Bill Gates To Give less Than 1 % Assets to his kids

Microsoft co-founder Bill Gates said he would leave behind only 1 per cent of his total wealth to his children. He believes that they should learn to succeed on their own instead of inheriting his wealth. Gates has three children with his ex-wife Melinda French — Rory Gates, Jennifer Gates Nassar, and Phoebe Gates.

Now, the 1 per cent of wealth itself would amass to considerable wealth. The Microsoft founder’s net worth amounts to $155 billion and 1 per cent of it would be $1.55 billion. This, along with the existing assets, would put his children among the top 1 per cent of the world’s richest.

During a podcast ‘Figuring Out With Raj Shamani’, Gates said the choices of wealthy families depend on the values of each family. Gates said in the podcast: “In my case, my kids got a great upbringing and education but less than 1 per cent of the total wealth because I decided it wouldn’t be a favour to them. It’s not a dynasty. I’m not asking them to run Microsoft. I want to give them a chance to have their own earnings and success.”

Gates said that he wanted his children to become significant on their own and not be overshadowed with his ‘luck and fortune’. The idea of allowing children find their own path is not confined to Gates alone. Late Apple founder Steve Jobs’ wife, Laurene Powell Jobs too said she would not pass down the wealth inherited from Steve to their children.

Amazon founder Jeff Bezos also revealed similar endeavor, vowing to donate majority of his wealth to charity rather than giving to his children. These examples make it clear that sharing wealth with non-family members for charitable purposes would give more satisfaction and happiness than keeping it confined in the family. Of course, the feeling of unity with every living soul comes after earning beyond sustenance, which requires immense discipline and a pinch of luck.