Here's how much money Bill Gates's children will inherit
What's the story
Microsoft co-founder and renowned philanthropist Bill Gates has revealed that his three children will inherit less than one percent of his massive wealth.
Speaking to podcaster Raj Shamani recently, Gates said that he wants his kids to carve out their own path in life.
However, even 1% of Gates's net worth (which Forbes puts at $101.2 billion at the moment) is over a billion US dollars!
Independence focus
'Wanna give them a chance to have their own earnings'
Gates's children Jennifer (28), Rory (25), and Phoebe (22) will collectively get less than one percent of their father's wealth.
The decision comes from his belief that it wouldn't be beneficial for them to inherit such a vast fortune.
"I wanna give them a chance to have their own earnings and success," said Gates.
He also stressed he doesn't want his kids to be "overshadowed by the incredible luck and good fortune I had."
Clear communication
Kids should be made aware about parents' financial plans early
Gates also shared his philosophy on discussing wealth distribution with his kids.
He believes it's important for parents to be transparent about their financial plans. "You don't want your kids to ever be confused about your support for them and your love for them."
The 69-year-old stressed that although he ensured "equal treatment" and "incredible opportunities" for all his kids, they were also made to realize that "the highest calling for these resources is to go back to the neediest."
Philanthropic pride
Gates children are proud of their father's philanthropic efforts
Gates said that his children have seen the success of the Bill and Melinda Gates Foundation, the world's largest private charitable organization, and hoped that they were "very proud" of it.
The foundation was set up in 2000 with his then-wife Melinda French Gates and was renamed to Gates Foundation after their divorce in 2021, with Gates becoming its sole chair.