Sam Oliver
Apple chief executive Tim Cook has revealed plans to donate the vast majority of his wealth to charity before he dies, saying that he wants to develop a "systematic approach" to philanthropy.
Including both vested and unvested shares of Apple, Cook's net worth currently hovers near $1 billion, according to Fortune's Adam Lashinsky. Cook will contribute substantially all of those funds to charity, after setting aside a small amount to fund his nephew's education.
Cook's pledge follows similar vows from many other technology luminaries, led by Microsoft founder Bill Gates. Gates has given away nearly $30 billion thus far, and the $42 billion endowment of the Bill & Melinda Gates Foundation puts it among the richest and largest philanthropic organizations in the world.
Late Apple cofounder Steve Jobs was known to take a more private approach to philanthropy, giving money anonymously or declining to be named. Jobs contributed some $50 million to Stanford Medical Center, for instance, but the gift remained unknown until after Jobs's death.
It remains unclear whether Cook will seek to partner with people like Gates — as investor Warren Buffet has done — or if he will choose to endow a foundation of his own.
William Gallagher
Christine McKee
AppleInsider Staff
Chip Loder
Malcolm Owen
111 Comments
Since he has no close family that I've heard of, 'spouse' or bothers/sisters, cannot say this would come as a surprise.
helluva a leader, and a man. he's built up the biggest, most successful tech firm in history, and hes going to give away his personal fortune earned for doing so. who on earth could criticize or question his abilities? find out!
Awesome! Way to go Tim, and great job setting a selfless example for others.
Cook will contribute substantially all of those funds to charity, after setting aside a small amount to fund his nephew's education.
"Small amount" probably = a few million or tens of millions. Good for him! :)
Since he has no close family that I've heard of, 'spouse' or bothers/sisters, cannot say this would come as a surprise.
nonsense. it is not the normal, default expectation that old rich guys will give away their billion-dollar fortunes, single or otherwise. further, he evidently does have family, which i for one have no clue about and suspect you dont either. lastly, he's certainly young enough to marry before death.