Apple CEO Plans To Donate His Fortune To Charity

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Why not donate your money to charity? I mean, it's not like you can take it with you.

Tim Cook has big plans for his vast wealth: It's all going to philanthropy, he revealed in a Fortune interview. The Apple CEO -- who's currently worth around $112 million, and holds restricted stock that could be worth up to $665 million -- said he's already been making donations quietly, but he's also looking forward to taking a deeper approach to the whole endeavor.
 

schizrade

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A lot of super rich Westerners do this. I mean seriously, WTF can you do with all that money?
 

sfsuphysics

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Does he not have any kids? But yeah, even with kids passing down that level of money quite a bit of it is going to get taxed away, so why not give it to charity.
 

TeeJayHoward

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A lot of super rich Westerners do this. I mean seriously, WTF can you do with all that money?
No kidding. But apparently, the answer is "A whole hell of a lot of good." (The Bill & Melinda Gates Foundation, for example)


Certain problems just can't be tackled without extreme resource devotion. The more multi-millionares who do this, the better off the human race as a whole is. Kudos, Tim Cook.
 

Youn

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Not good enough... to make me buy apple products :p
 

kbrickley

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On the other hand all that money could have paid more "living wages"...

Apple employees are generally pretty well compensated (just as Google, Facebook, and other Silicon Valley workers are) ... as to the wages of Foxconn or Pegatron workers, those are not under the direct control of Apple (or any of the other companies that use them) ;)
 

mi7chy

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This is just a PR gimmick to mask the labor and environmental violations, bankrupting American companies to transfer technology to China to produce for less, cheapening out on quality to increase profit, etc. Timing is suspicious too since they're announcing it when business is down from competition offering a better product.
 

dr.kevin

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I wouldn't donate anything to charity because I want my kids' kids' kids to squander it all on stupid shit.
 

Megalith

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Nice publicity stunt. We all know Apple associates don't give a shit about anybody.
 

Ducman69

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Think about that for a sec.
Its been fashionable for years for rich white people to adopt kids from a third world country, gay or not. So he could still certainly have "had" kids.

But yes, he is going to lose his fortune one way or another, and by donating it to charities, he has control over what that money promotes rather than the government taking it and it goes to things he may hate.

So the only altruistic aspect will be about how much money he blows before he dies. A really selfish guy that can reasonably guess how much longer he'll live could blow it all, but he'll surely end up with some reserve since he can't plan whether he'll die at 75 or 115.
 

Youn

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I think he did but decided it wasn't a good idea to flaunt it
 

steakman1971

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Well, Steve Jobs had a wife & kids. I doubt they wanted to have Steve give it all away when he passed.
Not defending him though - he did not donate much money according to the biographies. Maybe a few quiet donations.
 
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