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Tim Cook: Apple donated $50 million to hospitals, $50 million to Project(RED)
Apple has reportedly donated $50 million to Stanford University hospitals as part of its recent philanthropic strategy shift. The numbers were revealed during Apple's recent Town Hall meeting with employees, according to sources speaking to The Verge, with $25 million each going to a new main hospital building and a new children's hospital.
Apple often holds Town Hall meetings following major announcements or at the end of a particularly successful quarter in order to bring employees up to speed on the company and keep morale high. In this case, Apple CEO Tim Cook hosted a Town Hall meeting immediately following the announcement of the company's first quarter 2012 results, which Apple described as the "highest quarterly revenue and earnings ever."
According to The Verge, a decent chunk of the meeting was spent discussing the new philanthropic efforts introduced by Cook after he took Steve Jobs' place as CEO. In an e-mail to employees last September, Cook said the company would begin matching employee donations to nonprofits up to $10,000 annually—a stark change from the Jobs-era Apple that appeared to rank charitable donations as a low priority. One thing Jobs did focus on, however, was Apple's participation in the consumer-facing Product(RED) program aimed at AIDS education and research. On that front, Cook apparently told employees that Apple has given more than $50 million to that effort as well since the beginning of the partnership in 2006.
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