Tech billionaire Bill Gates says being rich makes him happier

In a 2019 Reddit AMA, when asked if being a billionaire made him happier than if he had been middle class, Gates replied: "Yes."

"I don't have to think about health costs or college costs. Being free from worry about financial things is a real blessing."

He clarified that extreme wealth was not required to achieve peace of mind. "Of course you do not need a billion to get to that point," he added. He said the real advantage of wealth was not the number of commas in one’s net worth, but the freedom from financial worry.

Billionaire Bill Gates in Paris, France, April 16, 2018. Photo by Reuters

"We do need to reduce the cost growth in these areas so they are accessible to everyone," he added. His comments align with the philosophy of his ex-wife, Melinda French Gates, who told The New York Times in a 2024 interview that they raised their three children with modesty and financial discipline.

Gates also noted that other sources of happiness for him include staying active and seeing his children thrive. "Staying in shape helps me stay calm and be happier," he said.

Although Gates enjoys the comfort of vast wealth and a sprawling estate, he has committed to giving away most of his fortune. He co-founded the Giving Pledge with Warren Buffett, urging billionaires to donate at least half of their wealth to charitable causes.

In 2000, he and Melinda founded the Bill and Melinda Gates Foundation, which became the world’s largest private philanthropic organization.

Following their 2021 divorce, the foundation was renamed the Gates Foundation, with Gates as sole chair. He has donated over US$59 billion to the foundation, including a US$20 billion gift in 2022. Most of the contributions were in Microsoft stock, according to Forbes.