Apple CEO Tim Cook's Annual Pay Jumps 47 Percent to $12.8 Million

Apple CEO Tim Cook's Annual Pay Jumps 47 Percent to $12.8 Million

Apple CEO Tim Cook will now have his own private aircraft for personal travel for "security and safety reasons", a regulatory filing with Securities and Exchange Commission (SEC) has revealed.

In addition to his $9.33 ($A11.9 million) million bonus, Cook receives a $US3.06 million ($A3.8 million) salary and $89.2 million in Apple stock, for a total of $US102 million ($A130 million) this year alone. Apple notes that Cook added $93,109 in personal travel costs for the company, "based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees". That's because Apple had fallen short of its financial goals, amid slumping iPhone sales and a downturn in the Cupertino-based company's Chinese business operations.

Cook's total compensation was $12.8 million in 2017, up almost 50% from the previous year, according to the filing.

The Apple CEO now has to fly private, even for personal travel on orders of Apple's board of director.

Apple CEO Tim Cook chats with attendees of the iPhone X event.

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Mr Cook became Apple's chief executive after Steve Jobs resigned in 2011 and shares in the company have more than tripled under his watch.

As the head of the world's most valuable company, Mr Cook is also now forced to use private planes to travel for both business and personal purposes.

Apple's stock (NASDAQ:AAPL) has been on the climb since the beginning of 2017, which is in line with the NASDAQ composite, the index of the market for which Apple is traded, for the year. The gross income of Apple is $151 more than that of Samsung, who is second on the list. Year-on-year sales growth was witnessed in all product categories in the fiscal fourth-quarter ended September 30, while revenue surged 12% to $52.6 billion.

Shares of companies that supply parts to Apple, including Broadcom, Skyworks Solutions, Finisar and Lumentum Holdings, also took a hit as they fell between 1.8 per cent and 3.5 per cent.

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