Bill Gates (Trades, Portfolio), co-founder of Microsoft, recently reiterated his decision to leave only a small fraction of his wealth to his children. During a podcast interview, Gates emphasized that inheritance decisions depend on personal beliefs. He explained that while his children have received an excellent upbringing and education, they will inherit less than 1% of his total wealth, as he believes this approach will be more beneficial for them.
Gates has previously mentioned giving each of his children $10 million, stating that more would not be advantageous. He hopes his children will achieve success through their own efforts, rather than relying on their father's fortune. Gates stressed the importance of his children understanding his philosophy early on, emphasizing equal treatment and incredible opportunities, but with a focus on using resources for philanthropic purposes.
Gates also noted that his children have witnessed their parents' efforts in various charitable causes, such as polio eradication and clean water initiatives. He expressed a desire for his children to feel proud of these efforts. Despite leaving a small portion of his wealth, Gates' fortune, currently estimated at $161 billion, means even 1% equates to $1.61 billion, ensuring his children's financial security.
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