Apple CEO Tim Cook Donates $10M In iPhone Maker's Stock To Undisclosed Charity

Apple Inc. AAPL CEO Tim Cook has donated more than $10 million in the iPhone maker’s stock to an undisclosed charity.

What Happened: Cook has donated a total of 70,000 shares in Apple on Friday, worth $10.4 million, based on Apple’s closing stock price of $146.70 from that day, according to a regulatory filing from Tuesday. Apple didn't provide further details on Cook's donation in the filing with the SEC.

Following the donation, Cook continues to hold 3.28 million shares in Apple, worth $490 million.

Why It Matters: Cook had similarly donated 10,715 Apple shares, ahead of the 4:1 stock split, on the same date last year.

Cook had said in 2015 that he plans to give away the vast majority of his wealth to charity, joining billionaires such as Berkshire Hathaway Inc. (NYSE: BRK-A) (NYSE: BRK-B) chairman Warren Buffett, Microsoft Corp. MSFT co-founder Bill Gates, and Facebook Inc. FB CEO Mark Zuckerberg, who have pledged to do so.

Buffett is the co-founder of the “Giving Pledge,” which encourages billionaire philanthropy. However, Cook is not part of the campaign.

Price Action: Apple shares closed less than 0.1% lower in Tuesday’s trading at $149.62.

Read Next: Report Card: How Has Tim Cook Performed As Apple CEO In The 10 Years Since Taking Over For Steve Jobs?

Photo: Courtesy of Austin Community College on Wikimedia

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