Apple CEO Tim Cook 'plans to give away all his wealth'

Tim Cook intends to “give away all his wealth” after providing for his 10-year-old nephew, according to a new profile of the Apple CEO in Fortune.

Cook spoke to Adam Lashinsky extensively on a range of issues, including his outspoken support for a number of social issues. “You want to be the pebble in the pond that creates the ripple for change,” the CEO explained. To this end, once he has paid for his nephew’s college education, he intends to give away his fortune to philanthropic issues.

Lashinsky reports that Cook has a net worth of around $US120 million, in addition to restricted stock worth roughly $US665 million.

By making this promise, Cook follows in the footsteps of other high-profile philanthropists. In 2010, Microsoft cofounder Bill Gates and investor Warren Buffet launched the “Giving Pledge” — an appeal for American billionaires to give away at least 50% of their wealth to charity. Tesla Motors CEO Elon Musk, business magnate Michael Bloomberg, Facebook CEO Mark Zuckerberg and eBay founder Pierre Omidyar have all signed up.

Tim Cook has previously spoken about his affection for his nephew and his sense of social responsibility. “I have a nephew that I dearly love that’s 10, and when I look at him, and when I think of leaving a world that’s not as good as when I entered it, there’s no bigger sin than that,” the CEO told an audience at New York City’s Climate Week in September 2014.

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