Friday, March 27, 2015

Apple CEO Tim Cook wants to donate his fortune – SPIEGEL ONLINE

He wants to finance the college education

His ten year old nephew, but the rest of his assets will Apple CEO Tim Cook donate to charity. That said the 54-year-old business magazine “Fortune”.

According to estimates of the journal Cook Apple currently holds  Chart Show – shares worth about 120 million US dollars, the equivalent of almost 110 million euros. In addition, shares which he can only sell to certain conditions. These have a value of approximately $ 665 million, the equivalent of more than 600 million euros, according to “Fortune”.

“I want the pebble be in the pond that triggers the wave of change,” Cook explained his notice.

The Apple CEO follows other very wealthy entrepreneurs who use their wealth to charity. The major investor Warren Buffett has called the “Giving Pledge” initiative. He calls the super rich to donate his lifetime at least half of their assets. So far, including Microsoft founder Bill Gates, Facebook CEO Mark Zuckerberg and Oracle founder Larry Ellison have joined the initiative. Compared to their billion-dollar wealth is Cook’s assets takes way from almost modest.

The Apple CEO said “Fortune”, he had already begun quietly to donate money. Now, however, he wanted to take the time to develop a systematic approach for the distribution of its assets. That would make more sense than just issuing checks only.


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