Bill Gates has offered insights into how he raised his children, emphasizing the importance of being cautious with his significant wealth.
The billionaire has made it clear that his children will not inherit the vast majority of his fortune upon his passing.
In a podcast discussion, Gates elaborated that his children would receive only a minor portion of his estimated $107 billion net worth.
During his appearance on the Figuring Out With Raj Shamani podcast, Gates mentioned that his children would inherit less than one percent of his wealth.
Considering that less than one percent of over $100 billion still amounts to a substantial sum, they are likely to be financially secure.
Gates was questioned about his perspective on whether parents, regardless of wealth, should save money for their children or use it for other purposes.
He responded: “Everybody gets to decide on that, in my case my kids got a great upbringing and education but less than one percent 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 explained that he prefers his children to build their own achievements rather than be “overshadowed by the incredible luck and good fortune [their father] had.”
Gates further stated: “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 [Gates] foundation.”
The billionaire highlighted the success of his foundation and expressed hope that his children appreciated its positive impact.
Gates also noted that he has witnessed scenarios where the offspring of affluent individuals encourage their parents to be more charitable.
He commented: “I’ve seen cases where kids actually tell their parents to be more philanthropic. I think the younger generation sometimes actually is pushing against this idea of the wealth just being passed down.”
In a previous conversation with Forbes, Gates mentioned that a significant portion of his wealth would be directed towards charity, particularly the Gates Foundation.