#Apple CEO Tim Cook pledges $100 million toward racial justice

Apple Chief Executive Tim Cook said on Thursday the iPhone maker will increase spending with black-owned partners in its supply chain and seek to increase minority representation among the firms it does business with.

Cook made the remarks in a video posted to Twitter announcing a $100 million racial equity and justice initiative in the wake of the May 25 death of George Floyd in Minneapolis.

Other moves will include programs to foster black application developers and new initiatives to increase diversity and inclusion within Apple, Cook said.

Cook’s initiative follows a number of other corporate efforts to fight racism.

On Wednesday, Goldman Sachs announced its own $10 million fund to promote racial justice.

A day earlier, Morgan Stanley CEO James Gorman announced that the Roger Floyd murder moved him to make sure black employees had equal opportunities at his bank.