Buried in Apple’s “Schedule 14A” report with U.S. Securities and Exchange Commission is the fact that Apple spends close to $700,000 per annum to protect Apple’s CEO Tim Cook. Patently Apple spotted the following paragraph in the report:
“This amount represents: (i) the Company’s contributions to Mr. Cook’s account under its 401(k) plan in the amount of $15,600; (ii) Company-paid term life insurance premiums in the amount of $2,520; (iii) vacation cash-out in the amount of $56,923; and (iv) security expenses in the amount of $699,133.”
Business Insider notes that $700k is actually low compared to other CEOs. For example, a 2014 Equilar report found that Amazon spent $1.6 million keeping CEO Jeff Bezos safe and Oracle spent $1.5 million on Larry Ellison’s security.
So what do you think ?
[Source]
