Tim Cook has revealed his plans for using his massive wealth accumulated over the years for charitable causes. Head over the jump for more details on this development.
Apple’s CEO is planning to join the roster of the very rich who are giving away their wealth to various causes, and being featured as the 25th most powerful man in the word, there’s no reason why Cook cannot share a bit of his fortune which has been estimated to be at $785 million U.S. dollars.
In an interview to Fortune, Cook was pretty candid about donating his fortune to charity and said, “You want to be the pebble in the pond that creates the ripples for change.” He further suggested that he would first want to take care of his nephew’s college fees, but given his multi-millionaire status, it wouldn’t make much of a dent in his fortune. According to Fortune, Cook’s net worth based on his holdings of Apple stock is at about $120 million, and that the Apple CEO also holds restricted stock worth $665 million if it were to be fully devolved.
However, instead of just making donations to some cause, Cook is also looking towards philanthropy in order to make a more deeper impact on different issues, and where Cook has been an intensely private person, he has begun speaking up openly about issues which range from environment to civil rights.
Cook has told Fortune that he has started donating money to unspecified causes but has remained quiet about it. Apparently, the CEO is trying to develop a systematic approach to the whole philanthropy move, something that his predecessor – Steve Jobs – was quieter about, and even widely criticized for. It was later revealed by his wife after his death that the family had actually donated millions of dollars anonymously for over two decades.
Cook has not revealed what his philanthropy plans actually are, but it is likely that it could be something similar to Bill Gates’ approach, where Microsoft’s co-founder started the non-profit Bill & Melinda Gates Foundation which has been looking after all of Gates’ philanthropic endeavors.
Thoughts on the news?
(Source: Fortune)
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