Tim Cook donates $2M to unnamed charity

Posted:
in General Discussion
Apple CEO Tim Cook last week donated 6,880 in personally owned company stock to an as-yet-unidentified charity, an amount worth about $2 million as of the trading date.

Tim Cook


According to a U.S. Securities and Exchange Commission filing on Thursday, Cook conducted the transaction on Dec. 27, when Apple shares were priced at $289.80. No shares were sold and a reporting price was not applied to the transfer, meaning the exact sum Cook donated will likely remain unknown.

Executives of publicly traded companies are not required to reveal the destination of charitable donations, but Cook has in the past made donations to the Human Rights Campaign's Project One America, a gay rights initiative. The Apple chief in 2014 donated hundreds of thousands of dollars to Pennsylvania's Steel Valley School District, a gift that funded the purchase of iPads for students and teachers.

Cook routinely participates in philanthropic activities like auctioning off one-on-one meet-and-greets through CharityBuzz. In 2014, for example, a lunch with Cook at Apple's headquarters sold for $330,000. Proceeds of the online sales typically go to the Robert F. Kennedy Center for Justice & Human Rights.

Like other tech executives -- albeit not a multi-billionaire -- Cook has promised to give a bulk of his money away to charity and in 2015 said he plans to take a "systematic approach" to philanthropy.

In addition to today's reported donation, Cook made similar gifts to unspecified organizations over the past few years. He donated 50,000 Apple shares to an unidentified third party in 2015, 23,215 shares in 2018 and 23,700 shares in 2019.

Following last week's trade, Cook controls 847,969 shares of beneficially owned Apple stock that, as of today, is worth $256.5 million.
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Comments

  • Reply 1 of 25
    Perhaps it was to the children in the cobalt mines? 
  • Reply 2 of 25
    bulk001bulk001 Posts: 654member
    Do we really need to know this? Is it the Tim Cook insider show??? Let the guy give privately and keep it professional and focused on Apple! Very disappointing that you can’t respect his privacy. 
    baconstangSpamSandwichpacificfilmdavenmwhitedavgreg
  • Reply 3 of 25
    Anytime the charity goes unnamed I presume  it’s going to The Human Fund. 
    SpamSandwichOfer
  • Reply 4 of 25
    I don’t see how this is my business... it’s a personal donation.
    baconstangpacificfilmdavgregjdb8167
  • Reply 5 of 25
    lkrupplkrupp Posts: 9,457member
    I don’t see how this is my business... it’s a personal donation.
    It’s socialism's business because wealthy people never donate enough to suit them.  Jony Ive donated $100 grand to plant tress and was castigated for it by the internet. Elizabeth Warren’s “I hate billionaires” movement has many followers. 
    mwhite
  • Reply 6 of 25
    its the new year and snark is already present for some sad souls. AI,, is this important to know? Anonymous gift means anonymity.  Starting a guessing game is a fools errand not time well spent. I do take time to speak out when I sense an attack on someone doing good, otherwise, let them be.
  • Reply 7 of 25
    bulk001bulk001 Posts: 654member
    lkrupp said:
    I don’t see how this is my business... it’s a personal donation.
    It’s socialism's business because wealthy people never donate enough to suit them.  Jony Ive donated $100 grand to plant tress and was castigated for it by the internet. Elizabeth Warren’s “I hate billionaires” movement has many followers. 
    What are you talking about? Let people give what they want to give. Who cares what “the internet” or “Elizabeth Warren” says! A personal donation is just that. Thank you Tim Cook for giving. Fuck anything else (including AI for trying to make a story out of this!)
    edited January 2020 lkrupp
  • Reply 8 of 25
    fastasleepfastasleep Posts: 5,689member
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    tmayRayz2016
  • Reply 9 of 25
    bsnjonbsnjon Posts: 33member
    Nobody is trying to shame Cook for merely mentioning the fact of this donation. 

    Stock trading patterns of important executives are literally public business, that is why they are disclosed to government regulators. This may not be the most mind blowing story, but it is news about Apple, and therefore an obvious thing for AI to post about. 
    bestkeptsecretStrangeDaysOfer
  • Reply 10 of 25

    Apple CEO Tim Cook. Apple Stock. Confirmed, since there was a filing with the U.S. Securities and Exchange Commission.

    How is this not Apple news?

    Ofer
  • Reply 11 of 25
    wizard69wizard69 Posts: 13,377member
    lkrupp said:
    I don’t see how this is my business... it’s a personal donation.
    It’s socialism's business because wealthy people never donate enough to suit them.  Jony Ive donated $100 grand to plant tress and was castigated for it by the internet. Elizabeth Warren’s “I hate billionaires” movement has many followers. 
    It would be an absolute disaster for tech in this country if Warren gets elected.  Her obsession with big companies is deplorable.  

    By the way that doesn’t mean there aren’t things to address, but breaking up companies simply because of their size in this day and age is stupid beyond belief.  It is an international world and frankly a company needs size to hold its own against companies based outside the USA.  
  • Reply 12 of 25
    wizard69wizard69 Posts: 13,377member
    bulk001 said:
    lkrupp said:
    I don’t see how this is my business... it’s a personal donation.
    It’s socialism's business because wealthy people never donate enough to suit them.  Jony Ive donated $100 grand to plant tress and was castigated for it by the internet. Elizabeth Warren’s “I hate billionaires” movement has many followers. 
    What are you talking about? Let people give what they want to give. Who cares what “the internet” or “Elizabeth Warren” says! A personal donation is just that. Thank you Tim Cook for giving. Fuck anything else (including AI for trying to make a story out of this!)
    I think you need to read that post again.  
  • Reply 13 of 25
    wizard69wizard69 Posts: 13,377member

    Apple CEO Tim Cook. Apple Stock. Confirmed, since there was a filing with the U.S. Securities and Exchange Commission.

    How is this not Apple news?

    Because personal charity is nobodies business but the donors.  If this was Apple “the corporation” donating it would be a different story and something for public review.  
    seanismorris
  • Reply 14 of 25
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    Get introduced by the concept of middlemen in its most extreme form around the Bangka Island mines.
  • Reply 15 of 25
    fastasleep said:
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    Get familiar with the concept of middlemen and its untraceable hierarchies around the Bangka Island mines.
    edited January 2020
  • Reply 16 of 25
    wizard69 said:

    Apple CEO Tim Cook. Apple Stock. Confirmed, since there was a filing with the U.S. Securities and Exchange Commission.

    How is this not Apple news?

    Because personal charity is nobodies business but the donors.  If this was Apple “the corporation” donating it would be a different story and something for public review.  
    So someone in the closest Cook-circle must have leaked something...
    Guess who in that particular selection of 1 single man might have had a PR interest of being adverted as a beneficiary ?
    edited January 2020
  • Reply 17 of 25
    fastasleepfastasleep Posts: 5,689member
    fastasleep said:
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    Get familiar with the concept of middlemen and its untraceable hierarchies around the Bangka Island mines.
    They are actively working on reducing these problems to the best of their abilities. Go read their 2019 environmental responsibility progress report, this is literally a priority. 

    StrangeDays
  • Reply 18 of 25
    fastasleep said:
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    Get familiar with the concept of middlemen and its untraceable hierarchies around the Bangka Island mines.
    They are actively working on reducing these problems to the best of their abilities. Go read their 2019 environmental responsibility progress report, this is literally a priority. 

    So tell me how they beat the concept of staggered middlemen who hide misheap the world shouldn’t see.
    You can’t deplete the planet’s lithium, cobalt and tin resources and simultaneously have a “better planet” as a priority - which then is a lower priority, apparently
    Never mind, dupable followers will always believe the multinational companies‘ half-truths
    edited January 2020
  • Reply 19 of 25
    macguimacgui Posts: 2,045member
    It always make me laugh when someone wants to make bigger donations with another's money.

    Locally, a politician said everybody should 'take-in' a homeless person to help reduce the 'homeless problem'. When asked if she was going to do so, she replied she couldn't, as she has a husband and two children.

    If only it were possible to require everyone claiming someone else isn't contributing enough, to disclose their annual income of all monies, and the amounts and destinations of their contributions, and whether or not they claimed them as tax deductions.

    The noise level of moral outrage and indignation, not to mention torches and pitchforks would be greatly reduced.

    There would probably be a level of contribution braggadocio to contend with, as there are those who need to shine a light on their perceived greatness, but I can live with that.


  • Reply 20 of 25
    fastasleepfastasleep Posts: 5,689member
    fastasleep said:
    mr lizard said:
    Perhaps it was to the children in the cobalt mines? 

    Apple investigated, stating that it has a zero-tolerance policy toward the use of child labor anywhere in its supply chain.

    When a supplier is found to be violating child labor laws, Apple forces it to perform the following tasks:

    • fund the worker’s safe return home
    • finance the worker’s education at a school chosen by the worker or his/her family
    • continue to pay the worker’s wages
    • offer him or her a job when he or she reaches legal age to work
    Get familiar with the concept of middlemen and its untraceable hierarchies around the Bangka Island mines.
    They are actively working on reducing these problems to the best of their abilities. Go read their 2019 environmental responsibility progress report, this is literally a priority. 

    So tell me how they beat the concept of staggered middlemen who hide misheap the world shouldn’t see.
    You can’t deplete the planet’s lithium, cobalt and tin resources and simultaneously have a “better planet” as a priority - which then is a lower priority, apparently
    Never mind, dupable followers will always believe the multinational companies‘ half-truths
    You have better technology to meet the goals of current computing paradigms that don't use any of these materials? You don't "beat the concept", you work with what you have and improve on it as you're able to do so, which by all indicators is what they're doing. For example, beginning to use recycled cobalt, increasing use of 100% recycled tin, using new recycled aluminum enclosures, partnering with experts and academia to expand these kinds of endeavors. 

    Have you read this?
    https://www.apple.com/environment/pdf/Apple_Material_Impact_Profiles_April2019.pdf

    "With a list of priority materials on which to focus first, we created material-specific working groups and have active projects in aluminum, cobalt, copper, glass, gold, lithium, paper, plastics, rare earth elements (neodymium, praseodymium, dysprosium), steel, tantalum, tin, tungsten, and zinc. Each working group consists of experts from our engineering, procurement, operations, supplier responsibility, and environmental teams, and is tasked with developing a deeper understanding of Apple’s specific materials supply chain and closing the loop for the particular material. And as we strive to source increasing amounts of recycled materials, we will continue to ensure that these materials are processed in a way that meets our requirements and protects the rights of all people in our supply chain."

    The whole report is fascinating. They're figuring it out as they go, as best they can. The whole parent report covers even more. Who else does this? 

    https://www.apple.com/environment/pdf/Apple_Environmental_Responsibility_Report_2019.pdf

    If you're just going to be like, "electronics bad because mining" then we can probably end this conversation here. 

    StrangeDays
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