Billionaire Tim Cook exits Apple after 15 years, leaving a $4.5 trillion giant that relied on African minerals but invested little in the continent

Tim Cook has stepped down as Apple CEO after 15 years, handing control of one of the world’s most valuable companies to longtime hardware chief John Ternus and closing an era of extraordinary global expansion that left Africa with a comparatively limited Apple footprint.

American engineer John Ternus, 51, Apple’s former senior vice president of Hardware Engineering, officially took over as CEO on September 1, 2026, following his appointment in April.

Cook, 65, remains executive chairman, while Ternus inherits a vastly larger company than his predecessor took over from Steve Jobs in 2011.

During Cook’s tenure, Apple’s market value rose from about $350 billion to roughly $4.5 trillion, while annual revenue climbed from $108 billion to more than $400 billion.

The tech giant grew to more than 2.5 billion active devices and over 500 stores worldwide, yet Africa still has no company-owned Apple Store.