Apple’s Tim Cook sees 74pc pay increase, earning total of $102m

Apple CEO, Tim Cook, attends the 2015 Ripple Of Hope Awards at the Hilton Hotel on December 8, 2015

Apple’s (NASDAQ: AAPL) chief executive saw this year’s earnings increase by 74 percent following a huge bonus linked to the firm’s stock market performance.

Tim Cook received a basic salary of $3.06 million, a cash bonus of $9.3 million and a bonus from collected share awards worth $89 million.

The amount shared in Apple’s regulatory filing also disclosed that the chief executive that Cook is now only to travel by private aircraft “for all business and personal travel” for security reasons.

Apple said that the cost of Cook’s travel is $93,109 “based on hourly flight charges and other variable costs incurred by Apple for such use, including variable fuel charges, departure fees, and landing fees.”

Apple is currently facing a potential lawsuit after the firm admitted to limiting the processing power of iPhone models 6, 6S and 7 with a software update, to protect internal phone components and battery ageing.

A spokesperson said: “Lithium-ion batteries become less capable of supplying peak current demands when in cold conditions, [when they] have a low battery charge or as they age over time, which can result in the device unexpectedly shutting down to protect its electronic components,”

“Last year, we released a feature for iPhone 6, iPhone 6s and iPhone SE to smooth out the instantaneous peaks only when needed to prevent the device from unexpectedly shutting down during these conditions.

“We’ve now extended that feature to iPhone 7 with iOS 11.2, and plan to add support for other products in the future. Our goal is to deliver the best experience for customers.”

Shares in the tech giant have increased by over 200 percent since Cook became chief executive in August 2011. Shares peaked at $176.4 on 18 December but have since fallen slightly to $170.60.