Sidebar Sidebar
Become a MacRumors Supporter for $50/year with no ads, ability to filter front page stories, and private forums.

Apple CEO Tim Cook Donates $5 Million in Stock to Charity

stevet said:
Don’t you have to know where the money is going in order to applaud him?
Click to expand...

Do I expect that the IRS (and the states of a charity's registration) don't just take anyone's word for whether an entity meets legal and fiscal standards to qualify for charitable contributions? Of course I do.

www.investopedia.com

What Is a Qualified Charitable Organization?

A qualified charitable organization is a nonprofit organization that qualifies for tax-exempt status according to the U.S. Treasury.
www.investopedia.com www.investopedia.com

Past that, how is it my concern that anyone directs personal charitable contributions to a particular 501(c)(3) organization? I appreciate the freedom to make such contributions as I wish, and so respect others' freedom to do that as well.
 
  • Like
Reactions: citysnaps
It is impossible to extrapolate from Steve Jobs' track records at Apple how he would have dealt with what is Apple today as it evolved after Cook was made CEO.

Maybe in overviews of world history there's "nothing new under the sun" and maybe that old cliché is a complete crock. In the relative microcosm of tech industries it certainly can't pass for wisdom of the ages!

As the world turns... innovation and activism count but also "stuff happens". No player is alone on the stage and working in a vacuum. New problems. New solutions. New fun stuff too. And... competition. We all play the hand we're dealt to some extent and no reason to think either Steve Jobs or Tim Cook can have ended up exceptions.
 
Last edited:
  • Like
  • Disagree
Reactions: I7guy, bLackjackj and citysnaps
I am curious, is donating stock options/shares better than giving straight cash?
 
Veinticinco said:
Hmmm. Isn’t this a tax break? He could always cash in the stock options and make a private donation that doesn’t require any public disclosure.
Click to expand...

So cash out, pay taxes and donate what's left? I can't see how that's any better.
 
Tim Cook is no Steve Jobs but then again Steve Jobs was no philanthropist. So kudos Tim.
 
Tim just gave 5% of his NET WORTH to charity. I mean, with my net worth, I'll have to give several thousands of dollars to charity to match the ratio he is giving. I can't do that. That's a lot of money, even for Tim. It's not anywhere near Bill Gates or Warren Buffett. But it's still a very generous act.
 
  • Like
Reactions: ericwn, ohmydays, LizKat and 1 other person
clive27 said:
Tim just gave 5% of his NET WORTH to charity. I mean, with my net worth, I'll have to give several thousands of dollars to charity to match the ratio he is giving. I can't do that. That's a lot of money, even for Tim. It's not anywhere near Bill Gates or Warren Buffett. But it's still a very generous act.
Click to expand...
It’s an outstanding gift, but it’s more like 0.5% of his net worth.

This once again proves most people have no concept of numbers.
 
  • Like
Reactions: plncrzy
Rogifan said:
Not really. $5M is a lot more than $1.
Click to expand...

Which most people still feel good about when they press it at the grocery store.
At least this is a bit more substantial, if it’s in stock as well they could hold on to it and it could grow.
 
GtrDude said:
This is probably as if I were to donate a dollar.
Click to expand...

His net worth is 1,000,000,000, so a single 5,000,000 donation (which is not his only one) is some 0.5% of his net worth.

It's like I donated $10,000+ (which I don't, by the way, because all my money is either invested or reinvested into my own company - giving jobs feels more fulfilling to me than giving away cash. Maybe I need to wait until my company is too big to hire any more people, like Apple is :cool: ).

So if your $1 donation were to match the math, your total net worth must be $200, which means you can't even afford a device to get online and write silly posts ;)
 
Last edited:
  • Like
Reactions: Baymowe335
7149041 said:
His net worth is 1 billion, so this single donation (which is not his only one) is some 0.5% of his net worth.

So if your $1 donation were to match the math, your total net worth must be $200, which means you can't even afford a device to get online and write silly posts ;)
Click to expand...
Most people actually have a negative net worth.
 
  • Like
Reactions: waterfta
Yes, charity is good, and I don't know how much Tim Cook donates to charity each year--it could be much more then $5M. At least, I hope it is.

However, keep in mind that he's one, if not the, highest paid CEO. His compensation for 2019 was >100 M, second only to the egomaniacal Elon. Wether this compensation is justified or not it's another discussion. I think it's not.
 
Last edited by a moderator:
dragoon2745 said:
I understand he wants to do this in a tax advantageous manner but it seems like he could give away more than $5 million per year if the plan is the give away almost all of his wealth.
Click to expand...

It isn't yours or mine to dictate to Tim Cook when he gives his money away.

By way of example, I am single and 49 years old. I have strong commitments to give away money. But I don't want to do so too soon, because one day something horrible could happen in my life and I would want to "keep my powder dry" (to borrow Tim's words in other contexts).

Tim Cook is a very successful man. I am sure that he has a will that will account for anything that is "left over".

And, without oversharing, I have used AAPL as a gift-giving mechanism myself. It is tax advantageous to do so, but then/now I no longer own those shares, which, in hindsight, are very valuable today.
 
Veinticinco said:
That’s not the Cook way though is it? He‘s always keen to be seen doing the right thing. Appearances matter.

An annual 5 mill is back of the sofa money for Tim, and it also doesn’t align with his statement about giving away the “vast majority” of his wealth, given his age.
Click to expand...

And why do you assume that's all he's going to give away over his lifetime? Or hasn't written in his will how to dispose of the rest?
 
  • Like
Reactions: demodave
DeepIn2U said:
That’s the part that bothers me about this. Is the charity a deposit to be held for himself later down the road? Hmmm.

Maybe he’s keeping it private to avoid criticism of his personal endeavours who knows.
Click to expand...


Look at the discovered SEC Filing. He did not go out of his way to hide it, the form just doesn't have any recipient field. There's no way to enter any.
 
  • Like
Reactions: DeepIn2U
You must log in or register to reply here.
Register on MacRumors! This sidebar will go away, and you'll see fewer ads.
Top Bottom
Back