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Apple CEO Tim Cook's massive salary and perk revealed

Apple CEO Tim Cook's massive salary and perk revealed

Apple CEO Tim Cook's compensation for the latest fiscal year rose 47 percent to $12.8 million from $8.7 million in the previous year. According to a report by Mac Rumors, Tim Cook apparently received a salary of $3.06 million this year. Mr. Cook's pay increase was driven by his cash bonus, which was hinged on exceeding. The flight policy went into effect in 2017 "in the interests of security and efficiency" based on Cook's "highly visible" role as CEO. Iger's personal air travel expenses totaled $282,831 in fiscal 2016, while the Facebook chief executive racked up about $871,390 in costs related to personal usage of private planes a year ago.

Cook also benefited from a generous share award, banking $89.2 million Dollars worth of Apple stock as part of a compensation package agreed when he was appointed chief executive in 2011. Tim Cook will get paid $12.8 million which is 46% more compared to that of the a year ago. Disney (DIS) CEO Bob Iger and Facebook (FB) CEO Mark Zuckerberg are also mandated to use private aircraft when traveling, according to the companies' respective regulatory filings.

The market capitalization for the iPhone maker has been hovering around $900 billion and is up almost 50 percent for the year.

During 2017 Tim Cook's personal security costs were calculated at nearly half a million dollars, ($224,216.00), alongside a $93,109 bill for traveling on private jets for non-business trips.

As if that weren't enough, at the behest of Apple's Board of Directors, Cook was also required to fly around for official business exclusively on a private jet this year, and will continue to moving forward, the report added.

CEO Tim Cook will no longer be flying on commercial aircraft. That success led, in large part, to a 36.7 per cent increase in Apple stock prices year-over-year. The gross income of Apple is $151 more than that of Samsung, who is second on the list.

Apple is now soaring high, as it has been for the last couple of years. That amount also includes Apple stock that vest only if they stay with the company.


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