Apple execs, officers donate over $3 million to charity for the holidays

Posted:
in General Discussion edited January 2014
A handful of Apple executives and officers recently combined to donate more than $3 million worth of company shares to charitable causes.



According regulatory filings with the Securities and Exchange Commission (1, 2, 3, 4), two members of Apple's executive team, as well as two of its directors, teamed up to donate nearly 10,000 shares of Apple stock between December 10th and 17th. At their current valuation, those shares are valued at roughly $3.2 million.



The most generous was Apple board member and J. Crew chief executive Millard Drexler, who gave away 6,800 shares on December 14th worth $2.17 million. Apple's Senior Vice President of Mac Hardware Engineering Bob Mansfield had four days earlier gifted 1,562 of his shares, worth just over half a million.



Also making donations were Apple chief financial officer Peter Oppenheimer and Apple board member Arthur D. Levinson, who on December 17th gave 1,320 and 277 of their shares, worth approximately $423,000 and $89,000, respectively.



None of the filings specify the recipient of the gifts, stating only that the transactions "represent a charitable donation."
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Comments

  • Reply 1 of 21
    iliveriliver Posts: 299member
    How nice and newsworthy.
  • Reply 2 of 21
    Quote:
    Originally Posted by AppleInsider View Post


    The most generous was Apple board member and J. Crew chief executive Millard Drexler, who gave away 6,800 shares on December 14th worth $2.17 billion.



    Well, that would really be most generous. But you probably meant million, not billion
  • Reply 3 of 21
    MacProMacPro Posts: 19,251member
    Quote:
    Originally Posted by bobrik View Post


    Well, that would really be most generous. But you probably meant million, not billion



    With Apple what is a few factors of 10 these days eh?
  • Reply 4 of 21
    Gifted to there partners! And then cashed in to save tax!
  • Reply 5 of 21
    Quote:
    Originally Posted by AppleInsider View Post


    A handful of Apple executives and officers recently combined to donate more than $3 million worth of company shares to charitable causes.



    Good thing Apple* isn't run by any of the well known Democratic Political leaders in Washington today, otherwise this article's headline would need to be rewritten to "Apple executives and officers recently combined to donate more than $3 thousand to charitable causes."



    Vice President Joe Biden



    Former Democratic Presidential Candidate John Kerry



    *the exception - Apple BOD, Former Vice President and Global Warming Loon Al Gore



    Former House Majority Speaker Nancy Pelosi



    POS Senate Majority Leader Harry Reid shamelessly trying to take credit for money raised for a charity when a letter he and other Senatorial Democratic government representatives signed to try and pressure a private company into "firing" one of their employees was auctioned off and then Reid turns around and horn in on and take credit of the charitable money that was raised as if this was his plan all along. And I believe he still monetarily did not contribute at all to the 4.2 million raised... Guess his "letter" was enough! And those moron voters in Nevada vote this pure ass back into office?!!



    The guy in the White House, Barack Obama



    Most of those same democratic schmucks are still in some form of governmental power.



    There may be some cheapskate Republicans and Independents but they don't go around campaigning against the evil rich, un-American Wall Street types and propagate a "Spread the Wealth" mentality as todays Democratic politicians seem to spout. However, don't get me wrong... Those people listed above are very charitable at wealth redistribution... as long as it's with other people's money!







  • Reply 6 of 21
    dgnr8dgnr8 Posts: 196member
    Quote:
    Originally Posted by Rot'nApple View Post


    Good thing Apple* isn't run by any of the well known Democratic Political leaders in Washington today, otherwise this article's headline would need to be rewritten to "Apple executives and officers recently combined to donate more than $3 thousand to charitable causes."



    Vice President Joe Biden



    Former Democratic Presidential Candidate John Kerry



    *the exception - Apple BOD, Former Vice President and Global Warming Loon Al Gore



    Former House Majority Speaker Nancy Pelosi



    POS Senate Majority Leader Harry Reid shamelessly trying to take credit for money raised for a charity when a letter he and other Senatorial Democratic government representatives signed to try and pressure a private company into "firing" one of their employees was auctioned off and then Reid turns around and horn in on and take credit of the charitable money that was raised as if this was his plan all along. And I believe he still monetarily did not contribute at all to the 4.2 million raised... Guess his "letter" was enough! And those moron voters in Nevada vote this pure ass back into office?!!



    The guy in the White House, Barack Obama



    Most of those same democratic schmucks are still in some form of governmental power.



    There may be some cheapskate Republicans and Independents but they don't go around campaigning against the evil rich, un-American Wall Street types and propagate a "Spread the Wealth" mentality as todays Democratic politicians seem to spout. However, don't get me wrong... Those people listed above are very charitable at wealth redistribution... as long as it's with other people's money!











    Amen Brother Amen
  • Reply 7 of 21
    Quote:
    Originally Posted by Rot'nApple View Post


    Good thing Apple* isn't run by any of the well known Democratic Political leaders in Washington today, otherwise this article's headline would need to be rewritten to "Apple executives and officers recently combined to donate more than $3 thousand to charitable causes."



    (post truncated)



    Would you please refrain from dragging politics into this discussion?



    Thank you.
  • Reply 8 of 21
    solipsismsolipsism Posts: 25,726member
    It always strikes me as odd how anything that is remotely charitable is spun into some evil scheme and inevitably ends up bringing politics into the discussion though usually not this fast.
  • Reply 9 of 21
    Rot'n Apple . . . really . . . really . . . I'm not thinking people come to this site to listen to political rants from any biased point of view. I'm sure there are examples of people of all political affiliations that can be chastised, but I don't come here to read about it. Keep this kind of commentary out of here!
  • Reply 10 of 21
    Quote:
    Originally Posted by cvaldes1831 View Post


    Would you please refrain from dragging politics into this discussion?



    This and countless other discussions. AI has the AppleOutsider sub-forum for this kind of stuff. The mods should warn him and then ban him if he cannot stay on topic.
  • Reply 11 of 21
    i have political views of all strains, but i don't come to this site to listen to bile spewing posts, regardless of their leaning. Can't we have moderation? the integrity of a site bears a distinct relationship with it's purpose and the content relating to that purpose. i have never come to this site for political rants and appeal to the mods to maintain the integrity of the site. it's worth saving.
  • Reply 12 of 21
    tbelltbell Posts: 3,146member
    You do understand that the United States has always had a tiered tax system and it was the ultra rich people that implemented it?



    Further, you do understand that it was the Republicans that passed a temporary tax break, and the Democrats were merely arguing to let that tax break passed by the Republicans expire?



    I hope you further understand that taxes are the price you pay for a civilized society. The more you make, the more you pay on the higher dollars because you have benefited more from the system then other folks.





    Quote:
    Originally Posted by Rot'nApple View Post


    There may be some cheapskate Republicans and Independents but they don't go around campaigning against the evil rich, un-American Wall Street types and propagate a "Spread the Wealth" mentality as todays Democratic politicians seem to spout. However, don't get me wrong... Those people listed above are very charitable at wealth redistribution... as long as it's with other people's money!











  • Reply 13 of 21
    Quote:
    Originally Posted by solipsism View Post


    It always strikes me as odd how anything that is remotely charitable is spun into some evil scheme and inevitably ends up bringing politics into the discussion though usually not this fast.



    I totally concur.



    Unfortunately all too many people these days just can't accept that a lot of people do generous things out of entirely the correct motives.



    Well done to these Apple board members and execs for trying to make other peoples lives better. If everyone were to try and make other peoples lives better, the world would be a nicer place.
  • Reply 14 of 21
    so if apple posts 14 billion in profits this year, 3 million is the equivalent of 2 cents for every hundred dollars the company made, or 0.02% of their profit.



    3 million is a huge donation, until it's put into perspective. :/



    lastly, i know someone [insanely rich] who has a 120 acre estate in new york, who put 90 acres into a land trust [it's now technically owned by the state of new york] so he doesn't have to pay property taxes on it. technically, any us citizen can go enjoy this land, EXCEPT that there's no public access to it - you would have to trespass to get to it.



    furthermore, he "donated" a huge sum of money to build a lakeside estate on that land for a charity that he set up. AGAIN, ANYONE can stay at this estate, provided they can get to the land without trespassing - only possible via helicopter or skydiving. he doesn't pay property taxes on the estate, and every dollar spent on upkeep is a tax-deductible donation.
  • Reply 15 of 21
    It always scares me when large sums of money are donated to charities without disclosure. Usually that means the charity is something that is political and could have financial benefits to the corporation down the road while hurting others. Not all charities are wonderful organizations. Many pursue agendas that sound beneficial, but end up hurting other parties or groups.



    With the government debt what it is... and the talk about rich getting tax breaks (which is a great political rant, which really isn't true) why don't all these rich executives that want to donate money just pay off the national debt? That would be the greatest donation of all. A $40,000 dollar gift to every child that is currently born into the current tax debt.
  • Reply 16 of 21
    Quote:
    Originally Posted by desarc View Post


    so if apple posts 14 billion in profits this year, 3 million is the equivalent of 2 cents for every hundred dollars the company made, or 0.02% of their profit.



    3 million is a huge donation, until it's put into perspective. :/




    Apple donated this money??!! I think you have to re-read the article... anything more that I say at this point probably won't do any good...
  • Reply 17 of 21
    Wow. I didn't know glenn beck was posting his crazy rants on this forum... Yippee
  • Reply 18 of 21
    esummersesummers Posts: 953member
    Quote:
    Originally Posted by desarc View Post


    so if apple posts 14 billion in profits this year, 3 million is the equivalent of 2 cents for every hundred dollars the company made, or 0.02% of their profit.



    3 million is a huge donation, until it's put into perspective. :/



    lastly, i know someone [insanely rich] who has a 120 acre estate in new york, who put 90 acres into a land trust [it's now technically owned by the state of new york] so he doesn't have to pay property taxes on it. technically, any us citizen can go enjoy this land, EXCEPT that there's no public access to it - you would have to trespass to get to it.



    furthermore, he "donated" a huge sum of money to build a lakeside estate on that land for a charity that he set up. AGAIN, ANYONE can stay at this estate, provided they can get to the land without trespassing - only possible via helicopter or skydiving. he doesn't pay property taxes on the estate, and every dollar spent on upkeep is a tax-deductible donation.



    These are individuals donations, not Apple's. This is a much more significant amount of money for them. I'm sure this isn't a one time thing for them either. I'm sure none of Apple's execs act like your insanely rich friend. People with that behavior generally make their money in a lower profile business like real estate, patent trolling, or trading. Beyond the integrity those at Apple show, that type of thing is generally made public with the number of eyes watching Apple.
  • Reply 19 of 21
    esummersesummers Posts: 953member
    Quote:
    Originally Posted by PaulMJohnson View Post


    I totally concur.



    Unfortunately all too many people these days just can't accept that a lot of people do generous things out of entirely the correct motives.



    Well done to these Apple board members and execs for trying to make other peoples lives better. If everyone were to try and make other peoples lives better, the world would be a nicer place.



    Too many glass half full people out there. These people can't seem to understand that you can be successful and a good person at the same time. Maybe thats why I hate most TV. Generally, the plot involves one person trying to screw over another.
  • Reply 20 of 21
    kibitzerkibitzer Posts: 1,114member
    Once again demonstrating that when small-minded people post on AI, no good deed goes unpunished. if you're one of those who didn't so much as drop a dollar into a Salvation Army kettle this holiday season, you have no business getting on here and shooting off your big mouth, demeaning the personal generosity of others.
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