Apple CEO Tim Cook has today vowed to give away the lion’s share of his personal wealth.
Speaking to Fortune magazine, the chief executive revealed he would one day donate his entire fortune to charity.
That’s no small change either; Tim Cook has accrued masses of capital during his time working at the world’s most valuable company.
In fact, his wealth is estimated to be in the region of $785 million, although his personal net worth is lower – around $120 million. The remaining $665 million is held in restricted stock.
The CEO has reportedly begun ‘donating money quietly’, but he wants to take time ‘to develop a systematic approach to philanthropy rather than simply writing cheques’.
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His statements come at a time when the trend of increasingly philanthropic, super-wealthy individuals appears to be growing.
US billionaire Warren Buffett has long encouraged the rich to give away at least half of their wealth, with Microsoft’s Bill Gates and Facebooks’ Mark Zuckerberg also having donated large sums of money from their personal coffers.
Cook hasn’t yet made clear which organisations will be on the receiving end of his cash, however.
Importantly, though, he did vow to pay for his 10-year-old nephew’s college education before he relieves himself of wealth entirely.