Tim Cook To Donate All Of His Wealth To Charity After Death

Posted: Mar 27 2015, 6:33am CDT | by , Updated: Mar 27 2015, 6:38am CDT, in News | Apple


Tim Cook to Donate all of his Wealth to Charity after Death
Credit: Getty Images

After the legendary Steve Jobs, Tim Cook has led the company to even greater heights.

After taking charge of the company Tim Cook has not only proved to be a greater success in the financial sector but has also changed the culture of the company. Cook became the CEO of the company in October 2011, six weeks after Steve Jobs died.

Apple Watch, which is already revealed, is the first all new device of Cook's tenure as CEO. Cook 54 has heard many refrains such as the company cannot innovate under Tim and that he can never replace Jobs and so Apple would never be so great again.

Although no one will be able to predict whether the Apple Watch or new services like Apple Pay or acquisitions such as the $3 billion acquisition of headphone maker Beats will be financially successful or not but one thing is certain that under Tim cook the company will explore new avenues. Moreover Cook has shown his critics that he will not sit idle and just follow the footsteps of Jobs but will also innovate and try new things. 

Moreover under Cook Apple’s stock has soared from $54 to a recent $126 since Jobs died and this translated into a market capitalization of more than $700 billion making it the first company to do so. Apart from this the company’s cash hoard has tripled since 2010 to more than $150 billion.

Tim cook apart from establishing himself as a successful business leader is also a strong man who wants to change the world in many ways. One such act was when Cook publicly announced that he was gay. This act of courage has made this private executive a global role model.

Moreover he is the only openly gay CEO in the Fortune 500. Tim Cook has used the platform that Apple has provided him in order to raise his voice for gay rights, human rights, female representation on Wall Street and access to education. He even lamented the government of his home state Alabama on not giving gay their basic rights. 

By now you know that Tim Cook is a man who wants to make the world a better place rather than earn money and this is why Tim Cook has declared that he will donate all of his wealth when he dies. He has stated to Fortune that he will give away all his wealth once he provides college education to his 10 year old nephew.

The net worth of this Apple CEO based on his holdings of Apple Stock is currently about $120 million. Apart from this Cook also owns restricted stock which is worth $665 million. It has been learnt that Cook has already began to donate his money quietly and he also plans to develop a systematic approach to philanthropy rather than just giving his money away.

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M. Affan covers the hottest news that captivate the web today.




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