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

[PickUrPoison]

Good for him. Now perhaps he can donate to the charity that is me, and lower the prices of SSD upgrades by half again so I can afford a new Mac with decent storage

Unless you are a 501(c)(3) or other tax exempt organization, I think the chance of that happening is approx zero lol.

Perhaps a side hustle would be useful, or should you not want to earn it yourself, you could maybe try your hand at a gofundme. Good luck to you!

 

[AnthonyHarris]

Unless you are a 501(c)(3) or other tax exempt organization, I think the chance of that happening is approx zero lol.

Perhaps a side hustle would be useful, or should you not want to earn it yourself, you could maybe try your hand at a gofundme. Good luck to you!

Oh, no. I’m not that much in need. I think “I need a bigger SSD, fund me” would get laughed off the website.

I’m just waiting for some rich people to notice my jewellery designs. I will then have no problem. Until that time, I’ll have to stick with 256GB internal and a 1TB T5 drive.

 

[ingik]

Just for perspective

 

[PickUrPoison]

Oh, no. I’m not that much in need. I think “I need a bigger SSD, fund me” would get laughed off the website.

I’m just waiting for some rich people to notice my jewellery designs. I will then have no problem. Until that time, I’ll have to stick with 256GB internal and a 1TB T5 drive.

Yeah I was just having a little fun with you

The T5 is nice, but if you do get a new Mac, save up for the X5. They scream.

And good luck with the jewelry designing. My sister designed and made her own jewelry (mostly earrings) and I used to help her sell it on the art and wine festival circuit. There’s certainly money to be made in the business.

 

[Justanotherfanboy]

Can the deduction be carried over or only in the current year?

Because saving $100-200k and reducing your tax liability by $100-200k are two different things.
[doublepost=1566887624][/doublepost]Question is - why not donate 80% of your wealth today while the stock is up? (Assuming he plans to donate 80%).

Apple could very easily tank to sub $10 per share and now it doesn’t help anybody.

Lol, you were using “smart words” there for a second...
The notion of Apple “very easily” dropping to sub $10/share ruined it, though. =/

A trillion dollar company losing over 95% of its value is not “very easy”, nor “remotely likely”, nor even “within the realm of possibility”. You have a better chance of winning the lotto repeatedly, whilst being struck by lightning.
Get real. Apple’s simple assets (stores, Apple Park, etc.) are worth more than 5% of the stock price. Your comment is one of the worst thought out, completely devoid of truth financial concepts I’ve ever seen written.

 

[ksnell]

Can the deduction be carried over or only in the current year?

Because saving $100-200k and reducing your tax liability by $100-200k are two different things.
[doublepost=1566887624][/doublepost]Question is - why not donate 80% of your wealth today while the stock is up? (Assuming he plans to donate 80%).

Apple could very easily tank to sub $10 per share and now it doesn’t help anybody.

You're assuming the company share price has peaked. What if it doubles again?

 

[blacktape242]

helping with his taxes is all this is. At least I hope the money goes to help something good.

 

[theapplehead]

In his own personal stock? Or the stocks of the Apple company? Why won't Timmy just don't some of his own millions instead of other people's?

 

[Kabeyun]

helping with his taxes is all this is. At least I hope the money goes to help something good.

Your second sentence invalidates your first. i.e. therefore, that’s not all it is. But if charitable donation nets him some tax savings, so be it. I assume you have no problem with that. How much do you donate to charity?

 

[blacktape242]

Your second sentence invalidates your first. i.e. therefore, that’s not all it is. But if charitable donation nets him some tax savings, so be it. I assume you have no problem with that. How much do you donate to charity?

actually I do donate to charities, I donated quite a bit to staff that work for my business that lost everything in the nor cal fires. Also my career is helping the poor, sick, indent needs of the mentally ill. so yah there is that....

 

[Will do good]

Tax evasion 101

Why so much hate?

 

[aliensporebomb]

He didn't donate it to the Human Fund did he? Money for people?

 

[C DM]

actually I do donate to charities, I donated quite a bit to staff that work for my business that lost everything in the nor cal fires. Also my career is helping the poor, sick, indent needs of the mentally ill. so yah there is that....

So clearly it's not all simply about helping with taxes.

 

[PickUrPoison]

helping with his taxes is all this is. At least I hope the money goes to help something good.

Sure. He’s donating $5 million just so he can “save” $1 million on taxes. He donated $100 million in 2012 just so he could “save” $20 million.

Really? Who spends $100 million to save $20? You realize he’s still down $80 million, right? And when he eventually gives away $1 billion or more—his entire fortune—will that also be just to “help with his taxes”?

You might want to find something else to complain about, someone giving away a billion dollars to charity doesn’t seem to be such a big problem.

 

[PickUrPoison]

In his own personal stock? Or the stocks of the Apple company? Why won't Timmy just don't some of his own millions instead of other people's?

Yes, it’s his own personal money. As was the $100 million he donated back in 2012. And before he dies, he’ll be giving away $1+ billion—his entire fortune.

One would think that worthy of some measure of support, rather than belittlement. But Mr. Cook has yet to earn your respect.

 

[Nütztjanix]

Yes, it’s his own personal money. As was the $100 million he donated back in 2012. And before he dies, he’ll be giving away $1+ billion—his entire fortune.

One would think that worthy of some measure of support, rather than belittlement. But Mr. Cook has yet to earn your respect.

Whatever one might think of his qualities as Apple CEO, and whether he's good for the company or isn't - in his stances regarding social and ethical matters I can see no wrong. So maybe some people should separate their views of Tim Cook as CEO from their views of Tim Cook as a person.

 

[crsh1976]

Hope it was to put out the Amazon fires, and not some billionaire's "charity" / tax write-off.

Even if he gives it all for the Amazon fire effort, it's still a tax write-off.

 

[PickUrPoison]

Even if he gives it all for the Amazon fire effort, it's still a tax write-off.

He’s given over $100 million to charity, and in return the government gives him $20 million back as a tax break.

That’s how it works here in the US. It’s set up that way to encourage taxpayers to make donations. The charity gets $100 million but it only costs Mr Cook $80 million.

 

[Nütztjanix]

People seem to think this somehow makes him more wealthy than he was before the donation

 

[crsh1976]

He’s given over $100 million to charity, and in return the government gives him $20 million back as a tax break.

That’s how it works here in the US. It’s set up that way to encourage taxpayers to make donations. The charity gets $100 million but it only costs Mr Cook $80 million.

I'm not disputing that, it is how it works - I'm simply pointing out that whether the money goes towards this month's tear-jerking tragedy or some vague "foundation" just to get a tax write-off, the end result is the same for the donor. Wealthy people give money because there's a benefit at the end, otherwise they wouldn't do it or they wouldn't give as much (as observed in several countries, when rules get changed and tax write-offs for donations decrease, donation rates go down sharply).

 

[blacktape242]

So clearly it's not all simply about helping with taxes.

trust me i pay PLENTY of taxes, I dont have any issue with him doing it, its a smart thing to do.
[doublepost=1567005010][/doublepost]

Sure. He’s donating $5 million just so he can “save” $1 million on taxes. He donated $100 million in 2012 just so he could “save” $20 million.

Really? Who spends $100 million to save $20? You realize he’s still down $80 million, right? And when he eventually gives away $1 billion or more—his entire fortune—will that also be just to “help with his taxes”?

You might want to find something else to complain about, someone giving away a billion dollars to charity doesn’t seem to be such a big problem.

i was just stating a fact..

 

[C DM]

trust me i pay PLENTY of taxes, I dont have any issue with him doing it, its a smart thing to do.

Not sure how that related to what I commented on.

i was just stating a fact..

It would appear to be a "fact" that this very discussion shows doesn't hold up.

 

[4487549]

Even if he gives it all for the Amazon fire effort, it's still a tax write-off.

Not my point. Hence the quotes on "charity". Get it?

 

[PickUrPoison]

i was just stating a fact..

No, you weren’t. What you stated was: “helping with his taxes is all this is”, as if Cook donated $100 million merely for his own selfish benefit.

In fact, donating huge sums to charity is far from the self-serving act you claim it is. The guy’s going to give away his entire $1+ billion fortune before he dies, and that has zero to do with “helping with his taxes”. It’s about him wanting to leave the world a better place than he found it.

Your statement was unfair and untrue, and not factual in the least. Why is it so hard for people to admit they’re wrong?

 

[s15119]

Tax evasion 101

Do you have anything to prove your libel?

WOW. Some Macrumors readers are so filled with hate and delusion, they are insulting and libeling Mr. Cook for giving money to charity. I seriously pity some of you.