Warren Buffett and Bill Gates launched The Giving Pledge in 2010 — a campaign to persuade billionaires to give at least half of their fortunes to charity.
Yet some billionaires are giving their fortunes away in their own way. Last year, co-founder of Jack Ma, Alibaba started a multi-billion dollar charity.
According to Fortune, Apple CEO Tim Cook who is close to becoming a billionaire, says he will pay for his nephew’s college education, then donate the rest of his wealth to philanthropic projects.
Cook whose pay at Apple more than doubled last year to $9.2 million, has $145 million worth of stock awards vested and another $536 million in stock awards to come, so he has plenty of funds to give away.
He assumed his post at Apple in 2011 after Steve Jobs resigned.