CEO Tim Cook breaks down $150M in charitable contributions by Apple
Among the various topics, like the new employee discount program, discussed at a recent all-hands Town Hall session with Apple employees was something seemingly very important to CEO Tim Cook: Charity. Unlike cofounder Steve Jobs who thought his company should focus on maximizing shareholders’ value so they can donate their own wealth, the new boss is adamant that Apple must do more on this front.
According to The Verge, the Town Hall meeting saw Cook shed more light on Apple’s charitable contributions that totaled $150 million (versus a cool $97.6 billion they had in the bank last quarter):
According to our sources, Cook said that Apple has donated a total of $50 million to Standford’s hospitals, split into $25 million for a new main building and $25 million for a new children’s hospital. Cook also spent quite a bit of time talking about Apple’s status as the leading contributor to Project RED, and expressed pride that Apple’s given over $50 million to the effort since it started.
According to Apple’s website, the Product Red initiative generated more than $180 million for the Global Fund since its inception. As 9to5Mac first reported back in September, one of the first important moves (anti-Jobsian, perhaps?) of then newly appointed CEO was a company-wide charity matching program for donations made by Apple employees up to $10,000 a year.
