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Apple CEO Tim Cook to donate his fortune to charity
- bshimmin 12y agoThe headline here has "entire" in it - on CNN it does not. Makes quite a difference!
- gleenn 12y agoPerhaps CNN is actually being pedantic, be will be paying for his nephew's college education first, and then the rest to charity.
- forrestthewoods 12y agoCNN made a story out of something from Forbes, but what exactly isn't cited. Nor does it appear to be available online. Maybe it's print only. Suffice to say there's not enough information to say anything definitively. It's not like Tim is paying for his nephew's college next week and then donating everything to charity. One could reasonable expect this to be in reference to his fortune when he dies. Not what happens next week. But we don't know because all we have is a blog spam re-write of something we can't see.
- m_eiman 12y agoThe Forbes text is here: http://fortune.com/2015/03/26/tim-cook/ http://fortune.com/2015/03/26/tim-cook/ It's linked from the CNN piece.
- prostoalex 12y agoThey're just pessimistic on the college tuition inflationary trends by the time the kid grows up.
- janlukacs 12y agodoes it really matter?
- sctb 12y agoThanks, we updated the title.
- altern8 12y agoOops, my bad!
- briandear 12y agoInteresting that the article mentions his orientation. Seems irrelevant to the premise of the story.
- Rapzid 12y agoI don't believe it is that interesting. New stories often contain information that does not directly pertain to the headline..
- briandear 12y agoYes but why THAT? Does that have any relevance at all? It doesn't affect the business or have anything to do with charitable giving. Might as well mentioned his favorite restaurant or his dietary habits. He's not a "gay CEO" he's a CEO who happens to be gay. It has zero news value.
- rmxt 12y agoSorry, but favorite restaurants or dietary habits aren't likely a cause for discrimination or divisiveness in the corporate world, unlike sexuality. That's definitely a distinction of note. Yes, his sexual orientation is not strictly relevant to the issue at hand, but it provides context to his unique combination of position (head of a massively successful company) and personal story (sexuality). News articles generally try to toe the line between giving specific details for the informed reader, and giving general backdrop for those uninformed but seeking to learn more.
- Cyph0n 12y agoAgreed.
- justzisguyuknow 12y agoIt amused me that the 2nd-to-last paragraph of the article describes him as the only openly gay CEO in the top 700 companies, and the "Related" link headline just below it declares "Tim Cook isn't the only gay CEO!". http://i.imgur.com/Y21pFxc.png http://i.imgur.com/Y21pFxc.png
- vayarajesh 12y agoThe world needs more CEOs like him. The CEOs of the largest companies of the world have the power to really change the world by just donating the money. Not everyone "can" or "afford" to think of rest of the world because they are to0 helpless to give away the money instead of making ends meet. It is really difficult to fill the shoes of Steve Jobs and get out of the shadow, and not only he has maintained the dignity of what apple is but Tim Cook has certainly made a name for himself and it is very nice to hear that we have such good people in this world. It makes me fall in love with Apple more. #Respect
- peter303 12y agoIts unclear why Steve was indifferent to charity. Maybe he did some stuff, but didnt brag about it? Maybe he felt too busy. His widow is tarting disperse money to educational charities.
- hnnewguy 12y ago>The world needs more CEOs like him. It makes me fall in love with Apple more. Did you read the article, or just the headline? There are more CEOs "like him". "More than a hundred" have signed up to give away their wealth to charities, including Bill Gates, who started the pledge along with Warren Buffet. Of course, around here Bill Gates eats vitriol, because of some business practices in his history and despite his generosity and charity work. Meanwhile, Apple openly conspired to keep industry wages low and gets "#Respect"? This is not to take away from what Mr. Cook has decided. It's great for the world. But let's not put him on a pedestal without at least acknowledging there are a slew of wealthy individuals doing this, some of them real pioneers of the idea. https://en.wikipedia.org/wiki/The_Giving_Pledge https://en.wikipedia.org/wiki/The_Giving_Pledge
- vayarajesh 12y agoYes I have read the whole article.. by the "The world needs more CEOs" I mean is that hundreds is not enough to change the world, There are more then 2 Billion people in the world who are below the poverty line and more and more CEOs like Tim Cook and Bill Gates etc. can contribute much more collectively.
- heavymark 12y agoThis post says Entire which doesn't make any sense unless he means when he dies. But upon reading the actual article it doesn't mention anywhere "entire".
- timepiece 12y agoDo LGBT orgs count as charity in his definition?
- feld 12y agoI don't understand what (or why) you're asking
- wmeredith 12y agoThere are a variety of non-profits that serve the LGBT community.
- tiempopedazo 12y agoIn my book, LGBT orgs are political and don't get to be classified as charity.
- wmeredith 12y agoWhelp, thanks for sharing. Not sure that matters much in this situation.
- snowwrestler 12y agoThis comment is a good example of why there are LGBT orgs.
- ceejayoz 12y agoThe Trevor Project, as an example, aims to reduce suicide in LGBT youth. If "encouraging kids not to kill themselves" is a "political" act to you, I really don't like your politics.
- tiempopedazo 12y agoSaving kids will always be a noble act but you got to ask who's brainwashing these kids in the first place and distorting their perception to recruit and evangelize among them and to advance their political agenda?
- TestSnap 12y agoActually, the world needs more people who think beyond their own family legacy and consider what the world needs. Its interesting how you can look at people today (via the media) and size them up as far as if they feel they are a citizen of the world. Tim Cook clearly sees himself that way. The Koch Brothers...not so much.
- unchocked 12y agoExactly. Familial legacy is a pretty lousy use of fortunes that are better thought of as power rather than wealth (quantity has a quality of its own). To squander that kind of power on mere inheritance is at best myopic.
- humanrebar 12y agohttp://www.metmuseum.org/visit/plan-your-visit/plaza http://www.metmuseum.org/visit/plan-your-visit/plaza
- borgia 12y agoIsn't it interesting that it's seemingly only self-made millionaires/billionaires who are pledging the bulk of their self-made fortunes away? That despite them doing this, we're not seeing "old" money following suit?
- saryant 12y agoThe old money donated their money a long time ago. Been in a library? Carnegie probably paid for it.
- wavefunction 12y agoCarnegie was new money.
- arethuza 12y agoThe very modest wee cottage in Dunfermline where Carnegie was born is a museum: http://www.carnegiebirthplace.com/ http://www.carnegiebirthplace.com/
- Iftheshoefits 12y agoBill Gates is not a self-made millionaire, if that phrase is to have any meaning.
- briandear 12y agoWas he born a millionaire? Define 'self made.'
- Iftheshoefits 12y ago"Self made" defies precise definition. If you start with $999,999 and earn $1 by your own efforts, a strictly precise definition for "self made" would imply you were a "self made" millionaire. However it would also apply to somebody who started with $1 and earned $999,999 by his own efforts. Hence using "self made" in both cases renders the phrase so broad as to be empty of meaning.
- tracker1 12y agoI like seeing these sorts of actions... I do wish that more corporations simply operated a bit more even handed to begin with though. As an aside, I really wish there was a tag in the headline when auto-play video is in a link... I tend to open up several articles and the respective comments in tabs in the morning... the chrome indicator helps, but would be nice to know it was going to happen.
- Dewie 12y agoThis should be good for the Apple stocks.
- jbapple 12y agoOn page 263 of my large-print edition of the Isaacson biography of Steve Jobs, Jobs is quoted as saying about Bill Gates, "Bill is basically unimaginative and has never invented anything, which is why I think he's more comfortable now in philanthropy than technology". I don't know about you, but I'd rather be unimaginative than fabulously, unimaginably rich but also selfish about it.
- briandear 12y agoWas Jobs selfish? Or did he just not use his charitable giving as a means of self promotion or legacy building? Fair question. We're assuming facts not in evidence.
- adevine 12y agoI definitely don't see what Gates and Buffet are doing as "legacy building" - if they wanted to build a "legacy", they would create some self sustaining "family foundation" that acted more like a social club than a charity. Instead, they are explicitly stating they want to give most of their money away while they are alive and all of it shortly thereafter.
- icebraining 12y agohttp://www.folklore.org/StoryView.py?project=Macintosh&story=Handicapped.txt&characters=Steve%20Jobs http://www.folklore.org/StoryView.py?project=Macintosh&story...
- jbapple 12y agoI don't know what Jobs did with his money. I'm criticising his values, as described in this statement that clearly paints philanthropy as beneath him, to those of Cook. Maybe he gave money away even though he thought it was beneath him, but it's still disgraceful and loathsome to paint philanthropy as a pursuit of the small-minded.
- 7Z7 12y ago>..clearly paints philanthropy as beneath him.. Wow, I did not get that from the quote.
- mg1982 12y agoI don't understand the psychology of making billions of the backs of the grotesquely underpaid and over-worked masses (Foxconn suicides [1] and illegally mined tin [2] for example) and then turning around and saying 'oh, this is too much for one person - here, you have it.' If you want to help people or even just preserve the environment, why not start with what you have direct control and responsibility over in the first place. Fucking billionaires [https://youtu.be/iko4s3CfBi0?t=44s https://youtu.be/iko4s3CfBi0?t=44s] [1] https://en.wikipedia.org/wiki/Foxconn_suicides https://en.wikipedia.org/wiki/Foxconn_suicides [2] http://www.bloomberg.com/bw/articles/2014-02-13/apple-supply-report-acknowledges-its-smartphones-and-tablets-rely-on-smelters-using-illegally-mined-tin http://www.bloomberg.com/bw/articles/2014-02-13/apple-supply...
- konmik 12y agoPeople will suicide if their families get money for doing that that. Stupid? Sure. There is no slavery on Foxconn plants, anyone can go away and grow some rice peacefully.
- _cipher_ 12y ago> There is no slavery on Foxconn plants[..] While it's not slavery in the traditional way, it sure is when you pay workers virtually nothing for a product that's overpriced. Think a situtation where you'd be an administrator for Amazon and you're getting $10/day just because you live in <x> country, while your other _only_ option is to - as you said - "go away and grow some rice". While this is a completely legal action, would you say that it's also ethical? But no, whenever a f*cked up situation is not near our own precious asses, it doesn't matter. They can go out and grow some rice.
- konmik 12y agoIf the average salary in my country would be $1 I would be happy to get that $10 from Amazon. I live in a country where average salary is about $500, I know what I'm talking about. And yes, if things will become really bad I will prefer to live in the village with my mother and grow potatoes rather than committing a suicide. :D
- brianbreslin 12y agoI am surprised that he isn't over a billion already. I guess the extreme wealth of a few founders makes me assume "CEO of largest company in the world worth 600B should be worth over a billion himself"
- iamgopal 12y agoI always dislike such news, not that philanthropy is bad, but to think a "charity" is more capable entity to handle such vast amount of money than CEO of biggest company is unthinkable. I would rather like to see them spending money on not-much-profit-but-mass-employement-generation business in third world country, or even just spend it how ever they like, which although will not generate same publicity, but overall, will be more helpful to the society. Do anybody feel the same ?
- xxcode 12y agoSorry if this is politically incorrect. I say this respectfully and with the hope that it would be useful to someone who reads it: People typically save money for their kids. The 'mothering' or 'fathering' instincts are so strong that we protect resources for our progenys. It appears that Tim Cook may never have a real progency. So what will he do with all this money? He could give it to his nephew. Maybe. He gets a thank you card from them. But his 'parenting' instincts are not triggered by it. So he has to do something else with it, like donating it to Charity.
- DINKDINK 12y agoAre you insinuating that he won't be having kids because of a weak correlator (his sexual orientation)? Why not use a better correlator, that he's the type of person that doesn't want kids?