Tim Cook From Apple Joins The Super Wealthy That Are Giving Away Money

After Steve Jobs, Cook has led iphone development to a complete new level. Throughout his journey, he has managed to change the company’s culture making it more customer-centric. Cook has distinguished himself from Jobs in numerous ways.

Cook, who joined Apple from Compaq Computer in 1998, came from an operations background and had spent the formative years of his career at IBM. Following the footsteps of Microsoft co-founder Bill Gates, Cook plans to give away all his wealth once he pays the fees of his 10-year-old nephew’s college.

Tim Cook

“You want to be the pebble in the pond that creates the ripple for change,” Cook told the publication. Tim cook’s base salary at Apple is $1.75 million and his Apple stock holdings net worth is approximately $120 million. He also has restricted stock holdings that if fully vested could be worth about $665 million. Under the reign of Cook, Apple raised and progressed financially. Its stock has soared from a split-adjusted $54 to a recent $126 since Jobs died, translating into a market capitalization well north of $700 billion, the first company to cross that level.

Simultaneously, Apple’s cash hoard has tripled to more than $150 billion since 2010. Cook is known for his philanthropy. Unlike Jobs, Cook believes in charitable giving. All the Apple staff receives heavy discounts on buying Apple products. He has initiated a company wide charitable program that involves donations made by his employees up to $10,000 a year. Cook has also made a charity of $50 million to Stanford’s hospitals, including $25m for a new children’s hospital and another $50 million to disease prevention charity Product RED in 2012. Although, Cook isn’t listed on the website, he is brilliantly known as a private person who avoids spotlight on philanthropy.

Other wealthy entrepreneurs had previously made a mark in charitable donations including Warren Buffet and Mark Zuckerberg. Warren Buffett and Microsoft co-founder Bill Gates launched the Giving Pledge in 2010, which made an appeal to the billionaires to donate at least 50% of their wealth to donations. Tesla chief executive Elon Musk, former New York mayor Michael Bloomberg, Facebook boss Mark Zuckerberg and eBay founder Pierre Omidyar had all signed up. Though Cook may not have made donations worth billions of dollars like Zuckerberg or Gates, he believes that his fortune will definitely make some difference.

Tim Cook

Cook has publicly spoken about the importance of preventing HIV/Aids and climate change, also about championing human rights and equality but never mentioned about which causes he would ever support. However he declared that he had been doing charity quietly to develop a systematic approach rather than merely writing cheques.


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