On Friday last week, in filing with the Securities and Exchange Commission (SEC), Apple revealed that CEO Tim Cook has donated 50,000 Apple stock shares to charity. The share price at the time stood at around $130 per share, equating the donation to around $6.5 million. The donation was from Cook’s personal share ownership and not that of the company itself.
Although Apple did not disclose to which charity (or charities) Cook donated his shares to his previous personal donation was to Project One America, an LGBT equality campaign. The filing notes that Cook did not simultaneously sell any shares for his benefit. In related news, Apple‘s Senior Vice President of Hardware Engineering Dan Riccio sold 24,085 shares this week, which is equivalent to approximately $3.1 million at today‘s share price.
Since becoming CEO in 2011, Cook has promoted charity as a key part of Apple‘s mission. Upon taking over, Cook initiated an employee charity program. Cook has also held several lunches for charity on Apple‘s campus and has pledged to give away all of his money to charity over the course of the rest of his life. Apple has also expanded its offerings for employees to help their communities.
Source: 9to5Mac
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