Apple CEO Tim Cook donates nearly $5M in company stock to charity

Posted:
in General Discussion edited August 2018
Apple CEO Tim Cook gifted 23,215 shares of directly owned company stock to an unidentified charity this week, an amount worth nearly $5 million at the end of trading on Tuesday.




Cook's charitable donation was recorded in a U.S. Securities and Exchange Commission filing today. As no shares were sold, a reporting price was not applied to the transfer.

Apple stock finished the day at $215.04, meaning Cook's gift, if converted today, would be worth $4,992,154.

While the destination of Cook's donation is unknown -- corporate leaders are obliged to disclose movement of owned shares, but are not required to publicly report a charitable transaction's recipient -- the executive has made similar gifts in the past. In 2015, Cook transferred 50,000 shares of owned company stock to an unspecified organization.

Including an acquisition of 166 shares on Jan. 31, the last effective day of Apple's 2017 Amended Employee Stock Purchase Plan period, the CEO now 878,425 shares of beneficially owned Apple stock.

This week's contribution is the latest in a string of donations from the Apple chief. In 2014, Cook donated a "substantial sum" to the Human Rights Campaign's Project One America, which focuses on promoting LGBT rights in the U.S. South. That same year, he gave $291,791 to Pennsylvania's Steel Valley School District, funds that were later used to purchase iPads for students and teachers.

In addition to direct donations, Cook has raised funds for the Robert F. Kennedy Center for Justice & Human Rights by auctioning off one-on-one lunches through online service CharityBuzz. One such auction brought in $330,000 in 2014.

Despite amassing vast wealth as Apple's top executive, Cook leads a relatively simple life that stand in contrast with other tech leaders who spend their fortunes on homes, yachts and planes. Indeed, Apple in 2017 mandated Cook use private jets for future travel, citing new security protocols.

Cook in 2015 said he plans to give a bulk of his money away to charity in what he called a "systematic approach" to philanthropy.

Comments

  • Reply 1 of 15
    sirozhasirozha Posts: 801member
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    edited August 2018 anton zuykov[Deleted User]maciekskontaktmld53a
  • Reply 2 of 15
    cgWerkscgWerks Posts: 2,720member
    I guess I'll take that age old advice..... if I don't have anything good to say...
  • Reply 3 of 15
    cgWerks said:
    I guess I'll take that age old advice..... if I don't have anything good to say...
    That would be equal to you NOT POSTING at all, tho.. Your post clearly has nothing good in it.
     So, why quoting a smart advice, and pretending to follow it, when in actuality your post went against it?
    What purpose did this serve?
    Anilu_777lamboaudi4Rayz2016newBelievermwhitechasmfastasleepmld53ajony0
  • Reply 4 of 15
    cgWerks said:
    I guess I'll take that age old advice..... if I don't have anything good to say...
    What a snarky post. How could one possibly not have something good to say? Hey, it’s his money. As far as I am concerned he is entitled to burn it in the fireplace to heat his home. It’s his money. 

    Instead he gives it away. And yet, someone can’t think of something good to say? Sad.
    Anilu_777tycho_macuserlamboaudi4newBelievermwhitechasmfastasleepmld53ajony0
  • Reply 5 of 15
    loquiturloquitur Posts: 130member
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    edited August 2018 Anilu_777mwhitechasmfastasleepcecil444mld53ajony0
  • Reply 6 of 15
    sirozhasirozha Posts: 801member
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    edited August 2018 [Deleted User]
  • Reply 7 of 15
    Cook (and Gates) are two well-known CEO’s that give to benefit charities. Good on them! 
    mwhite
  • Reply 8 of 15
    loquiturloquitur Posts: 130member
    sirozha said:
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    Insofar as one can be "purist" about shareholdership, it's tough out there!  E.g. tobacco companies may be pure profit machines,
    so I guess it's OK to mine the high-profit vein there as long as the company CEOs don't make an issue of whether or not they smoke cigarettes.  By this reasoning, profitable coal companies (are there any?) are great, too, as long as the CEO disdains lobbying the criminal enterprise operating out of the Whitehouse.  (Oops, sorry I meant the working-for-the-people civil servants within.)  Apologies for the
    whataboutism here, just barely.

    Although I am also in the category of having sizable AAPL holdings, I've bet that the net present value of AAPL shares also include a component inculcated by Tim Cook's tenure (that scoundrel, standing up for privacy rights, amongst other things.) Perhaps your
    philosophy of filtering via a Capitalist Purity Test can still obtain.   How about hedging your polluted AAPL bet with calls or puts
    bought or sold in companies that go overboard in not having the CEO care a whit about their corporate values.
    edited August 2018 tycho_macusermwhitefastasleep
  • Reply 9 of 15
    mac_dogmac_dog Posts: 909member
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    You use too many big words and far too much logic. I think someone will have to provide loquitur with a dictionary. 
    chasm[Deleted User]
  • Reply 10 of 15
    mwhitemwhite Posts: 271member
    sirozha said:
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    Don't like it sell your stock it's that easy or SHUT THE HELL UP.......
    cecil444
  • Reply 11 of 15
    SpamSandwichSpamSandwich Posts: 33,408member
    mwhite said:
    sirozha said:
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    Don't like it sell your stock it's that easy or SHUT THE HELL UP.......
    He’s a shareholder, which means he has a direct vote on issues raised every quarter.
    [Deleted User]
  • Reply 12 of 15
    mwhitemwhite Posts: 271member
    mwhite said:
    sirozha said:
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    Don't like it sell your stock it's that easy or SHUT THE HELL UP.......
    He’s a shareholder, which means he has a direct vote on issues raised every quarter.
    So it was Tim's shares he gave away not Apples shares and they mention Tim's name because he's CEO of Apple it really has nothing to do with this guys shares.
  • Reply 13 of 15
    SpamSandwichSpamSandwich Posts: 33,408member
    mwhite said:
    mwhite said:
    sirozha said:
    loquitur said:
    sirozha said:
    Tim, keep donating your personal wealth to LGBT rights. Good job!

    Just please leave Apple out of your social agenda. 
    Apple, like many corporate entities (public or otherwise), co-sponsors various activities ranging from charitable contributions
    to agencies involved in humanitarian disasters (e.g. via donations to the American Red Cross), efforts supporting
    a greener planet (Apple being nearly "net zero" here), and also human rights issues such as the LGBT movement.

    Just looking at the 2018 sponsor list for SF Gay Pride, this includes Budweiser, Hilton Hotels, T-Mobile, Smirnoff,
    Salesforce, the Commonwealth Club, Amazon, AT&T, intel, PG&E, airbnb, Lyft, many health orgs such as
    the Kaiser Foundation, Genentech, Gilead, etc., and retail ops ranging from Safeway to Nordstrom.

    Now you may be anything from a capital-L libertarian, a religious practitioner, a Leninist, or amongst those believing that any
    corporatist involvement in "social agendas" constitutes anathema.   Meanwhile, Apple and the LGBT
    rights movement marches on.
    Wrong. I’m none of the above. I‘m a shareholder with a sizeable AAPL portfolio. I don’t hold any positions in any other corporations that actively support social agendas. Let LGBT CEOs support LGBT charities. Let evangelical CEO support Christian fundamental charities. You get the drift. I don’t care what they do with their own money. I want them to keep the corporations they were hired to run out of their social agendas. I want them to focus on the main purpose of the corporation they run, i.e. increasing the value for the stockholders.  
    Don't like it sell your stock it's that easy or SHUT THE HELL UP.......
    He’s a shareholder, which means he has a direct vote on issues raised every quarter.
    So it was Tim's shares he gave away not Apples shares and they mention Tim's name because he's CEO of Apple it really has nothing to do with this guys shares.
    He’s right and you’re right. Both things are true at the same time.
  • Reply 14 of 15
    is this even newsworthy? the value ($5m) compared to his wealth is akin to the average person on the street throwing a penny to a homeless person. I think most people with his wealth donate substantial amounts - be it for truly good purposes or purely a tax write-off.
  • Reply 15 of 15
    This is what I love about Tim’s leadership and one of the many ways he’s improved Apple, by being public about his giving, and bringing philanthropy back to the company.

    Jobs, brilliant though he was, was notoriously private about his charitable giving, and didn’t have much interest in corporate giving — rather infamously shutting down Apple’s philanthropy programs when he returned to the company. Even averting bankruptcy and becoming massively profitable, he avoided reinstating Apple’s philanthropy programs, such as matching gifts — something many other (and far less profitable) tech companies offered. His public view on the matter was that it wasn’t Apple’s job to be charitable, that its focus should be on creating wealth for its people, who can then do what they will with that wealth including give to charity. (That always felt a tad heartless to me, even if it was a convenient business position to take.) It should be noted Apple did make an exception to this a policy in 2008 when it donated $100k to block Proposition 8. Ultimately Apple acknowledged then, as it does now more often and publicly under Tim’s leadership, that there are certain social policies that Apple needs to champion if it wants to do what’s best for its people. Standing on the side of equality by being pro-LGBT is one of those positions Apple realizes is for the best of its own people — it makes the company more successful at attracting talent, which leads to better products, which in turn profits its shareholders, whether they acknowledge that connection or not. 
    mwhitefastasleep
This discussion has been closed.