In a recent interview with Indian podcaster Raj Shamani, the 69-year-old philanthropist said his children — Jennifer, 28, Rory, 25, and Phoebe Gates, 22 — would inherit only a fraction of his wealth.
"In my case, my kids got a great upbringing and education but [will get] less than 1 percent of the total wealth because I decided it wouldn’t be a favor to them," he explained, as reported by Page Six.
According to Forbes, Gates’ net worth stood at $107.5 billion as of April 14. Even 1% of that sum would amount to more than $1 billion for each of his children, according to People.
Gates added that he has no interest in having his children follow in his professional footsteps.
"It’s not a dynasty. I’m not asking them to run Microsoft," he said. "I wanna give them a chance to have their own earnings and success, be significant and not overshadowed by the incredible luck and good fortune I had."
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Bill Gates with his ex-wife Melinda French Gates (2nd from right) and their 3 children. Photo from Instagram |
When asked whether his children had ever expressed disappointment over not inheriting the bulk of his wealth, Gates said: "You don't want your kids to ever be confused about your support for them and your love for them."
"So I do think, explaining early on your philosophy that you’re gonna treat them all equally, and that you’re gonna give them incredible opportunities, but that the highest calling for these resources is to go back to the neediest through the foundation, [was important]."
He added that his children have "seen the success of the foundation" and said he hopes "they’re very proud" of it.
Gates established the Bill and Melinda Gates Foundation, the world’s largest private charitable organization, with his then-wife, Melinda Gates, in 2000. After their 2021 divorce, it was renamed the Gates Foundation, and Bill took over as its sole chair.