Thursday, October 6, 2011

Steve Jobs And Public Giving

In light of the passing of Steve Jobs yesterday, I thought I would bump this post.  The world truly lost a visionary in his passing.  He will be missed.

Unless you've been living under a rock, you are probably aware that Steve Jobs recently announced his resignation as CEO of Apple.  Jobs leaves behind an impressive legacy at Apple, with products like the iPhone and iPad revolutionizing our society.  He also has accumulated a great deal of wealth, nearly $8.3 billion through his shares in Apple and Disney.  Yet, as The New York Times reports, there is no public record of Jobs ever giving money to charity.

Millionaires are often at the forefront of philanthropic activities.  Bill Gates is well known for his work in philanthropy, and Warren Buffett has gotten many billionaires to sign a so-called "Giving Pledge."  The NYT piece examines why Jobs has never been involved in the philanthropic sector, at least publicly, but it came away with few answers.  The article mentions that Jobs did create a foundation in his name in 1986, but closed it after a year.  There has also been speculation that he has been hesitant to give because he has been focused on expanding Apple and dealing with his declining health. 

Given his somewhat private nature, it is possible that Job has given anonymously.  The Times article mentions that there has been speculation that a $150 million donation to the Helen Diller Family Comprehensive Cancer Center came from him.

To read the full article on this subject, head on over to The New York Times.

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