Elsewhere online
March 27, 2015

Apple CEO Tim Cook to Donate Fortune to Charity

Tim Cook, the chief executive of Apple, plans to give away almost all of his nearly $800 million fortune before he dies, The Guardian and CNET write, citing an interview Mr. Cook gave to Fortune. In an article focused largely on his approach to leading the world's largest company, the Apple boss told the magazine that after providing for his 10-year-old nephew's education he will donate the rest of his wealth to charity.

In so doing Mr. Cook is hewing more closely to the philanthropic example of Microsoft co-founder Bill Gates than that of his predecessor, the late Steve Jobs, who famously disdained corporate giving and kept any personal philanthropy in which he engaged quiet. According to Fortune, Mr. Cook has roughly $120 million in Apple stock and has restricted stock holdings that could be worth about $665 million if fully vested.

Mr. Cook did not specify what causes he would support, but he has spoken publicly about the importance of tackling HIV/AIDS and climate change and in 2012 and donated $50-million to Stanford University hospitals. He also introduced a companywide giving program shortly after taking the reins at Apple.

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