Apple pays nearly $700,000 a year just to keep CEO Tim Cook free from harm.
The “security expense,” discovered by Patently Apple, were included in Apple’s “Schedule 14A” report with the U.S. Securities and Exchange Commission.
“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.”
While it is unknown what Cook’s “security” exactly entails, it could mean armored cars, bodyguards, Apple henchman or even ninjas trained in the art of invisibility (we can only hope).
Whatever the case, in comparison to other companies, Apple doesn’t spend that much to keep their CEO safe. According to Fortune, in 2013, Amazon spent $1.6 million on security for CEO Jeff Bezos. When billionaire Larry Ellison was still the CEO of Oracle, his company spent $1.5 million on security. Many of the world’s leading executives receive security details that cost anywhere between five and six-digits a year.
It’s still not as cool as Jack Ma’s security though — he hired a Tai Chi master for protection.