In September 2026, Apple will welcome its second chief executive since founder Steve Jobs passed away in 2011. John Ternus, who has worked at Apple for more than two decades, will replace Tim Cook as CEO in the third quarter.
Here’s how much Ternus is likely to make as CEO and what his net worth is in 2026.
What is John Ternus’s net worth in 2026?
Ternus has a net worth of around $75 million to $100 million, according to MSN. Most other sources list the $75 million figure.
Related: Tim Cook’s net worth: The Apple CEO’s wealth as he announces retirement
How does John Ternus make his money?
Terum makes his money primarily as an executive at Apple. As CEO, Ternus will likely receive a pay increase and could earn significantly more in cash and stock awards for meeting Apple’s internal performance-based targets. Senior vice presidents, who typically report directly to the CEO, make a base salary of about $1 million a year.
Cook, as CEO, had an annual paycheck of $3 million in 2025, but his total compensation (including bonuses and stock awards) was much higher at $74.3 million.
In its 2025 proxy statement, Apple provided details of compensation for its executive officers. Since 2014, the tech giant has set an annual base salary of $1 million, a target cash incentive plan opportunity of 200% of base salary, and a target equity award of $20 million.
When will John Ternus take over as CEO from Tim Cook?
Ternus will become Apple’s CEO and a member of the board of directors on September 1, 2026. Also on that transition date, Cook will, in turn, become executive chair of Apple’s board — a seat currently filled by Dr. Arthur D. Levinson, who will remain on the board but transition to the role of Lead Independent Director.
Why was John Ternus selected as Apple’s new CEO?
Ternus has been instrumental in the development of key Apple products, including the iPhone — which accounts for about half of Apple’s revenue — as well as the iPad, AirPods, and the more recently introduced MacBook Neo, its cheapest laptop. His selection was unanimously approved by Apple’s 10-member board of directors.
Apple said that Ternus was a driving force behind the company’s innovation in materials and hardware design that has reduced the carbon footprint of its products, including the creation of a new, recycled aluminum compound that has been introduced across multiple product lines, the use of 3-D printed titanium in the Apple Watch Ultra 3, and innovations in repairability that have increased the lifespans of several Apple products.
Still, Ternus will be taking over Apple at a time when the company has lagged behind other tech giants in the development and use of artificial intelligence.
“John Ternus has the mind of an engineer, the soul of an innovator, and the heart to lead with integrity and with honor,” Cook said in a statement. “He is a visionary whose contributions to Apple over 25 years are already too numerous to count, and he is without question the right person to lead Apple into the future.”
Plus, Ternus’s age provides him time to shape Apple’s future. When he takes over as CEO at 51 years old, Ternus will likely have a long runway to lead Apple as CEO. By comparison, Cook took over as CEO in 2011 at 50, following Jobs’ death, and will step down from the position at 65.
Still, expectations for Ternus as CEO might be high. During Cook’s tenure, Apple’s market capitalization jumped from $350 billion to over $4 trillion, and annual revenue almost quadrupled to more than $400 billion.
More on Apple:
- Where is Apple’s headquarters? A spaceship-like office with thousands of trees
- How many employees does Apple have? A deeper look at the tech giant’s workforce
- Steve Jobs’ net worth: How rich Apple’s founder could have been
Who is John Ternus?
Ternus received a bachelor’s degree in mechanical engineering from the University of Pennsylvania in 1997. After graduation, he joined Virtual Research as a mechanical engineer on virtual reality headsets.
In 2001, he joined Apple on the product design team, working on the hardware and software aspects of the company’s products.
In 2013, he became a vice president of hardware engineering, and in 2021, he was promoted to senior vice president overseeing hardware engineering. He leads all hardware engineering personnel, including the teams behind iPhone, iPad, Mac, and AirPods, according to his Apple bio.
In his more than 20-year career at Apple, Ternus oversaw hardware engineering work on every generation and model of iPad, the latest iPhone lineup, and AirPods. He has been a key leader in Apple’s transition from Intel processors to its own proprietary silicon in Mac computers.
