September 4, 2012, 10:28 am
Under new chief executive Tim Cook, Apple is breaking with past policy and making big charitable donations, but the tech giant still ranks well below several other major corporations in terms of giving, according to the New York Post.
Sources close to the company confirmed to the newspaper that Apple donated $50-million each last year to Stanford University hospitals and to the African aid charity Project Red. Mr. Cook had reportedly disclosed the donations to Apple staff at an internal meeting in January.
Billionaire Apple founder Steve Jobs, who died last year, was criticized in some circles for a lack of public giving, either corporate or personal. The $100-million in gifts would rank Apple, the world?s most valuable company, no higher than eighth in 2011 corporate philanthropy, far behind companies such as Wal-Mart and Exxon Mobil.
See The Chronicle of Philanthropy?s report on 2011?s top corporate donors.
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