1. Apple Inc CEO Tim Cook to give his wealth away: Fortune

Apple Inc CEO Tim Cook to give his wealth away: Fortune

Apple Inc Chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate...

By: | San Francisco | Published: March 28, 2015 1:14 PM
Apple Inc, Apple Inc CEO, Apple Inc Tim Cook, Tim Cook, Tim Cook wealth, Facebook, Mark Zuckerberg, Bill Gates

Tim Cook plans to give away his entire fortune, after setting money aside to pay for a 10-year-old nephew’s college education. (Reuters)

Apple Inc Chief Tim Cook is joining Mark Zuckerberg, Bill Gates and other technology titans who have vowed to donate their wealth to charities, according to a report in Fortune magazine.

“You want to be the pebble in the pond that creates the ripple for change,” Cook was quoted as saying in a Fortune story focused on how he has brought his own winning style of leadership to the iconic California company more than three years ago.

Cook plans to give away his entire fortune, after setting money aside to pay for a 10-year-old nephew’s college education, according to the Fortune article available online Friday and to appear in a printed version of the magazine due out at the start of April.

His net worth was estimated at about USD 120 million, based on the amount of Apple stock he owns. Cook also owns restricted shares that could be worth USD 665 million if they become fully vested.

Cook told Fortune that he has been donating money discreetly, but intends to adopt a more systematic approach.

He did not specify causes he might target. Cook has spoken out on issues including civil rights, AIDS, immigration reform, and protecting the environment. Cook, 54, last year became the first openly gay chief executive of a Fortune 500 company.

Reach for comment, Apple said Cook had nothing to add to what was published in Fortune. Changing the world is a higher priority than making money at Apple, Cook said in the article.

A Giving Pledge movement launched by billionaires Warren Buffet and Gates urges the world’s richest people to give the majority of their wealth to philanthropy.

Those taking part in the pledge include Facebook co-founder Zuckerberg, Oracle founder Larry Ellison; and powerhouse Silicon Valley venture capitalist John Doerr, according to the givingpledge.org website.

  1. George Kafantaris
    Mar 28, 2015 at 4:53 pm
    No need to deem Christ godly in order to consider his advice on living. BE HUMBLE: This is a smart way to live since tooting our own horn never works. Pride is still the cancer of the self ruins the life of man. SHARE WITH OTHERS: After our living expenses are paid, we should share with those less fortunate. We can't take it with us, and it will spoil our kids if we leave it with them. Why not give it away to those we deem worthy, and while we still have our wits about us. BE TOLERANT: This is the hallmark the learned man, the one with a wealth of life experiences. After all, nobody is all bad or all good -- in between lies humanity. But we'll never see it if we don't look there. Indeed, this is where Christ looked to find his flock. TURN THE OTHER CHEEK: When we are wronged, revenge won't make it right -- though it can make it feel better. But the revenge will also perpetuate the wrong, and from generation to generation. Why not fight the urge to retaliate by turning the other cheek. Indeed, this is the only effective way to stop it -- there and then, and with us. LOVE YOUR NEIGHBOR: Yes, let’s love our strange, filthy, unworthy neighbor as we love ourselves. He could use our understanding and help, though he may not deserve it. He's our brother -- unconditionally. And we are our brother's keeper.
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