Melinda French Gates says children were raised 'middle-class' despite daughter's $16M graduation gift from tech billionaire Bill Gates

Jennifer received the extravagant graduation gift in 2018 from her parents after completing her studies at Stanford University. The estate, which includes rolling pastures and multiple land parcels, is conveniently located near New York city for her medical studies and was part of the family’s ongoing investment in their children’s future, according to The New York Post.

However, despite such lavish gestures, Melinda maintains that their children were raised with a modest mindset. Reflecting on her own upbringing, she shared in a 2024 interview with The New York Times, "I think it was much more of an upbringing like I grew up in."

She emphasized the importance of financial discipline in the Gates household, recalling, "A very middle-class household where money did dictate whether I got an extra pair of shoes that year or not." "We absolutely did not just buy them things," she continued. "They either had to buy with their allowance or put it on their wish list, which maybe they'd get from their grandparents or us."

Melinda French Gates and Bill Gates daughter, Jennifer Gates and her husband Nayel Nassar (R). Photo courtesy of Jennifer's Instagram

Melinda distilled the Gates family's strong, humble values into the smallest of actions, even warning her children not to flaunt private flights. "You really are not allowed to tell other people how we flew on this trip... otherwise it will separate you from other children," she said.

Reflecting on her time at Duke University, Melinda shared how her experiences with wealthy students shaped her parenting approach: "I vowed to myself that if I ever had resources at my disposal, those were not the kind of children I wanted to raise."

By 2016, the Gates family had already invested significantly in Jennifer’s equestrian career. Bill Gates reportedly purchased $38 million in property in Wellington, Florida, known as the Winter Equestrian Capital of the World, to support her training, according to The Mirror U.S.

Today, Jennifer, now 29, is married to Olympic show jumper Nayel Nassar. She continues to compete in equestrian sports while pursuing a pediatric residency at Icahn School of Medicine at Mount Sinai in New York.

Bill and Melinda finalized their divorce in August 2021 after 27 years of marriage. The tech titan recently revealed that each of his three children will inherit less than 1% of his fortune, currently valued at over US$100 billion. According to Forbes, Bill's 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.