Apple Spends $700,000 a year to keep Tim Cook Safe

As the CEO of the world’s most profitable technology, Tim Cook is a very important man, and important men need serious security. Tim Cook requires so much security that Apple is willing to pay out somewhere in the amount of $700,000 on his personal security each year.

THIS WAS REPORTED IN THE APPLE SCHEDULE 14A REPORT

This large figure was spotted in Apple’s Schedule 14A report with the United States Securities and Exchange Commission by Patently Apple. In the full section in question, this was under a title heading called “All Other Compensation”. This read that this amount represents Apple’s contributions to Tim Cook’s 401(k) plan in the amount of $15,6000, life insurance premiums paid by the company in the amount of $2,520, vacation time in the amount of $56,923 and lastly security expenses in the amount of $699,133. Apple has clarified its expenses on Tim Cook’s security later on in the report, explaining that it doesn’t generally provide “prerequisites to its officers that aren’t available to employees”. Apple apparently provides both home and personal security for Cook, because his security and personal safety are of the “utmost importance to the company and its shareholders”.

LOTS OF TECH COMPANIES SPEND LARGE AMOUNTS FOR CEO SAFETY

Apparently, these kinds of figures for safety and security aren’t all that ludicrous. Amazon spent around $1.6 million to protect Jeff Bezos in 2013. Larry Ellison, the former CEO of Oracle, had a security and safety fund that cost about $1.5 million annually. Many analysts put the upper end of the bodyguard pay scale to be around $120,000 per year. If it is at that price, then Apple is putting out enough money to keep no less than five personal security officers by Tim Cook’s side at all times. Realistically, all of this money isn’t going towards strictly to body guards. Oftentimes, large companies spend money on surveillance cameras and home security systems for their executives as well as body guards.

THIS IS A SMALL AMOUNT IN COMPARISON TO APPLE’S OVERALL PROFITS

Yet, in the grand scheme of things this $700,000 is a small amount of Apple’s earnings for a year. They are currently on their way to reporting a $53 billion profit this fiscal year.