Apple CEO Tim Cook Plans to Donate His Fortune

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Tim Cook

The longtime tech executive told 'Fortune' magazine that he also will pay for his 10-year-old nephew's college education.

Apple CEO Tim Cook plans to give away all of his wealth.

The longtime tech executive told Fortune he has been giving money away quietly and will create a regular plan for his philanthropy in order to donate all of his wealth after paying for his 10-year-old nephew's college education.

Fortune estimates that Cook, 54, owns about $120 million in stock and $665 million in restricted stock if it were to be fully vested, equaling a fortune of about $800 million.

Cook succeeded Steve Jobs as Apple CEO in early 2012. He then made history in October 2014 when he came out as gay, making him the first openly gay CEO of a Fortune 500 company. He also has become a vocal supporter of human rights and racial and gender equality. Cook also has taken public stances on stopping AIDS and fostering immigration reform.

In the lengthy Fortune article, which detailed how Cook has found his own voice as the leader of Apple following Jobs' death, Cook talked about how "the intensity was more than I would have ever expected" in his new role.

Speaking on his decision to come out, said Cook: "To be honest, if I would not have come to the conclusion that it would likely help other people, I would have never done it. There's no joy in me putting my life in view."