Want to keep the TNW Conference vibe going?? Tickets for TNW2022 are available now >>

The heart of tech

This article was published on January 25, 2012

Steve Jobs on charity: Encourage shareholder donations by increasing Apple’s value

Steve Jobs on charity: Encourage shareholder donations by increasing Apple’s value
Jon Russell
Story by

Jon Russell

Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on T Jon Russell was Asia Editor for The Next Web from 2011 to 2014. Originally from the UK, he lives in Bangkok, Thailand. You can find him on Twitter, Angel List, LinkedIn.

Last year new Apple CEO Tim Cook made a move that probably went unnoticed by the majority of Apple customers. It may not have been a new version of the iPad or iPhone, but Cook’s decision to establish a charitable donations program for Apple employees was a big deal.

His predecessor would never have supported such a proposal, which made it the marked first move away from the Jobs-era and into Cook’s tenure.

What’s interesting about the subject is Jobs’ own opinion on the charitable giving, which has been brought to light following the release of ‘Inside Apple’, a book by author Adam Lashinsky. As 9to5mac reports, the book details Jobs’ take:

Jobs was notoriously stingy when it came to giving away money. He argued privately that the most philanthropic action Apple could take was to increase the value of the company to share-holders could give away their wealth to causes of their choice, not Apple’s.

Cook’s move has borne fruit as the company has matched more than $1.3 million put up by its employees for charitable causes, as was revealed in November, just two months after the program was introduced.

The initiative, which matches employee donations up to $10,000 per year, was initially launched in the US and is likely to begin expanding to other locations this year.

[Image via Flickr user acaben]