The biggest news in philanthropy over the last couple weeks is how the CEO of Apple, Tim Cook will be donating his entire fortune to philanthropic causes. His only stipulation is that he will be holding on his donation until he can pay for his nephews college education. While his list of causes has not been made public yet, he has elluded to human rights, immigration, and HIV transmission mitigation.
Cook adds himself to the ranks of other mega-tech influencers who have pledged to give away their fortunes by way of the Giving Pledge. Cook has an estimated total worth of about $120 million with stock that has yet to fully vest, worth about $665 million on top of his current level. While he has already been slowly making quiet donations, he plans to take a more systematic approach to his giving, as is accustomed to the CEO types who have a plan for everything they do.
What drives his philanthropic pledge? Most likely his passion for causes that he knows he can directly affect. With trends also being contagious, giving can make those participating feel very influential. To quote Tim Cook directly, “ You want to be the pebble in the pond that creates the ripple for change.” It will be exciting to see where Cook’s fortune will go and how it will create the ripples he speaks of. Until then, we can only speculate.