Categories: Business

Tim Cook to donate his wealth to charity

Apple CEO Tim Cook has announced he is donating most of his wealth to charity before he dies.

The boss of the world’s most profitable company is worth over $800 million.

Tim Cook told Fortune Magazine that he would leave his wealth to philanthropic causes but not before paying for his 10-year-old nephew’s college education.

He joins a growing number of the world’s super-rich who are giving away their wealth, including Facebook founder Mark Zuckerberg.

Five years ago, billionaire investor Warren Buffett and Microsoft founder Bill Gates launched the campaign The Giving Pledge. It aims to convince billionaires to give at least half of their fortunes to charity.

Mark Zuckerberg and over 100 others have so far signed up to the “moral commitment”.

Tim Cook’s base salary went up by 43% in February 2014, rising to $9.2 million a year.

According to Fortune Magazine, Tim Cook holds $120 million worth of Apple shares and a further $665 million of restricted stocks.

Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.