How Apple CEO Tim Cook Is Giving Away His Fortune

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/ Source: NBC News

Apple CEO Tim Cook is a wealthy man, with a net worth of $120 million and Apple stock potentially worth hundreds of millions more -- and he plans to give it all away.

Cook revealed his philanthropic plans in an extensive profile in Fortune magazine this week:

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To Cook, changing the world always has been higher on Apple’s agenda than making money. He plans to give away all his wealth, after providing for the college education of his 10-year-old nephew. There should be plenty left over to fund philanthropic projects. Cook’s net worth, based on his holdings of Apple stock, is currently about $120 million. He also holds restricted stock worth $665 million if it were to be fully vested.

In fact, Cook has already begun "quietly" donating money, Fortune reported, but he wants to "develop a systematic approach to philanthropy rather than simply writing checks." Apple did not reply to a request for comment.

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