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Tim Cook to Donate His Wealth to Charity After Covering Nephew's College

Image: Tim Cook to Donate His Wealth to Charity After Covering Nephew's College

By    |   Friday, 27 Mar 2015 07:17 AM

Tim Cook, Apple's chief executive officer, told Fortune magazine this week that he plans on donating his wealth to charity after paying for his nephew's college education.

Cook, who has taken public stands on stopping the spread of AIDS, human rights issues, and immigration reform, told the magazine that he sees philanthropy as a chance to show leadership.

"You want to be the pebble in the pond that creates the ripple for change," he said.

Cook's net worth is about $120 million, and he also holds restricted stock worth $665 million if it were fully vested, Fortune noted.

"To Cook, changing the world always has been higher on Apple's agenda than making money," wrote Fortune's Adam Lashinsky. "There should be plenty left over to fund philanthropic projects."

"Cook says that he has already begun donating money quietly, but that he plans to take time to develop a systematic approach to philanthropy rather than simply writing checks," Lashinsky continued.

The Apple CEO appeared to be following in the footsteps of billionaire Warren Buffett, who has pledged to give away his fortune and encourages others — like Microsoft's Bill Gates, Facebook's Mark Zuckerberg, and Oracle's Larry Ellison — to do the same through his "Giving Pledge."

"Cook, who is not listed on the website, is known as an intensely private person who shuns the spotlight on philanthropy," Reuters reported. "In recent years, however, he has begun speaking out more openly about issues ranging from the environment to civil rights. Cook, who recently revealed he was gay, spoke out against discrimination of the lesbian, gay, bisexual, and transsexual communities during his induction into the Alabama Academy of Honor last year."

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Tim Cook, Apple's chief executive officer, told Fortune magazine this week that he plans on donating his wealth to charity after paying for his nephew's college education.
tim cook, donate, wealth, charity, apple
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2015-17-27
Friday, 27 Mar 2015 07:17 AM
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