Apple CEO Tim Cook's earnings up 74% to $102m

Tim Cook

Cook was paid $3.06 million (roughly Rs. 19.6 crores) in salary, as well as what the report notes as a previously disclosed equity award of $89.2 million (roughly Rs. 572 crores), which brings his total annual payout to $102 million (roughly Rs. 654 crores).

Cook's personal travel cost came to $93,109 in fiscal 2017, according to the filing. Due to slumping iPhone sales in 2016, Cook's pay was cut 15%.

A filing with securities regulators this week said the board determined that its CEO must use private aircraft for "all business and personal travel".

Apple shelled out $224,216 in incremental private security costs for Cook, including the hiring of personnel for his benefit, the proxy statement said.

Recently, Cook's salary and perks jumped 47 per cent to around $13 million in 2017, reported IANS.

Kedar Jadhav, Shardul Thakur named in ODI squad for South Africa tour
After the Test series, starting on January 5, India will play six ODIs from February 1 and three Twenty20 Internationals. The squad sees the return of captain Virat Kohli , who was rested for limited-overs fixtures against Sri Lanka.

The market capitalization for the iPhone maker has been hovering around $900 billion and is up almost 50 percent for the year.

The private aircraft privilege may extend to other Apple executives but only for when the aircraft will "facilitate travel that is directly and integrally related to the performance of their job duties and when the use of private aircraft will increase efficiency or security associated with a particular trip".

Camera IconApple CEO Tim Cook tests out a new iPhone X during a media event at Apple's new headquarters in Cupertino, California.

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. "However, this is down from 86 per cent share in the same quarter past year when Samsung had to gulp up a loss due to the Galaxy Note 7 debacle", said Research Director Neil Shah. The gross income of Apple is $151 more than that of Samsung, who is second on the list. In all, Cook in 2017 made at Apple $12,825,065, which included a contribution of $16,200 to Cooks retirement account by the company.

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