Apple CEO Tim Cook Nets A Cool $102 Million In 2017, Now Has To Fly Private Secure Charter

Apple CEO Tim Cook had a bang up year when it comes to paychecks. Cook received a 74% increase in his annual bonus for fiscal 2017 after the company posted higher revenue and net income compared to the previous fiscal year. The incentive pay that Tim Cook earned for fiscal 2017 totaled $9.33 million for the year that ended on September 30.

tim cook

Cook also banked $3.06 million in salary and was granted $89.2 million in equity during the year, bringing his total payout for fiscal 2017 to $102 million. The equity was previously disclosed, but the salary and incentive pay was disclosed in a regulatory filing made Wednesday.

It pays very well to be a top executive at Apple; Cook's top five underlings each took home about $24.2 million total for the fiscal year with bonuses of about $3.11 million each. This amount included money and equity compensation. The highest paid of these executives is reportedly Angela Ahrendts, the retail chief for the company, who raked in $24,216,072 for the year. Cook earns so much money and is so integral to Apple that its board recently mandated that Cook only fly private for business and personal travel.

Cook spent $93,109 traveling using private aircraft for non-business-related trips. Apple's board cites security reasons and the CEO's high profile as the reason for mandated private air travel. Cook also reportedly required about $224,216 in private security services that Apple paid for.


Via:  Bloomberg
Show comments blog comments powered by Disqus