Tim Cook

SOURCE OF WEALTH: Apple

OVERVIEW: In 2015, Cook pledged to give all of his Apple stock, valued in the hundreds of millions, to charity. Publicly, however, he maintains a low profile and it is difficult to know the specifics of his personal philanthropy. Since Cook took the helm at Apple in 2011, the company has become far more philanthropic than it was under Steve Jobs, instituting a number of giving programs. Cook, who is openly gay, is known to be outspoken on key social issues and on the need for more corporate social responsibility.

BACKGROUND: After earning a bachelor's in industrial engineering and an MBA from Duke's Fuqua School of Business, Tim Cook took a job at IBM, where he would stay put for more than a decade. Following a short stint at Compaq, Cook accepted a job at Apple in 1998 and played a key role in the company's dramatic comeback. When Steve Jobs died in 2011, the company appointed Cook CEO.

APPLE PHILANTHROPY: Whereas Jobs slashed charitable programs as the leader of Apple, Cook put philanthropy on the company's agenda. Within weeks of taking the CEO position, Cook introduced Apple's charitable matching program, which matches employee contributions of up to $10,000. Since the program's inception, it has donated more than $150 million to organizations such as Charity: Water, (RED) and Stanford University Hospitals. In 2017, the heft of Apple's contribution to (RED) was acknowledged: “Apple is the world’s largest corporate donor to the Global Fund, contributing more than $130 million as part of its partnership with (RED),” said Deborah Dugan, (RED)’s CEO. During Cook’s tenure, Apple has also donated millions to nonprofits that promote diversity in the tech industry. In 2020, the company’s employee giving program raised about $600 million and supported more than 34,000 organizations globally, including the British Red Cross’s Miles for Refugees program, Caritas of Austin and Cupertion’s West Valley Community Services. Additionally, Apple’s Racial Equity and Justice Initiative has given more than $200 million to support education, economic growth, and criminal justice organizations.

PERSONAL GIVING: The extent of Cook’s personal grantmaking is difficult to ascertain, but some gifts can be identified. In 2015, Cook donated 50,000 of his Apple shares, worth $6.5 million, to an undisclosed charity. Cook also made some investments in for-profit businesses with social missions. In 2015, he invested in scaling the production of a newly developed water-efficient shower head, although the amount was undisclosed.

LOOKING FORWARD: Cook's public record of public giving has been pretty sparse, but he is likely making private donations.