Bill Gates, 69, co-founder of Microsoft, said his children will inherit only 1% of his total wealth.
He has three children from his 27-year-old marriage with his ex-wife Melinda Gates: daughter Jennifer (28), son Rory (25) and youngest daughter Phoebe (22).
Even if only 1% of his $155 billion fortune earns $1.55 billion, the real question is why the Microsoft co-founder chose what he did and what he intends to do for the rest of his work.
Why did Bill Gates leave 1% of his wealth to his children?
In Raj Shamani’s podcast, Bill Gates said his kids were “well grown and educated” but he would give them less than 1% of their total wealth because he “want to give them the opportunity to have their own income and success.”
Bill Gates told Shamani that wealthy families are based on their personal beliefs, based on their legacy decisions, in his case, “My children are given a rich upbringing and education, but less than one percent of their total wealth because I think it’s bad for them.”
“This is not a dynasty, I’m not asking them to run Microsoft. I want to give them a chance to have their own income and success.”
Gates said he hopes his children’s own rights are “important” and not be overshadowed by “incredible luck and good luck” [their father] have. ”
He added: “You don’t want your children to be confused by your support for them and their love. So I do think it’s your philosophical explanation: You will treat them equally and you will provide them with incredible opportunities, but the highest appeal to these resources is to go back to the most needed opportunities through the foundation.”
This is not the first time the Microsoft co-founder shared his intention that he did not leave all his wealth to his three children. He earlier called all wealth to his children “mistakes.”
Earlier, he told the Daily Mail that he would provide $10 million to his children. “I definitely think giving kids a lot of money is bad for them.”
What will happen to Bill Gates’ $155 billion wealth?
Bill Gates has previously announced that most of his $155 billion fortune will go to charity.
Gates announced at a TED conference in Canada in 2014 that his huge fortune will be the family foundation – the Bill and Melinda Gates Foundation, the largest private charity in the world.
The gate, along with some other billionaires, created a donation commitment in 2010 that encourages super-wealthy people to donate most of their wealth to charity.
