(MSN) - Microsoft founder Bill Gates shocked many when he announced than he plans to leaves only 1% of his wealth to his children, adding that he desired his kids to find their own success than inherit fortunes.
However, for the man who founded Microsoft, even a fraction of his net worth is overa billion dollars. According to the Bloomberg Billionaire’s Index, Bill Gates is worth $162 billion and 1% that would be $1.62 billion. Even without an inheritance, the three children's assets will still place them in the top 1%.
“Everybody gets to decide on that. In my case my kids got a great upbringing and education but less than 1% of the total wealth because I decided it wouldn’t be a favor 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 told influencer Raj Shamani on his podcast, Figuring Out.
‘Won’t do any favours'
Previously, the Microsoft founder had said that he would be gifting his children $10 million each and won't do them any favors to give more.
He told Shamani that he desired that his children become “significant” on their own and not “overshadowed by the incredible luck and good fortune" of Gates.
"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 going to 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," he said.
Following behind Steve Jobs
Late Apple founder Steve Jobs' wife Laurene Powell Jobs has also claimed that she will not be passing down th wealth she inherited from her husband to her children. She has in the past clairified that Jobs was not interested in building legacy wealth.
“I inherited my wealth from my husband, who didn’t care about the accumulation of wealth. I am doing this in honor of his work, and I’ve dedicated my life to doing the very best I can to distribute it effectively, in ways that lift up individuals and communities in a sustainable way. If I live long enough, it ends with me," she said.
Amazon founder Jeff Bezos has also reiterated the same, pledging to donate the majority of his wealth to charity instead of leaving it to his four children.
By Muskaan Sharma
April 6, 2025
