it, this intertwined chain of ownership practically gives Bill Gates Apple shares worth nearly $3 billion.

What is the net worth of Apple?

Apple's net worth as of July 2023 is $60.2 billion, with a huge market capitalization of $2.96 trillion.[24] [25]

The company is all about being innovative and creating a vast ecosystem of interconnected products and services.

How do you calculate the net worth of a business?
Also referred to as net assets or shareholder equity, a company's net worth is calculated by subtracting its total liabilities from its total assets. This fundamental metric is a key measure of the business' financial health and ability to meet its money obligations.

Bottom Line

Vanguard and BlackRock lead the pack of Apple's institutional investors, followed by other entities and individuals.

For many, investing in the company has become more than just its stock value. It's also about being part of the innovation and its loyal fan base.

While Steve Jobs played an important role in its early success, Apple kept climbing the victory ladder under Tim Cook's direction.

What factor is most important to you when deciding to invest in a company like Apple?

References

  1. ^ Nasdaq. AAPL Institutional Holdings, Retrieved 11/29/2023
  2. ^ Nasdaq. What Kind of Investors Own Most of Apple Inc. (NASDAQ:AAPL)?, Retrieved: 11/15/2023
  3. ^ Vanguard. Investment Stewardship, Retrieved 11/15/2023
  4. ^ Vanguard. Facts and Figures, Retrieved 12/13/2023
  5. ^ SEC. SCHEDULE 14A, Retrieved 11/15/2023
  6. ^ BlackRock. About BlackRock in the U.S.", Retrieved 11/15/2023
  7. ^ Berkshire Hathaway. Berkshire - Past, Present and Future, Retrieved 11/15/2023
  8. ^ Nasdaq. BAC Institutional Holdings, Retrieved 12/13/2023
  9. ^ Nasdaq. AXP Institutional Holdings, Retrieved 12/13/2023
  10. ^ Nasdaq. KO Institutional Holdings, Retrieved 11/15/2023
  11. ^ SEC. Executive Officers & Directors-Berkshire Entities, Retrieved 11/15/2023
  12. ^ Berkshire Hathaway. Executive Officers & Directors-Berkshire Entities, Retrieved 11/29/2023
  13. ^ Calico. Our people, Retrieved 11/15/2023
  14. ^ Apple. Apple Names Arthur D. Levinson Chairman of the Board, Retrieved 12/13/2023
  15. ^ SEC. Statement of Changes in Beneficial Ownership, Retrieved 11/15/2023
  16. ^ Apple. Leadership and Governance, Retrieved 11/15/2023
  17. ^ Apple. Letter from Steve Jobs, Retrieved 11/15/2023
  18. ^ Nasdaq. Insider Trades of Cook Timothy D, Retrieved 12/13/2023
  19. ^ SEC. Statement of Changes in Beneficial Ownership, Retrieved 11/15/2023
  20. ^ SEC. Statement of Changes in Beneficial Ownership, Retrieved 11/15/2023
  21. ^ Steve Jobs Archive. Make Something Wonderful, Retrieved 11/15/2023
  22. ^ SEC. Definitive Proxy Statement, Retrieved 11/15/2023
  23. ^ Nasdaq. BRK/B Institutional Holdings, Retrieved 12/13/2023
  24. ^ SEC. FORM 10-Q, Retrieved 11/15/2023
  25. ^ Nasdaq. Apple Inc. Common Stock (AAPL), Retrieved 11/29/2023

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