Apple Inc. (NASDAQ: AAPL) spends at about $700,000 on the security of the CEO Tim Cook. According to the latest revelations from Schedule 14A report submitted to the United States Securities and Exchange Comission. The submission stated that the company’s contribution to the Tim Cook’s under 401(k) is $15,600. The company paid lifetime insurance of $2,520, for the vacations it is $56,923 and the security expenses for the CEO is $699,133, which is just under the bar of $700,000.
Spending $700K is certainly a big amount, however, Tim Cook isn’t an ordinary person as well. As per the publicity he has received and brand value of the company, spending this much could be compared to spending few pennies on the security of the head of the enterprise.
It is without a doubt that, after Steve Jobs, Tim Cook has certainly gained a lot more popularity than anyone else in the company, except Sir Johnathon Ive and so does require a top class security. No only this protects the CEO from any life threats, but also the accidents that might happen while he is among the Apple Inc fans.
There have been no reports of the Sir Johnathon Ive getting such spendings on the security, as he is least seen outside the Cupertino HQ located at 1 Infinite Loop. The report suggests that there is a vault where Johnny and his team members are always working on new designs and technologies. Breaking into that vault and harming the employees is tougher than breaking the diamond itself.
However, let me remind you a little parody song that came out when Craig Federighi introduced the top industry security personnel as an Apple security officer — “Intergalactic Chancellor, Chairman Honey Crisp.”
Apart from that, Apple Inc is certainly the one with strongest stock market capital. AAPL is standing strong with a capital of 658.8 Bn. Currently, Apple Inc shares are trading at a price of 115.52 per piece. The market for the company has fallen since last year. It was the time when Apple Inc was close to achieving 800 Bn capital, and now it is standing at 650Bn. However, with the release of the iPhone 6S, Cupertino giant is going to make huge profits and analysts are expecting the sale of 80 million to 90 million iPhone 6S this year.
Why can’t September come quickly enough. Oh boy!