The Microsoft founder insists he doesn’t want to hand over his billions to his three grown-up children. Photo / Getty Images
The Microsoft founder insists he doesn’t want to hand over his billions to his three grown-up children. Photo / Getty Images
Bill Gates’ kids will inherit “less than 1%” of his fortune because he doesn’t want to create a family “dynasty”.
The Microsoft founder has long insisted he doesn’t want to hand over his billions to his three grown-up children - Jennifer, Rory, and Phoebe - andhas no plans for them to ever take over his company. And he’s now revealed they will receive a tiny fraction of his net worth.
During an appearance on the Figuring Out With Raj Shamani podcast, Bill, 69, explained: “My kids got a great upbringing and education, but less than 1% of the total wealth because I decided it wouldn’t be a favour 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. You know, be significant and not overshadowed by the incredible luck and good fortune I had.
“Different families see that differently. I think the people who’ve made fortunes from technology are less dynastic … they’ll even take their capital and give a lot of that away.”
He went on to add: “You don’t want your kids to ever be confused about your support and love for them. I do think explaining early on your philosophy, that you’re going to treat them all equally and that you’re going to give them incredible opportunities … "
Bill insisted his children understand the bulk of his money should go to charity through the Gates Foundation he set up with his ex-wife Melinda.
He added: “The highest calling for these resources is to go back to the neediest through the foundation ... They’ve [the kids] seen the success of the foundation, they’re very proud.”
Bill married Melinda in 1994 and they divorced in 2021. It was previously revealed that they decided to continue living together until their youngest daughter Phoebe had graduated from high school.
He previously told the Times: “The divorce thing was miserable for me and Melinda for at least two years ... Melinda and I still see each other - we have three kids and two grandchildren, so there are family events.
