Following the footsteps of other philanthropists like Microsoft’s Bill Gates and Facebook’s Mark Zuckerberg, Apple’s Tim Cook wants to make a difference by donating his multi-million dollar fortune to charity causes.
The Apple CEO is known for his previous philanthropy actions but this time Cook said that he is planning to donate all his money to charity, but after he makes sure that his 10-year-old nephew’s college fees are paid for.
Tim Cook spoke about his intention of giving away all his money to charity, saying that:
“You want to be the pebble in the pond that creates the ripple for change.”
Cook is one of the many millionaires and billionaires that have tech executive jobs and believe they can make a difference by giving huge amounts of money to different causes, whether for science or charity.
According to Forbes, Microsoft founder Bill Gates, along with his wife Melinda, is the most famous philanthropist in the tech field.
So far, Gates has donated 37% of his net worth, which means approximately $30.2 billion.
Mark Zuckerberg, the CEO of the biggest social media platform, Facebook, has given away more than $1 billion, that is 4% of his net worth until this day.
Other tech company leaders, like Sergey Brin, Google’ s co-founder, Ebay’s Pierre Omidyar and Gordon Moore, the co-founder of Intel, have been known to make substantial donations to charity.
Although Tim Cook is a very wealthy man, he is not a billionaire yet. He has a base salary of approximately $1.75 million as an executive at Apple and his net worth is about $120 million, based on his stock holdings at Apple.
Cook also has some restricted stock holdings that could be worth more than $650 million, if they were to be fully vested.
Tim Cook has become the CEO of Apple in 2011 and unlike his predecessor, Steve Jobs, Cook has been known to offer money for charitable purposes.
Jobs was not known as a philanthropist, stating that he doesn’t believe in giving away money.
But Cook is known for giving his employees major discounts on Apple products and has been involved in a companywide charity program that matches donations from employees of approximately $10,000 every year.
The Apple CEO has made a $50 million donation to Product RED, a disease prevention program, and another $50 million to Stanford hospitals.
Apple has not made any comments on Cook’s decision to give away his fortune to charity.
Image Source: technologytell
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