Apple CEO Tim Cook has announced all of his money will be going to charity following a philanthropic surge by CEOs and celebrities over the past few years, including Microsoft Chairman Bill Gates and Berkshire Hathaway CEO Warren Buffett.

In a profile piece by Fortune, Cook said once he got his 10 year-old nephew through college, he will donate the remaining funds -- an estimated $800 million -- to charities.

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The Apple CEO has no children to pass on his wealth, being completely devoted to his work. Cook apparently spends more hours working than anything else, and any time off he spends improving his fitness.

He has $180 million currently available and $660 million in stock will be released once he completes a five-year tenure at Apple. Since there's no real replacement for Cook in sight, he might stay for another five years and add another few million to the bank.

Apple's stock price is set to keep going upwards, as well, which could mean once Cook's stock is finally available, he'll have over $1 billion. There are performance stocks that Cook might be able to pick-up on his five year stay at Apple.

Cook joins a large philanthropic effort, but some senior executives like Google CEO Larry Page and Tesla Motors, SpaceX CEO Elon Musk have shown more interest in private investments, with Page going on record saying he would rather spend his billions on Musk.

TagsTim Cook, Philanthropy, Charity