Apple CEO Tim Cook Plans To Donate All His Wealth Says Magazine
Apple CEO Tim Cook is planning to donate all his fortune to charity, according to reports.
Fortune magazine cited Cook as saying that he planned to donate his estimated $785 million fortune to charity - after paying for his 10-year-old nephew's college education.
"You want to be the pebble in the pond that creates the ripples for change," Cook told the magazine.
The 54-year-old CEO's revelation in Fortune's lengthy profile of him is an example of the increasingly public philanthropy of the world's richest people, Reuters noted.
Billionaire financier Warren Buffett is encouraging the very wealthy to give away at least half their worth in their lifetimes through the "Giving Pledge," whose website lists such luminaries as Microsoft Corp's Bill Gates, Mark Zuckerberg of Facebook Inc and Oracle Corp's Larry Ellison.
Cook succeeded Steve Jobs as Apple CEO three years ago. He has been a vocal supporter of human rights and racial and gender equality.
Last year he made history by coming out as gay. He is the first openly gay CEO of Fortune 500 company. "To be honest, if I would not have come to the conclusion that it would likely help other people, I would have never done it. There's no joy in me putting my life in view," he said on his decision to come out.
