Apple CEO Tim Cook donated $5M to charity in late August this year. This is keeping in line with his annual donations to charity in August every year.
This was reported by the Securities and Exchange Commission (SEC) in a statement of change of ownership of shares. Cook donated 10,715 AAPL shares to charity. According to the SEC listing, the donation of ‘common stocks’ was executed on August 20. There was no sale of shares, and that’s why a specific price was not reported.
At end-of-trading on Monday, Apple’s shares were valued at $503.43, making Tim Cook’s donation roughly worth $5.4 million.
It is still unclear as to where Cook donated this amount, although his previous donations have been to various Human Rights Organizations. In an interview in 2015, Cook said that he had plans to give away a significant part of his wealth to charity.
After the donation, Tim Cook holds 837,374 shares of Apple worth $422 million.
When reported by the media, the news got a mixed response, with various individuals criticizing Cook for not disclosing the charities, and claimed that this was a move by the Apple CEO to claim a tax exemption.
This donation comes in addition to some previous ones made by Tim Cook this year. He made a large donation of $2 million to an undisclosed charity in the beginning of 2020 as well, and also aided the coronavirus prevention effort by donating 20 million N95 masks globally by April 2020.