Bill Gates, the co-founder of Microsoft and unarguably one of the wealthiest people in the world, has, over the years, challenged conventions, especially in the aspects of wealth and inheritance. With a net worth of over $100 billion, Gates has always been vocal about his beliefs regarding leaving his fortunes to his children. He has pledged to donate most of his wealth to charitable causes through the Bill & Melinda Gates Foundation while ensuring his children get enough to lead meaningful, independent lives.
In a recent interview, the 69-year-old revealed his intention about the exact fraction of his wealth he would be leaving for his three children, Jennifer, Rory, and Phoebe. It is a far cry from the approach of many other ultra-wealthy families.
Bill Gates says his children will only get less than 1% of his wealth
During an appearance on an episode of the Figuring Out podcast with Raj Shamani, the billionaire revealed that his three children, whom he shares with his ex-wife, Melinda French Gates, would be entitled to less than 1% of his total wealth, meaning that they will be getting at least a billion dollar each.
Gates explained that since his children enjoyed an outstanding upbringing and education, he does not believe that his wealth should benefit them too much so as to allow them to carve their own paths.
Bill Gates explains that his children do not resent him for his decision
Gates stated that he has no intention of pressuring his children to run his business and claimed it was not a dynasty. He mentioned that he wants the children to achieve personal fulfillment and significance on their own terms through the immense opportunities provided for them rather than live in the shadow of his success.
He also noted that his children hold no resentment against him for his approach to sharing his wealth. Gates explained that he has openly communicated his philosophy of giving them equal treatment with no favoritism while allowing them to understand his unwavering love and support for them. The business tycoon disclosed that his children have now fully grasped his belief that his wealth will be better utilized by directing it towards philanthropic efforts through his foundation, where it can benefit the world’s most vulnerable populations.