Tim Cook Reveals What He'll Do With His Fortune

Apple's CEO will carve out some for his nephew, give rest away
By Arden Dier,  Newser Staff
Posted Mar 27, 2015 8:12 AM CDT
Tim Cook Reveals What He'll Do With His Fortune
In this Sept. 9, 2014, file photo, Apple CEO Tim Cook, holding an iPhone 6 Plus and wearing an Apple Watch, discusses the new products during an event in Cupertino, Calif.   (AP Photo/Marcio Jose Sanchez, File)

Before Tim Cook kicks the bucket—and after he sets aside enough money for his 10-year-old nephew's education—he plans to leave all of his wealth to charity. In an interview with Fortune, the CEO of Apple, which could soon become the world's first company worth $1 trillion, says he has already begun donating quietly. Why? "You want to be the pebble in the pond that creates the ripples for change," says Cook, who claims $120 million in Apple stock, plus $665 million in restricted stock. No word on which specific charities he would support, but Cook "plans to take time to develop a systematic approach to philanthropy rather than simply writing checks," Fortune notes. He has previously expressed his support for human rights and equality and described a need to address climate change and HIV/AIDS.

With Cook at the helm, Apple itself has been no stranger to philanthropy. In an early 2012 meeting, he reportedly touted the company's $50 million donation to AIDS/tuberculosis/malaria charity Product Red, as well as a donation in the same amount to Stanford hospitals, the Verge reported at the time. In the interview with Fortune, Cook, a fairly private guy, also touches on his decision to come out as gay last year, noting most people at Apple were aware of his sexuality and found the announcement to be a "yawner." But seeing kids bullied at school and employees fired over their sexual orientation tipped the scales. "To be honest, if I would not have come to the conclusion that it would likely help other people, I would have never done it," he says. "There's no joy in me putting my life in view." (Read more Tim Cook stories.)

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