CEO Tim Cook Gifts Nearly $5,000,000 USD Worth of Apple Shares to Undisclosed Charity
A new filing with the U.S. Securities and Exchange Commission has revealed that Apple CEO Tim Cook recently gifted 23,215 Apple shares – equal to about $5 million USD – to an undisclosed charity.
According to a new report from MacRumors, the SEC filing does not disclose the charity that Cook donated the shares to, as executives are not required to divulge that information.
As the shares were donated rather than shared, the filing did not report the transfer’s monetary value. However, the gifting of directly-owned company stock happened this week, putting the value in the region of $5 million USD, judging from Apple’s recent share prices.
Cook still controls 878,425 shares of Apple, which are worth a whopping $188,896,512 USD when combined. He also has lots of shares that haven’t vested yet.
In the past, Cook’s charitable donations have included “auctioning” off a lunch with himself. This helped him to raise about $689,000 USD for the Robert F. Kennedy Center for Justice and Human Rights, adding to the $610,000 that Cook had previously raised for the organization through a separate auction in 2013.
Tim Cook revealed his plans to give away his fortune to charity in a 2015 interview with Fortune in which said that he had already begun donating quietly, but plans to take time to develop a systematic approach rather than simply writing checks. He also said he plans to pay for his now-13-year-old nephew’s college fund before giving away all his cash.