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Apple CEO Tim Cook plans to donate all his money to charity

Tim Cook, Apple's CEO, has a plan to donate all his money, which is at a whopping $785 million, according to a report from Fortune magazine. He plans to put this to action, just as soon as he's done paying for the future college education of his 10-year old nephew.

Cook reportedly has a base salary of $1.75 million, and a net worth of $120 million. He also holds over $665 million of restricted stocks, if it were to be fully vested.

"You want to be the pebble in the pond that creates the ripples for change," the CEO told the magazine.

He has also disclosed that he has already started donating money to unspecified beneficiaries quietly, and said that he is taking the time to develop a "systematic approach" to philanthropy that exceeds simply writing and signing checks.

While Tim Cook is not one of the usual people who gets on the news for being generous on giving away his money, the CEO reputedly hopes to make a difference with this act.

All things considered, the Apple CEO joins the likes of Microsoft CEO Bill Gates and Facebook CEO Mark Zuckerberg when it comes to being generous with donating money for a good cause. Back in 2012, Gates donated $750 million to the global AIDS fund. Zuckerberg, furthermore, back in 2010 has pledged to donate majority of his money to charity.

Source: Fortune via CNET | Image via JoeMyGod

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