Reports revealing Apple spends almost $700,000 (about £450,000) a year to protect CEO Tim Cook have surfaced all over the internet.
Patently Apple pulled the figure from Apple’s Schedule 14A report with the US Securities and Exchange Commission.
In the file the expenses of $774,176 were listed under all other compensation.
Tim Cook rarely has much visible security when seen at public events, but bodyguards are doubtless there in the background.
The documents state the details of Apple’s expenditure on five essential tasks. While security expenses were listed as $699,133.
If Apple followed the same approach to security that it has on its products, someone would shoot Cook and security would deny he had been shot for two months. Although the Company does not consider it to be a perquisite for his benefit, the Company provides home and personal security for Mr Cook because his personal safety and security are of the utmost importance to the Company and its shareholders.
While the amount may boggle the mind, this is actually not the highest a company has spent on the security of its CEO. Earlier in the year, the company also entered the wearable space with the Apple Watch, which according Apple is already a billion dollar business. During the same period, when Larry Ellison was still CEO of Oracle, the company spent $1.5 million on security for him.