In a filing with the Securities and Exchange Commission (SEC) today, Apple revealed that CEO Tim Cook has donated 50,000 Apple stock shares to charity this week. At today’s stock price of just over $130 per share, this number of shares is equivalent to approximately $6.5 million. Cook’s previous publicly-known, personal donation was to Project One America, an LGBT equality campaign…
Apple did not disclose which charities Cook donated these shares to today’s filing, which was first noted by Daisuke Wakabayashi. The filing notes that Cook did not simultaneously sell any shares for his benefit. In related news, Apple’s Senior Vice President of Hardware Engineering Dan Riccio sold 24,085 shares this week, which is equivalent to approximately $3.1 million at today’s share price.
Since becoming CEO in 2011, Cook has promoted charity as a key part of Apple’s mission. Upon taking over, Cook initiated an employee charity program. Cook has also held several lunches for charity on Apple’s campus and has pledged to give away all of his money to charity over the course of the rest of his life. Apple has also expanded its offerings for employees to help their communities.
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Tim Cook seems like a much more admirable human being than Steve Jobs. Wall Street must hate him …
Yes, it’s apparent that Wall Street does indeed hate Tim Cook. He’s openly gay, supports gay causes and wants to greenify Apple. Wall Street hates CEOs who don’t put enough money back into investors pockets. Tim Cook will never be part of the Wall Street Boys’ Club. Wall Street despises companies who want to go green because it’s like Apple is just throwing away money on things that don’t pay off and they’re going to make sure Apple pays dearly for it.
A bonus is that by donating stock, he gets to take a tax deduction based on the full fair value of the stock but does not need to report the increase in fair value since he bought/received the stock as income.
The cool part is that there is no difference for Tim Cook here. The Charity is receiving the extra bonus money from “double tax play”, not the Donor.
If only he is not a gay, I’d love to be his wife ha ha ha….
A lot of respect to his humanity, responsibility and commitment to the community. Wall Street Boys like dirty sh** playing which can’t be found in apple.
The world might be a better place if more of the “Titans of Wall Street” were more socially responsible like Tim Cook and Warren Buffet.
“They make money the old fashioned way — They Earn IT!” in my best John Houseman Voice
I wonder what was the lucky charity
People may say he has enough money to do it, but many have the money and don’t, so kudos to him.
” Cook has also . . . pledged to give away all of his money to charity over the course of the rest of his life.”
That – IMO – is someone who defines Altruistic! I only hope that I can do the same (though if my wife outlives me, she gets it all).
And rightfully deserves it for putting up with me! ;)
good guy tim :) i like him more and more over steve jobs somehow… the only negative thing is that the keynotes are boring when he talks… but hairforce one is here to save them keynotest :)
But once again, my charity, The Human Fund, is ignored by Mr. Cook.