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Apple CEO to give away all his money

Apple Inc Chief Executive Tim Cook is joining the roster of the very rich who are giving away their wealth.

Fortune magazine cited the head of the world’s largest technology corporation as saying he planned to donate his estimated USD785 million fortune to charity – after paying for his 10-year-old nephew’s college education.

Fortune estimated Cook’s net worth, based on his holdings of Apple stock, at about USD120 million. He also holds restricted stock worth USD665 million if it were to be fully vested.