Apple CEO Tim Cook's massive salary and perk revealed

Posted December 29, 2017

For Apple CEO Tim Cook, fiscal year 2017 brought good tidings in the form of a hefty 47 percent pay increase and use of a private aircraft.

As an additional security measure for Mr. Cook, the Board also requires that he use private aircraft for all business and personal travel.

Over the path of 2017, expenses on personal air travel of Cook amounted to nearly $93,109 and Apple spent an extra $24,216 in the personal security costs that was provided for Cook. Apart from the salary, he received United States dollars 89.2 million in equity award.

Yet Cook's previous stock awards vested in 2017 were worth an additional $89 million for the CEO, according to the filing with the Securities and Exchange Commission. "Apple exited the quarter with some iPhone 8 inventory due to softer than expected demand compared to the iPhone 7 series", Counterpoint said.

Apple has had a big year in 2017, releasing a new Apple Watch, the iPhone 8 and 8 Plus and a special iPhone X, which marks the iPhone's 10th anniversary.

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Cook is getting the mandatory perk that cost the company $US93,109 ($A119,459) this year for personal trips alone, The New York Post reports.

Cook and other Apple board directors, such as Disney CEO Bob Iger, former U.S. Vice President Al Gore and former Northrop Grumman CEO Ron Sugar, are up for election to remain on the board another year.

It comes as Cook's yearly bonus was increased by 74 per cent as Apple reported higher revenue and profits. Cook ended up spending around $93,109 on personal air travel this year.

Further, the proxy statement says that Cook will have to pay taxes anytime he uses an Apple private jet for personal travel as the cost will come under extra compensation.

Cook's predecessor, the founder of Apple Steve Jobs had his own private jet that was gifted to him during 2000 by Apple. Angela Ahrendts, the former CEO of Burberry and now head of Apple's retail operations, topped the list with $24.2 million in total compensation.