Apple boss promises to donate millions to charity

Tim Cook, the chief executive of Apple, has announced that he will donate most of his personal fortune to charity before he dies.

In an interview with Fortune Magazine, the 54-year-old explained that he intended to give away his wealth to philanthropic projects, after providing for the college education of his 10-year-old nephew. Cook's net wealth, based on his holdings in Apple stock and restricted stock (if it were to be fully vested), amounts to over $780 million, and he intends to be hands-on in his approach to divvying that out. Fortune report that he plans to take time to develop a systematic approach to philanthropy rather than simply writing cheques. Which is nice.