Though it's something of an open secret, Apple CEO Tim Cook has never publicly acknowledged his sexuality before. But in an essay in Businessweek, Cook sets the record straight, as it were: he's proud to be gay.

Cook writes:

While I have never denied my sexuality, I haven’t publicly acknowledged it either, until now. So let me be clear: I’m proud to be gay, and I consider being gay among the greatest gifts God has given me.

Being gay has given me a deeper understanding of what it means to be in the minority and provided a window into the challenges that people in other minority groups deal with every day. It’s made me more empathetic, which has led to a richer life. It’s been tough and uncomfortable at times, but it has given me the confidence to be myself, to follow my own path, and to rise above adversity and bigotry.

It’s also given me the skin of a rhinoceros, which comes in handy when you’re the CEO of Apple.

Cook, who turns 54 on Saturday, defends his decision to skirt the issue out of his sense of privacy and his dedication to his work. He's coming out now, however, in hopes that it will have a positive effect on those less fortunate:

So if hearing that the CEO of Apple is gay can help someone struggling to come to terms with who he or she is, or bring comfort to anyone who feels alone, or inspire people to insist on their equality, then it’s worth the trade-off with my own privacy.

His disclosure makes Apple the first Fortune 500 company with an openly gay man at the helm.