Apple CEO Tim Cook To Donate All His Wealth To Charity

Apple's CEO Tim Cook is known as one of the richest person alive after Bill Gates. But, Tim Cook has other plans for all his wealth.

Fortune magazine cited the head of the world's largest technology corporation as saying he planned to donate his estimated $785 million fortune to charity - after paying for his 10-year-old nephew's college education.

Apple CEO Tim Cook To Donate All His Wealth To Charity

Fortune estimated Cook's net worth, based on his holdings of Apple stock, at about $120 million. He also holds restricted stock worth $665 million if it were to be fully vested.

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He told Fortune he has started donating money to unspecified causes quietly and is trying to develop a more "systematic approach" to philanthropy that goes beyond writing checks.

In recent years, however, he has begun speaking out more openly about issues ranging from the environment to civil rights. Cook, who recently revealed he was gay, spoke out against discrimination of the lesbian, gay, bisexual and transsexual communities during his induction into the Alabama Academy of Honor last year.

While Cook's largesse could not begin to approach the scale of a Gates or Zuckerberg, both worth billions of dollars, the Apple CEO told Fortune he hopes to make a difference.

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