How much is Tim Cook’s safety worth to Apple?
Not quite a million bucks, according to a recent filing.
Patently Apple unearthed Apple CEO Tim Cook’s security budget, which was buried inside its Schedule 14A report it recently filed with the Security and Exchange Commission.
According to Apple, it spends just shy of $700,000 a year keeping Cook safe.
Here’s the actual text from the filing:
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.
This puts Tim Cook in the upper tier of high-profile CEOs in terms of security spend.
As of 2014, Amazon spent $1.6 million protecting Jeff Bezos. Oracle spent $1.5 million on Larry Ellison’s security.
Third on Fortune‘s list was Disney CEO Bob Iger, who cost his company just shy of $600,000.
There haven’t been any public incidents involving Tim Cook and some rabid Apple fan (or rabid Apple hater). So, I guess it’s working?
Image via Valery Marchive, Flickr Creative Commons