Apple CEO Tim Cook Donates $5 Million in Company Stock To Charity

Last Updated:

An unidentified charity has benefit from Tim Cook’s unique approach to philanthropy, according to a recent filing with the U.S. Securities and Exchange Commission. The Apple CEO donated a reported 23,215 shares of the company stock to charity, and at the stock’s closing price on that day, the donation was worth a total value of $4,992,153.

Cook is however, still in control of 878,425 shares of Apple stock as well as unvested shares. In total, it is worth about $189 million.

There’s no information about the charity that Cook donated the shares to, but he has made donations to several charities in the past. Some of the organizations that have benefited from his wealth are Robert F. Kennedy Center for Justice & Human Rights and the Human Rights Campaign.

 

Tim Cook’s Charitable Plans

Tim Cook has publicly stated in the past that he plans to eventually pledge his entire fortune to charity, with his nephew’s college education the only reason for the delay in execution of the plan.

Despite the increased push by Cook and Apple towards charity, the company has no official charitable foundation unlike other companies of similar size.

 

In a 2017 interview with Fortune, Cook explained the reason behind this:

“I looked at it in early 2012. And I decided not to do it. And here’s why. When a company sets up a foundation, there is a risk, in my judgment, of the foundation becoming this other thing that is not connected to the company. It has a separate board of directors.

They make reasonably independent decisions sometimes. It becomes a separate thing. I don’t want that for Apple. I want everybody involved. Because I think that the power that we bring, the things that we can do is because we’re stronger — it’s with our unity there. It’s when we put all of ourselves in it …

If we had a foundation, my fear was it becomes something that 10 or 12 or 20 or 50 people do. And all of a sudden for the 120,000, it’s just this separate thing out there. People work here to change the world. So I think that should be integral to what the company does. Not peripheral in a foundation.”

 

The filing does not state exactly when the charitable transaction was made, it only reported that such a donation was made. This is also not the first time Cook will be making such donations. In 2015, he made a similar company stock donation to an undisclosed charity.

Tim Cook is definitely an example for all CEOs and tech leaders and has set an example for us all to follow even if we are not as wealthy as he is.

Megan Turnbull
Megan Turnbull
Megan Turnbull is a political entrepreneur, commentator, and writer. She uses her wealth of experience to provide audiences with vantage views of both the political and non-political world, dishing out shrewd, tried and true information and guidance for a better business and a better world.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Monica Seles Net Worth

Monica Seles is a retired former world No. 1 tennis player who earned her fortune by winning nine Grand Slam titles.

Jrue Holiday Net Worth

What is Jrue Holiday's net worth? Introduction  Jrue Holiday is an...

Lydia Hearst-Shaw Net Worth

What is Lydia Hearst-Shaw's net worth? Introduction  As of ,...

Katie Holmes Net Worth

What is Katie Holmes' net worth? Introduction  As of ,...

Shyne Net Worth

What is Shyne's net worth?  Introduction    Shyne is a Belizean...

Quinton Rampage Jackson Net...

What is Quinton Rampage Jackson's net worth? Introduction As of ...

Latest Net Worth Profiles

John Landis Net Worth

John Landis made millions as a director and actor in Hollywood, eventually becoming one of the wealthiest icons in the film world.

Ralf Schumacher Net Worth

German racing driver Ralf Schumacher has earned millions as a Grand Prix champion in Formula One.

Petra Kvitova Net Worth

Czech professional tennis player Petra Kvitova has earned a substantial net worth as one of the world's greatest players to ever compete on the court.

Peter Jackson Net Worth

Best known for directing Lord of the Rings, Peter Jackson is one of the wealthiest and most well-known filmmakers in Hollywood.

Peter Forsberg Net Worth

Former professional hockey player Peter Forsberg earned millions in the NHL as one of the greatest players of all time.

Pete Sampras Net Worth

As a longtime rival of Andre Agassi, Pete Sampras has earned a substantial net worth as one of the world's best former tennis players.

Steve Nash Net Worth

Steve Nash is a former National Basketball Association player, and current coach, who is considered one of the greatest point guards of all time.

Pete Dye Net Worth

Golf course designer Pete Dye was renowned for his architectural skills, and he earned millions by creating some of the best golf courses in the world.

Stefan Edberg Net Worth

Former professional tennis player Stefan Edberg has earned a remarkable fortune as a six-time Grand Slam champion.

Paul Thomas Anderson Net...

American filmmaker Paul Thomas Anderson has earned a substantial net worth for directing hits like Boogie Nights and Magnolia.