Apple CEO Tim Cook has announced that he will donate his fortune to charity.
Cook will thus join the growing list of wealthy people who donate their assets during their lifetime or after their death.
Fortune magazine quoted the CEO of the world's largest technology corporation as saying he plans to donate his fortune, estimated at $785 million, to charities after paying for his 10-year-old nephew's education.
"I want to be a pebble in the water that will create waves of change," Kuk told that magazine, as reported by Poslovni dnevnik.
Fortune estimates that Cook's net worth, based on his Apple stock portfolio alone, is about $120 million, while he also holds $665 million worth of non-disposable shares.
Such an announcement by the 54-year-old Kuk is just one in a series of examples of frequent philanthropy by the richest people.
Billionaire and financier Warren Buffett is encouraging very wealthy people to donate at least half of their wealth through the "Giving Pledge," an initiative in which members promise to donate at least half of their wealth during their lifetime or after their death, which has already been joined by Microsoft's Bill Gates, Facebook's Mark Zuckerberg and Oracle's Larry Ellison.
While Cook's generosity can't match that of Gates or Zuckerberg, who have billions of dollars in assets, Apple's CEO told Fortune he hopes he can be the one to make a difference.
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