Trump gets gold, America gets jobs: Tim Cook unveils $100 billion Apple investment after flashy gift

Apple CEO Tim Cook surprised U.S. President Donald Trump with a special gift before announcing a major $100 billion investment in American manufacturing.

During a press conference at the White House on Wednesday (local time), Cook handed President Trump a unique glass box with a 24-karat gold base. The box was engraved especially for Trump and made by a former U.S. Marine who now works at Apple.

“This box was made in California, and this glass comes off the line. It's engraved for President Trump. It's a unique unit of one,” said Cook. “It was designed by a U.S. Marine Corps corporal, a former one who works at Apple now. Designed it for you. And the base comes from Utah and is 24-karat gold.”


Shortly after presenting the gift, Cook announced Apple’s plan to increase its investments in the United States to $600 billion over the next four years, up from the $500 billion committed earlier this year.

This includes an additional $100 billion announced on Wednesday.

Cook said Apple would now only use rare-earth magnets made in the U.S. for its devices. These parts will be produced by MP Materials, the only fully integrated rare-earth supplier in the country.

“This year alone, American manufacturers are on track to make 19 billion chips for Apple in 24 factories across 12 different states,” Cook said. “We’re also committed to buying American-made, advanced rare-earth magnets developed by MP Materials, which will be used in Apple devices shipped all over the world.”

As part of the partnership, MP Materials will expand its main facility in Fort Worth, Texas. Apple will also help develop a new rare-earth recycling line in Mountain Pass, California.

Earlier this year, Apple had announced it would hire 20,000 workers across the U.S. over the next four years. The increased investment is also seen as a smart move to avoid higher tariffs that President Trump has introduced on many imported goods.

Inputs from ANI