Apple spends nearly $700,000 a year to keep CEO Tim Cook safe, according to the company's U.S. Securities and Exchange Commission filings. Apple cult blog Patently Apple pulled the information from the company's 14A report of its SEC filing. (Tweet This)
The report reads, "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."
The bulk of those costs likely go to protecting Cook's modest home in Palo Alto, California, Patently Apple reported.
Compared with other companies, Apple's expenditure on Cook's protection is relatively low. Amazon apparently spent $1.6 million in 2013 on security for founder and CEO Jeff Bezos, Fortune Magazine reported. And Oracle reportedly spent $1.5 million on security for Larry Ellison, then-CEO.
The initial blog by Patently Apple can be found here.