Apple CEO Tim Cook has joined another club for the super wealthy – the philanthropy club. Which to be honest, is probably the best kind of club for the super rich.
In an interview with Fortune, Cook revealed that he plans to give all of his money to charity – well, pretty much all of it. After he pays for his nephew’s college, he says, the rest will go toward philanthropic goals.
From Fortune‘s profile:
Representing their companies publicly is obligatory for CEOs, but Cook takes public stands on issues including stopping the transmission of AIDS, human rights, and immigration reform. He sees them as opportunities for leadership. “You want to be the pebble in the pond that creates the ripple for change,” he says, adding that Apple’s people have long cared about such issues even if they haven’t previously spoken so openly about them. To Cook, changing the world always has been higher on Apple’s agenda than making money. He plans to give away all his wealth, after providing for the college education of his 10-year-old nephew. There should be plenty left over to fund philanthropic projects. Cook’s net worth, based on his holdings of Apple stock, is currently about $120 million. He also holds restricted stock worth $665 million if it were to be fully vested.
Cook joins a growing list of high-profile, incredibly wealthy business leaders who’ve decided to give most – if not all – of their fortunes to charity.
If you’re curious as to who else has pledged to give away the majority of their money, check out Warren Buffet and Bill Gates’ Giving Pledge website. There you’ll see names like Michael Bloomberg, Sheryl Sandberg, Reed Hastings, Carl Ichan, Elon Musk, Ted Turner, and Mark Zuckerberg.
Cook appears to be a very generous person.
