Apple’s Tim Cook has announced his plans for the fortune he has amassed as an executive with Apple, which is based in cash and stock options with the electronics giant, CNN reports. Cook has now stated he intends to give away his entire fortune to charitable organizations, with his nephew receiving funds to pay for his college education. Cook made the announcement that philanthropic projects would benefit form his fortune as reports showed apple has become an even more powerful company on the markets under Cook’s leadership.
Flavio Maluf said that the CEO made history last year when he became the first openly gay CEO in the top 700 companies in the world, which has now been followed by his philanthropic gesture to help people around the globe. A number of other billionaires have recently been making large charitable gestures, including Bill Gates and Warren Buffett who started an organization for billionaires to give half their fortunes to charity. Despite handing over his already amassed fortune Cook has another large salary to come, which includes around $536 million in Apple stocks still to come as part of his deal to remain as CEO.