Apple's Tim Cook will give away all his money: Fortune

Discussion in 'Current Events' started by mrtravel123, Mar 26, 2015.

  1. mrtravel123 macrumors regular

    Aug 9, 2007
    Apple's Tim Cook will give away all his money: Fortune

    (Reuters) - Apple Inc Chief Executive Tim Cook is joining the roster of the very rich who are giving away their wealth.

    Fortune magazine cited the head of the world's largest technology corporation as saying he planned to donate his estimated $785 million fortune to charity - after paying for his 10-year-old nephew's college education.

    More here...

    Pretty amazing. Since becoming CEO he's consistently demonstrated this type of giving attitude (Apple matching employee contributions to charities, letting employees donate time to charities, etc).

  2. Unami macrumors 6502a

    Jul 27, 2010
    good news - if only apple were to adopt a more "fair trade" philosophy and invest more of their profit into improving workers condition.

    i know, they do some, but i feel they could do much more.

    why not introduce something like a "product green" iphone for double the price, where workers all along the supply chain got paid substantially better?

    gotta write that to him some day - he sems like a genuinely good guy.
  3. juanm macrumors 65816


    May 1, 2006
    Fury 161
    Yes, he seems like a good guy, aware of the impact large companies can make on the world, and willing to do his share -and more- to improve the future, but that starts by not hoarding money in tax havens and paying their taxes wherever they make business instead of using creative accounting.

    He's been making good steps in the right direction, let's see how far he goes.
  4. ejb190 macrumors 65816


    Giving away his own money is one thing. There is only so far he can go in giving away Apple's money. I would think the shareholders would have something to say about that.
  5. rdowns macrumors Penryn


    Jul 11, 2003

    How does one make the leap from Cook giving away his money to him giving away Apple's?
  6. ejb190 macrumors 65816


    I was referring to the neuances in the previous posts:

  7. thekev macrumors 604


    Aug 5, 2010
    Regarding the second one there, they have done other programs related to employees. Some companies do these things partly for PR reasons or to attract certain personalities to work there.
  8. obeygiant macrumors 68040


    Jan 14, 2002
    totally cool
    Dear Tim,

    All I really need is $250,000. Just enough to pay off the house and some credit card debt. PM me for my address.

    Yours truly,

  9. DonJudgeMe macrumors regular

    Feb 21, 2014
    This is definitely the most efficient way to avoid some serious taxes. ;)Good for him. There are not many genuinely selfless and fortunate humans in the world. He certainly 'walks the walk.'
  10. burne macrumors 6502


    Jul 4, 2007
    Haarlem, the Netherlands
    Working for the Apple production line at Foxconn is one of the better things that could happen to you, as young Chinese. Good pay, good working times, clean, safe environment for Chinese standards. As a production line worker you earn between $400 and $800 per month. Minimum wage in China is $240. They cannot work more than 54 hours a week, have a free day on sunday, some payed holidays (don't know how much) and to make a clean hi-tech product your factory needs to be clean and highly automated, making for relative clean and safe workplaces.

    Compared to Silicon Valley it probably looks like modern slavery, however. Now compare it to a tin miner in Uganda, who earns $1-$5 a day for 14 hours of backbreaking, dirty and outright dangerous work.
  11. eko91 macrumors regular

    Apr 3, 2015

    Props to Tim cooks!! Sort of like Bill Gates! Doesnt he donate most of his money and doesn't even plan on giving any percentage to his children?
  12. MrSmith macrumors 68040


    Nov 27, 2003
    Yay, Apple! A 9-hour day, 6 days a week. At least I presume you were being sarcastic. Better than being a slave, sure.
  13. burne macrumors 6502


    Jul 4, 2007
    Haarlem, the Netherlands
    I'm not being sarcastic. Perhaps you should broaden your view a bit. The two-day weekend is just barely over a century old, if you happened to work for that particular mill in New England. Your great grandfather got the sunday off because it was a religious requirement, otherwise he would have worked seven days a week, from dusk to dawn, which is half the year over 100 hours working per week. This particular mill gave everybody two days off so the Jews could celebrate their sabbath as well. Some leftist sloppy socialist mill-owner.

    You think slavery is something of the past? There's been never more slaves ever in human history than today.

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