Apple Inc. CEO Tim Cook has talked about his promises to donate his entire wealth to charity and his disappointment with the new anti-gay law passed by the State of Indiana. Cook said that he would keep money only to pay for the college education of his nephew. Apart from that, he said that he would be giving away the rest of the hundreds of millions of dollars from his personal wealth to charity. Reportedly, Cook’s wealth is on the verge of crossing a billion dollars.
Cook is an addition to the growing list of top business executives who have chosen to donate their fortune to charity. Bill Gates and Warren Buffett in 2010 had jointly launched a campaign named – The Giving Pledge. The campaign tried to persuade other billionaires to donate at least 50 percent of their wealth to philanthropic causes. Close to a hundred people have signed up for the cause and agreed to donate at least half their wealth.
Facebook’s Mark Zuckerberg and former Mayor of New York City and business magnate Michael Bloomberg have signed up for The Giving Pledge. Other top business executives from around the world chose to donate in their own way. Jack Ma, co-founder of Alibaba, is one such executive who has started another billion dollar charitable foundation.
Cook took over as the CEO of Apple Inc. after Steve Jobs resigned in 2011. It has been reported that his total net worth could be close to a billion dollars at the moment. This includes his salary at Apple Inc. which as per a regulatory filing rose by 100 percent in 2014 reaching $9.2 million. He is expecting a staggering $536 million in stock awards apart from the $145 million he received when he vested his stock awards last year. Cook is the only CEO of one of the 700 biggest corporations to have publicly stated his sexuality. He said in a statement to media that the fact that he is gay was considered a ‘yawner’ or extremely boring within Apple Inc. and among its workforce. Apple Inc. CEO Tim Cook has talked about his promise to donate his entire wealth for various philanthropic causes and his disappointment with the new anti-gay law passed by Governor of Indiana, Mike Pence.
The Governor signed the new anti-gay law Thursday, under a media black-out and later termed it as a win for ‘religious liberty’. Cook tweeted Friday, March 27, that he is deeply disappointed in Indiana’s new anti-gay law. He mentioned that Apple Inc. is open for everyone irrespective of their caste, creed, color, race, religion, gender, or sexuality. He also tweeted that the global organization makes an extra effort to make sure that it treats every single one of its customers and employees equally.
There are two Apple Inc. stores in the State of Indiana. They are both located in shopping malls in the cities of Mishawaka and Indianapolis. Other businesses have also spoken out against the new law stating that it would make it difficult for them to hire employees and attract customers. Apple Inc. CEO Tim Cook has discussed his plans to donate his entire wealth to charity and his big disappointment with the new anti-gay law passed in Indiana.
By Ankur Sinha