Tim Cook Donates 50,000 Apple Shares, Worth $6.56 Million, to an Undisclosed Charity
According to a filing with the U.S. Securities and Exchange Commission (SEC) that was posted on Friday, Apple CEO Tim Cook has donated 50,000 shares of Apple stock to an unspecified charity.
The donation is equivalent to approximately $6.56 million and shows a glimpse of philanthropic activity that is rarely seen with company executives.
According to the filling, Cook’s donation was executed on Thursday. The Apple CEO is required to disclose movement of owned shares, however, Cook was not required to publicly report the transaction’s recipient.
Cook has been an active proponent of giving since he took the reins at Apple. In March, Cook said that he plans to give a bulk of his fortunes to charity.