Microsoft Founder Bill Gates recently made headlines with his announcement that he will leave only 1% of his vast wealth to his children, emphasising his belief that they should carve out their own paths to success rather than rely on inheritances.
Gates expressed that he wants his children to achieve independence, free from the burden of a dynastic legacy, according to a Hindustan Times report on Sunday, April 6.
How much is Gates' wealth?
Despite the small percentage, 1% of Gates’ fortune is still a big amount. According to the Bloomberg Billionaires Index, Gates’ net worth stands at $162 billion, meaning 1% equates to $1.62 billion.Even with this limited inheritance, Gates’ three children will remain among the top 1% of wealth holders globally, thanks to their father’s financial legacy.
Gates' philosophy
Gates elaborated on his decision, stating, “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.” He said this on a podcast called, Figuring Out, by influencer Raj Shamani.
His approach encourages self-reliance, while ensuring that his children are not defined solely by the inheritance they have received, but by their own achievement.
