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Apple Inc. (AAPL)’s Tim Cook Decides to Give Away His Wealth to Charity

Tim Cook, Apple Inc. (NASDAQ:AAPL) CEO, wants to be the pebble in the pond that starts the ripple that makes change.

In a new profile, Fortune reports that the Apple Inc. (NASDAQ:AAPL) chief executive has committed to donating almost all of his fortune to charity.

“You want to be the pebble in the pond that creates the ripple for change,” Cook is quoted saying by the publication.

The eminent executive, who took over with the blessing of Apple Inc. (NASDAQ:AAPL) co-founder and former CEO Steve Jobs shortly before he died in 2011, is said to view changing the world as higher in his priorities than simply making money.

Cook told Fortune that aside from paying for his nephew’s college education, he would give away his money to charity.

Apple, is AAPL a good stock to buy, Timothy Donald Cook, Tim Cook, charity, donation,

Nonetheless, it should be noted that Apple Inc. (NASDAQ:AAPL), and Cook personally, seem to be doing fine when it comes to making a ton of money.

The consumer electronics giant has a cash trove of nearly $180 billion as of January. Cook himself is close to being a billionaire, according to a report from CNN in January.

According to Fortune, Cook’s net worth based on stock holdings is at about $120 million. His restricted stocks are worth about $665 million fully vested at the stock’s current price. Last year, his salary was $9.2 million, CNN reports.

Cook’s decision to give away most of his fortune follows similar initiatives by high-profile millionaire and billionaire business people. Bill Gates has already donated a whopping $30.4 billion of his own money, according to this 2013 Forbes special report. Warren Buffett has given away nearly $20 billion. Microsoft co-founder Paul Allen has also given away $2.2 billion to charity. Mark Zuckerberg has also given away $1.5 billion.

Carl Icahn’s Icahn Capital LP owned about 57.76 million Apple Inc. (NASDAQ:AAPL) shares by the end of 2014.

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