Apple CEO Tim Cook donates $6.56M to charity

[onehandle]

Source: Apple Insider/SEC

An SEC filing posted Friday reveals Apple CEO Tim Cook donated 50,000 shares of Apple stock worth more than $6.56 million to an unspecified charity, the latest gift in a flurry of philanthropic activity rarely seen with company executives.



According to the Form 4 filing, Cook's gift was executed on Thursday with 50,000 shares of directly owned stock transferred to an unspecified organization. The CEO is obliged to disclose movement of owned shares, but is not required to publicly report the transaction's recipient.

Since taking the reins at Apple, Cook has been an active proponent of giving, most recently auctioning off a one-on-one lunch and tickets to an Apple keynote event through online auction service CharityBuzz. Proceeds of that sale went to the Robert F. Kennedy Center for Justice & Human Rights. A similar charity auction went for $330,000 last year.

This week's contribution follows a December donation to the Human Rights Campaign's Project One America, which focuses on promoting LGBT rights in the U.S. South. In March, Cook said he planned to give his entire fortune — currently floating at around $1 billion — away to charity.

Read more: http://appleinsider.com/articles/15/05/29/apple-ceo-tim-cook-donates-656m-to-charity

[TexasBushwhacker]

1. I hope it catches on.

But I'm not holding my breath.

[hibbing]

2. Well that's nice

I hope all the Chinese workers all these companies use can take comfort in that.

Peace

[PSPS]

3. No kidding.

All of those millions could have at least purchased new sleeping pads to make "life" more comfortable in the worker's six square feet of "living space."

[onehandle]

8. Apple is the first and only company to do something about conditions at Chinese factories.

Additionally, if you used some sort of electronic device to post that, it was made in the same Chinese factories.

[hibbing]

11. uh..

My comment was specifically not limited to Apple. Good luck to you.

Peace

[HuckleB]

4. Phil Knight gave $500 million to cancer research.

Yes, he did it as a matching gift, but it is being matched.

IOW, this is tiddly winks in the world of fund raising.

[newthinking]

5. There is no way from this to know what the charity is?

I haven't been following him. It seems he has supported decent charities before, but I guess the skeptic in me will wait a bit to give thanks.

[onehandle]

7. Tim Cook is the most powerful gay CEO in history.

Who has shut conservative fuckwads down complaining about Apple's green initiatives at stockholder meetings.

So I would guess the charities are worthwhile.

[quadrature]

6. Apple --> world class tax cheats ....nt

[onehandle]

9. Nope. They are using the rules set up by the federal government.

If I could, I would change those rules and make Apple, Google, Microsoft, and every single oil company pay their fair share.

Every year I pay an account to make sure I pay the minimum taxes possible. These companies do the same.

[7962]

10. You wouldnt have to pay an accountant if the govt would trash the tax code.

Get rid of the deductions and paying is a snap. Flat rates & a sales tax. Yes, I'm all for it even though it would make me pay more than I do now

[onehandle]

12. I would consider a flat tax on income, investments, real estate, and other property over 500k.

Same for companies and corporations with the same level of income and worth.

Say about 90% like it was back a few decades ago.

Zero federal taxes on everyone else.

Winning!

[7962]

15. But it wasnt "flat" back then and almost no one actually paid it

Because of the deductions. The problem with over taxing the rich is that there arent enough of them to pay all the bills. And you'll never raise enough by simply hitting the rich with a high rate. France is a good very recent example. 75% tax on the super rich. Got them hardly anything. Now they've dropped it. Its fun on paper, but we gotta deal with reality!

[Socal31]

14. See, you CAN do something with millions....

Something that doesn't involve multiple large withdrawals to pay boy victim hush-money.

[Dont call me Shirley]

16. How about paying ALL workers involved in getting apple products to market a living wage!

Read Chris Hedges excellent article:

"Rich white families, their sycophants opine, have tried to help. Rich white families have given poor people numerous resources and government programs to lift them out of poverty. They have provided generous charity. "

http://www.truthdig.com/report/item/the_pathology_of_the_rich_white_family_20150517

[tenderfoot]

17. I need to know what it is about him that allots him his HUGE salary to begin with.

eom

Isn't he special - regardless of the right wing dickbags he battles on occasion.

How is it that he gets paid what he does?