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March 27, 2015, 11:05 AM EDT / Updated March 27, 2015, 11:06 AM EDT / Source: NBC News

Apple CEO Tim Cook is a wealthy man, with a net worth of $120 million and Apple stock potentially worth hundreds of millions more -- and he plans to give it all away.

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FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

Cook revealed his philanthropic plans in an extensive profile in Fortune magazine this week:

To Cook, changing the world always has been higher on Apple’s agenda than making money. He plans to give away all his wealth, after providing for the college education of his 10-year-old nephew. There should be plenty left over to fund philanthropic projects. Cook’s net worth, based on his holdings of Apple stock, is currently about $120 million. He also holds restricted stock worth $665 million if it were to be fully vested.

In fact, Cook has already begun "quietly" donating money, Fortune reported, but he wants to "develop a systematic approach to philanthropy rather than simply writing checks." Apple did not reply to a request for comment.

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How Apple CEO Tim Cook Is Giving Away His Fortune

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FOR SUBSCRIBERSCBP leaders cut out of Trump ad buy decision

FOR SUBSCRIBERSAmerican passenger drafted goodbye texts to her family as Flydubai plane plummeted

FOR SUBSCRIBERSCornell rape allegation pushes embattled New York prosecutor into national spotlight

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

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FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

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For Subscribers

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FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

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FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

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