Apple CEO Tim Cook donates $100 million to charity

Apple's CEO announces that he spent $100 million of Apple's money on charitable giving--something Steve Jobs would not have done.

Apple CEO Tim Cook might just be taking some tips from Bill Gates --last week he announced he donated $100 million to charity, according to The Verge.

Tim Cook
Apple CEO Tim Cook Josh Lowensohn/CNET

Cook made his announcement during an internal town hall meeting celebrating Apple's successful fourth quarter.

According to The Verge, Cook said $50 million had been donated to Stanford's hospitals, with $25 million for a new main building and $25 million for a new children's hospital. Another $50 million has been donated to Product RED, which is a charity that combats diseases such as AIDS, tuberculosis, and malaria.

Since becoming Apple CEO, Cook has differed from his predecessor Steve Jobs on a few issues, including charitable giving. Jobs was not known for philanthropy and had even said he opposed giving away money.

Cook, on the other hand, has started giving his employees big discounts on Apple products and has also instituted a company-wide charitable program that matches donations made by employees up to $10,000 a year.

This comes days after fallout from an investigative article in The New York Times about hazardous working conditions in a Chinese factory that manufactures Apple iPads. Cook responded to the article saying, "We care about every worker in our worldwide supply chain. Any accident is deeply troubling, and any issue with working conditions is cause for concern. Any suggestion that we don't care is patently false and offensive to us."

 

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