Tim Cook plans to donate all his money to charity

Tim Cook will reportedly give away the entirety of his fortune to various charities.

Tim Cook

On the path to becoming a billionaire, like many prominent tech CEOs before him, Apple's Tim Cook isn't the type of guy prone to blowing large sums of cash on lavish expenditures like yachts, mansions, and fast cars.

On the contrary, Cook revealed in a recent in-depth interview with Fortune that he plans to quietly give away all of his money to charity, save of course some money set aside for his nephew's college education.

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. Cook says that he has already begun donating money quietly, but that he plans to take time to develop a systematic approach to philanthropy rather than simply writing checks.

For anyone who has closely followed Cook, this shouldn't come as much of a surprise. It does, however, present a stark contrast to the way Apple is run. While Cook is keen on giving his money away, Apple as a company is notoriously stingy when it comes to corporate acquisitions and contracts it sets up with suppliers. Most recently, some of the details that emerged following Apple's failed partnership with GT Advanced Technologies demonstrated just how tough a negotiating partner Apple can be.

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