And that piece of information, though accurate, didn’t even come from Cook!
Got a tip for us?
Let us know
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
- Thread starter MacRumors
- Start date
- Sort by reaction score
And that piece of information, though accurate, didn’t even come from Cook!
Well most people donate some percentage of their income to charity. Its just illustrates his income is a lot more then us. Still its a wonderful gesture.
Probably the most down to earth comment on the board.
Others are also ignoring the massive wealth Tim has made shareholders since his inception. If any CEO has actually -made- their money he’s in the list.
You have to love people. Tim Cook donates five mil and they're like why not a hundred mil. If he donated a hundred mil they would say why not a bill 🤦♂️
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.
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
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.
because there was a lot of knee jerk money going to “charities” that weren’t appropriating the money the way the purported to. id like to know where the money went before praising anyone about their ‘public’ but not public donation. IOW, he knew this would make the press.
That's philosophically incorrect - unless your human needs scale proportionally with income:
Does Tim Cook require 100000x as many calories as you do (food expenses?), does he need a toilet that is 100000x larger?
How about a house, or does his car need to go 100000x faster? The hypothetical education of his kids - would that cost 100000x more?
No?
Then the comparison of " 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." is ridiculous.
Wait, so you're just envious of the press attention? Okay then...
As far as appropriate use of the contribution by the recipient, it's pretty hard for me to think the donor of a large pile of money wouldn't have an accountant who makes use of the publicly available tools that measure a charity's handling of its finances relative to other 501(c)(3) entities.
It always gets on my nerves when people are nasty about rich people donating money to charity. This is like looking a gift horse in the mouth.
Be bloody glad that GOOD people like Tim Cook, Bill Gates, Zuckerberg and so forth DO donate money to charity: I know I am as I, myself, don't have any money to donate (well, I do donate a bag of old clothes once in a while).
Be bloody glad that GOOD people like Tim Cook, Bill Gates, Zuckerberg and so forth DO donate money to charity: I know I am as I, myself, don't have any money to donate (well, I do donate a bag of old clothes once in a while).
Last edited:
He didn’t ever specify when he’ll give it all away though, right? Let’s focus on the positive then, not that many donations in that ballpark happen I guess.
First stone all over again. Glad you are capable of donating more than him and you probably donate to causes you don’t support at all. Makes total sense.
He executes Steve’s plan to the smallest degree it seems. Today’s Apple producing it all in China and elsewhere is a Steve achievement.
So it's meaningless to donate unless it's a significant portion of your net worth? You've gotta be kidding me. Someone has zero requirement to make any donation and you complain about it.
Downplaying the good to suit your own agenda whatever that could be.
Excellent news and well-deserved!
Well, while I acknowledge this and applaud it, I'd rather had Apple pay fair taxes and not using legally-allowed, but morally questionable measures to reduce taxes. I pay two full months of my gross income as direct taxes, the indirect ones not included. How much of the total gross income of Apple goes back to the world's societies as taxes? 5%? 1%? or even less? I need to investigate this...
envious? Where did you get that from? It’s clear that he did this in a way that would be recognized publicly without him releasing something himself.
if you think his accountant was telling him what charity to donate to I think you are mistaken. There have been a lot of ‘smart’ people donating to charities that have been less than moral with the use of the money. That was my original point. It’s clear you want to believe it was to a good cause, all I’m saying is no one but he really knows, and if you’re going to do this in that way, why not make that public too?
Thats very nice of him to give back especially on a yearly basis, $5M can do a lot in different projects...imagine how many schools in Africa, water wells, FOSS projects, saving animals, publishing books, forestation...
I don't understand though why many people try to create the biggest wealth possible and then give it all away, like Buffet and Jobs and now Cook.
I thought he was worth $1B...?
I don't understand though why many people try to create the biggest wealth possible and then give it all away, like Buffet and Jobs and now Cook.
I thought he was worth $1B...?
Yah, not that we should be "bragging", but especially for those of us with outstanding loans such as school loans and no major property/investments, our net worth is essentially nil.
People forget how big numbers really are. If this guy actually is worth a billion, that means earning $100,000, 10,000 times. How many lifetimes would most people need to accumulate that? But for these people, their life is a numbers game. A normal person would have stopped working after they hit 10mil or maybe even 100. But that's why we aren't running multinational companies and instead sitting at our office desk and making armchair comments on MacRumors forums 😅
There are tax advantages to donating appreciated shares rather than cash (or the proceeds of share sales). That's mostly likely why he has made some donations in the form of shares, even though he knows that there are reporting requirements relating to such donations.