CUPERTINO, Calif., March 27 (UPI) -- Apple CEO Tim Cook has said he will donate his fortune to charity as he stands at the cusp of joining the ranks of the world's billionaires.
After paying for his 10-year-old nephew's college education, he will donate the rest of his fortune to various philanthropic organizations, reports Fortune.
Cook is not the only Silicon Valley resident to donate his fortune. Billionaires Warren Buffett and Bill Gates launched the Giving Pledge in 2010 -- a promise from the wealthy to give away at least half of their fortunes.
Cook is the first openly gay CEO of a Fortune 500 company while in his position. He came out in an open letter supporting equality. Cook calls the news of his sexual orientation a "yawner" at Apple.