In some ways, Mr Cook's decision is unusual - his fortune is not the product of innovation, but the product of a career as an executive, and wealth earned thus is usually considered to be less of a candidate for giving away. But in other ways, it should be expected. Steve Jobs was something of an exception. In the information-technology industry, vast fortunes have been made, and are being given away. Mark Zuckerberg of Facebook has promised to give away his money. Even the mercurial Larry Ellison of Oracle signed the Giving Pledge. This is perhaps because the information technology industry has a unique understanding of the volatile underpinnings of modern wealth -- what commercial dynasty can be securely built in a sector that transforms itself every decade? This is how the new billionaires are fundamentally different from "old money" families with many of them perpetuating corporate power over time through control of scarce financial and natural resources, not through continual innovation. In addition, the information technology billionaires exhibit professional values and goals rather than those of most corporate empire-builders: they tend to stay within the boundaries of their sector, attempting to dominate the production of goods and services they know, rather than expanding their groups' footprint across places and sectors, like earlier corporate families, or like India's own oligarchs. Professional values include the push to "give back", and the belief that one's own children - or, in Mr Cook's case, his nephew - should be comfortably-off, but make their own meritocratic way in the world.
This attitude is yet to percolate into India - except, unsurprisingly, among its information technology billionaires, who seem to share their American counterparts' willingness to give away vast sums of money. Both N R Narayana Murthy and Nandan Nilekani are supporting various philanthropic enterprises. Wipro's Azim Premji has a foundation that is as active. And, of course, there are always the Tatas. But among many other parts of Indian industry, there is a notable reluctance to send money out of the family. Perhaps, for those who have inherited and built on wealth, the funds are seen as being as much the property of the family, including future generations, as of those members controlling it at this moment. Perhaps it is because many of India's richest are in sectors and markets where big cash piles are an important business advantage. Perhaps it is the divide between professional and traditional business values. Those like Vedanta's Anil Agarwal, who has promised to give away three-fourths of his wealth, are rare. And rarer still are those like Mr Cook - professionals who rise to the top, make a great deal of money, and are willing to give that away.