The Apple nerd community is buzzing about how much the company pays for Tim Cook’s security.
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If you look at it from an investor’s point of view, Tim Cook is undoubtedly an asset worth billions for the company.
Patently Apple spotted the entry listing “security expenses in the amount of $699,133”.
Tim Cook might be a guy who can take care of himself, judging from the impressive amount of time he spends in the gym each day, but Apple’s not taking any chances: The company shells out close to $700,000 each year on security for its CEO. The documents further reveal the safety and security of Tim Cook is of the utmost importance to Apple and the shareholders.
Apple said that, while security details aren’t commonplace to the company’s general employee population, they felt that the protection measures were “a necessary and reasonable expense for the benefit of the Company”.
Apple’s SEC filings also included specific dollar amounts for Cook’s vacation cash-out ($56,923), his 401k ($15,600), and life insurance premiums ($2,520). Under the heading “all other compensation”, the filing breaks down the figure of $774,176 for 2014.
That’s not to say that Cook is top dog when it comes to laying on the security.
Other companies spend more on the security of their CEO’s.
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Amazon paid out $1.6 million that year on security for Jeff Bezos. The average payout for a Fortune 100 executive in 2014 was $28,618. During the same period, when Larry Ellison was still CEO of Oracle, $1.5 million was spent on security for him.
