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Tim Cook plans to give his fortune to charity

by Jacob Kleinman | March 27, 2015March 27, 2015 10:00 pm PDT

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Since leaving his position as CEO at Microsoft, Bill Gates has focused much of his time on charity, working to cure diseases and improve quality of life in the developing world. Apple CEO Tim Cook has similar philanthropic plans.

A new profile of Cook in Fortune reveals plans to give all his money away. Apple’s CEO notes that he’s also promised to pay for 10-year-old nephew’s college fees. Everything else could go to a fund similar to the Bill and Melinda Gates Foundation.

Cook’s net worth is currently around $120 million, but he also owns restricted Apple stock valued at $665 million. He already makes regular smaller donations, and plans to take a more direct approach after gaining access to that stock. “You want to be the pebble in the pond that creates the ripple for change,” he told Fortune.

By comparison, Bill Gates net worth is valued at $79.3 billion, giving Microsoft’s founder the stature of a boulder next to Cook’s pebble. Even so, Apple’s CEO has the power to create great changes with that money, and we’re excited to see if his philanthropic career can match what he’s accomplished working at Cupertino.

Fortune

Jacob Kleinman

Jacob Kleinman has been working as a journalist online and in print since he arrived at Wesleyan University in 2007. After graduating, he took a...

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