Is this joke inappropriate?

I was in a long meeting (running for more than 2 hours at this point) and my manager asked everyone to: "Tell a joke to soften the mood". When it was my turn I just told the first joke that I could remember, which was: "A couple of years ago, the Apple CEO announced that he was gay. The very next day, the Samsung CEO announced he was twice as gay as the Apple CEO and waterproof". As soon as the meeting ended, my manager asked for a 1 on 1 call and told my joke was inappropriate, sexual in nature and could have offended some people. I said that I was sorry, that wasn't my intention and wouldn't do this again.

Now, I know the joke isn't very funny, but is it inappropriate?

Edit: Just to clarify, some people asked: "Why didn't you change the word gay to something like diabetic or skinny?" The reason is that Apple CEO Tim Cook is openly gay, so the first part of the joke is a statement of a fact.

Edit2: "Are you from Florida?" No, I am not from the US, English isn't my first language and I work remotely for a US company.