Tim Cook got a hefty raise this year

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San Francisco: Apple CEO Tim Cook, who saw his salary and perks jump 47 per cent to nearly $13 million in 2017, will now fly on private aircraft even for personal travel for "security and safety reasons". It's a healthy jump from the $8.5 million he banked in 2016 when Apple's revenue dipped slightly.

Cook and other Apple board directors, such as Disney CEO Bob Iger, former U.S. Vice President Al Gore and former Northrop Grumman CEO Ron Sugar, are up for election to remain on the board another year. The pay increase came from a larger bonus because Apple beat its goals for annual sales and operating profit. Apple's retail chief, Angela Ahrendts, was the highest paid executive, bringing in $24,216,072.

Camera IconApple CEO Tim Cook tests out a new iPhone X during a media event at Apple's new headquarters in Cupertino, California. Furthermore, he already holds a stock which is worth $89.2 million.

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Each of the top officers, not including Cook, receive a base salary of $1 million, cash incentives and were awarded $20 million in stock with the tech giant.

Apple said transporting the chief executive around the world in 2017 cost more than $93,000 (£69,000) and his personal security costs ran to more than $220,000 (£163,000).

On Wednesday, Apple, in the shareholder proxy statement, said, "This policy was implemented in 2017 in the interests of security and efficiency based on our global profile and the highly visible nature of Cook's role as CEO".

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Since Cook took over from Steve Jobs in 2011, the company's share price has risen more than 200 per cent and has accumulated a war chest of over $US250 billion ($A320 billion) in cash, The New York Post also reports. Cook isn't the first Apple CEO to use a private jet for air travel.

This post has been updated with a clarification.

Cook has little to say about the situation if the board tells him he must use the private jet. The glass-sided store sits on shore of the Chicago River in the city's downtown.

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