Bill Gates: Why World’s Richest Parent Not Giving Money To Kids

Thu, March 20, 2014 4:28pm EDT by 30 Comments 29,036 Article Views
Bill Gates Kids Money
Oli Scarff/News/Getty Images

Hopefully Bill Gates’ three children don’t have their sights set on his personal fortune, estimated to be at a whopping $76 billion. Why? Because Bill does not plan on leaving them ‘huge’ inheritances, and his reason might surprise you.

Bill Gates has a plan for his personal fortune, but it doesn’t involve any of his family members. So, where is all of that glorious money going? Find out here!

Bill Gates Won’t Leave Fortune To Kids

Bill Gates, 58, and his wife Melinda, 49, got married in 1994 and have three children together: Jennifer, 18, Rory, 16, and Phoebe, 11. Thanks to Bill’s many business ventures, including being the co-founder of Microsoft, he is worth a small fortune. No, I take that back. Bill is not worth a small fortune, he is worth a HUGE fortune. Bill is worth an estimated $76 billion. Yes, you read that correctly. Billion.

However, it was reported in 2011 that Bill’s children are set to inherit a measly $10 million each. When asked about it, Bill explained his decision at the TED conference in Vancouver, Canada on March 18.

“They won’t have anything like that. They need to have a sense that their own work is meaningful and important,” Bill said. “You’ve got to make sure they have a sense of their own ability and what they’re going to go and do.”

Bill truly is a brilliant man. Hopefully, he’s passed some of that brilliance down to his three children.

Bill & Melinda Want Their Kids To Remain Balanced

Despite being the richest family in the world, Bill and Melinda claim that they really want their children to stay balanced. This is another reason why they won’t be leaving too much of their fortune to their kids, because they want them to find their own self-worth. Bill doesn’t want his kids to be like other heirs, who squander their parents money and don’t accomplish anything.

“We want to strike a balance so they have the freedom to do anything but not sort of a lot of money showered on them so that they can go out and do nothing,” Bill explained at the conference.

The remainder of Bill’s fortune will be left to his charity, The Bill and Melinda Gates Foundation, which focuses on poor health and poverty.

Hey HollyMoms — What do you think about Bill Gates not leaving his money to his children? Let us know your thoughts below!

– Lauren Cox

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Cordell Dovan Huckaby

Posted at 4:56 AM on October 21, 2014  

Honestly i make very little and even with half of ten million i could quit my job and pay the bills up enough to go to school and get a masters degree . Thats more than enough. I would leave my kids with a little more if i had that much but thats plenty . I would leave them with no less than 50 million. I dont have kids and barely have a cent.

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Anonymous

Posted at 6:49 AM on October 11, 2014  

Call or Text Robinsonbuckler (+)1 971 (512-6745) he will solve your relationship problem and bring back your lover in 3 days

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ram patel

Posted at 3:55 PM on October 8, 2014  

India this proverb is very famous that “poot kapoot to kya dhan sanchay, poot sapoot to kya dhan sanchay ” good deed by Mr. Bill Gates……..

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Bob Yughr

Posted at 7:19 PM on October 1, 2014  

Good for him, his kids should learn how to care for themselves, and not be spoiled brats

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Toni

Posted at 9:40 PM on September 30, 2014  

I agree with david klisman. Bill gates decision is practical. The fact that some comments here think most of it should go to his children shows why there are so many spoiled screwed up children. Children don’t need billions to live well but eradicating disease and poverty in the world does. Thank you bill and melinda gates!

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rana

Posted at 3:55 PM on September 9, 2014  

Bill gates will make the biggest mistake of his life.
Giving away his maximum fortune away to couple of NGOs is not the right thing to do.
What he could do is that he could give away like 10% of his total money to orphan age and the rest of 90% to his three kids and wife.

Becaus whatever we are earning today is for ourselves and our kids .
You don’t want your kids to starve or become unstable when you leave this world.

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Pat P.

Posted at 6:53 PM on September 12, 2014  

You have to be kidding! These kids will be in great shape while he is alive, will receive $10,000 after his death, and possibly more. In addition, they will make their own money, depend on their own abilities, not live off of their parents. Dividing up their earnings to share with so many needy people in the world is by far the best, the fairest and the most intelligent use of a ridiculous amount of Gates money. Besides dealing with the malaria epidemic and saving a great many lives, they will be doing so much good for so many people–not just 3 rich kids! The Gates don’t owe their children anything except to take care of them until they are adults, which I am certain he is and will continue doing significantly, and probably, if they need help while the Gates are still alive, the kids will get it. There are entirely too many spoiled rich kids in this world now, who only value money and care nothing for others suffering or in need. The Gates kids have been well off and will continue to be so. I am amazed at how self-centered so many people are thinking they should get almost everything–to hell with anyone else. That type of thinking is a major reason why our world is dictated by greed, selfishness and wars.

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AJ Bankston

Posted at 7:21 AM on September 9, 2014  

His children are set for life. It doesn’t really matter what we think. He has the right to parent his children any way he wishes. If you know more information about this, he is giving them more than just cash. That cash is basically just spending money. His children will have their education paid for, living expenses paid for ( Most likely including a dwelling of some sort) and i’m not fully sure about this, but he has offered them positions within one of his organizations.

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JASHAN SANDHU

Posted at 4:23 AM on August 22, 2014  

Bill u are not a brilliant on this planet but also a true visionary ….hats off to you

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David Klisman

Posted at 2:48 PM on August 21, 2014  

It seems that other commenters don’t understand how much money $76 billion really is. It’s astronomical. It’s not something to play around with. Bill Gates wants to accomplish something. And while others can only dream about how they’d like to improve the world, he also has the means. Now this is great responsibility.

His children will still get enough money to never have to work in their lifetime for financial reasons. They will probably still do it, but if you get $10 million, you are already super-rich. But this richness ($10M) is still on a personal level; you can still possibly spend it on you, your loved ones and on people you know personally. What the children won’t automatically have is the global, astronomical, impossible-to-understand richness, which can even change global processes. It is huge power, and power on a global level should not be heritable. It’s power that is comparable to big organizations and smaller governments. Bill Gates plays by his principles here.

Again, it’s not as if you’d give your children only a fraction of your money. This is an incomparable thing, it’s not about money. It’s about power that is not based on election or democracy. Such power should never just fall on your shoulders automatically based on who your parents are. Again, the kids will be super-rich and have enough money to buy a huge mansion, a sports car and not have to work a minute their life! Try to understand this!

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julia stacy

Posted at 9:23 AM on August 16, 2014  

seriously you guys r getting spoilt like miley

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Charles 305

Posted at 12:25 AM on August 8, 2014  

The people on here that are tripping on Bill Gates leaving his children “ONLY” $10,000,000 are crazy. $10,000,000 is a lot of money, more money than just about any American would ever see in their entire lifetime. He will be paying all the money for their college expenses when each one of them go to college, so that won’t even be coming out of that $10,000,000 trust fund each of them have waiting. While he’s alive I’m pretty sure he will give them any money when they need it and it doesn’t look like he will be dying anytime soon. So all 3 of his children will have the support of their billionaire father into at least their mid-20’s and early 30’s. But when he does die they all know that they won’t have that 60 billion dollars from their dad to depend on anymore. Instead they each will have $10,000,000 that they better spend wisely and hopefully invest wisely like their father did. And who know’s he might leave their house in the trust fund to his children, that’s another $4,000,000 each to all 3 of them if they sell it.

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Joe

Posted at 5:06 AM on August 6, 2014  

that’s seems very selfish of their own… i mean there are living a dream life and don’t want their kids to live like them… i understand he has to help othera but FAMILY cames first! Most of the Families work hard so their Childen can live Better… That is not Fair.

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STEVEN NGUYEN

Posted at 2:11 PM on August 7, 2014  

BILL GATES MAKES THE BEST DECISION.

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Jon

Posted at 9:31 PM on August 4, 2014  

I think that it is a good idea because otherwise they will just not care abput anything but bill deservis this money becauseche created somthing and that os how he earned his money and that is how it should be you deserve what you get and if you do nothing you dont deserve much

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Mr Chris Betts

Posted at 4:39 PM on June 17, 2014  

I believe that, Mr Bill Gates, has 1, if not the most brilliant mind that this world has ever seen or ever likely to see. The Bill & Melinda Gates foundation, is a true inspiration, to all of us. They are clearly showing, excellent parenting, by letting their children find their own two feet. I fully support their decision on NOT leaving their HUGE fortune to them. Well done Bill & Melinda.

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WufanGohan

Posted at 8:36 PM on March 22, 2014  

I would hate to be his son.

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Rajesh Alla

Posted at 9:59 AM on March 21, 2014  

Fun is watching it grow…

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Ross Kardon

Posted at 6:33 PM on March 20, 2014  

I just hope that Bill Gates’ three children, when they inherit that $10 million each, are not foolish and blow it away like the Prodigal Son! I am not a Christian or a follower of any other religion myself. I am a member of the FREEDOM FROM RELIGION FOUNDATION.

But the story of the Prodigal Son is an excellent example of why it is important to be responsible with money. There is a Chinese saying that goes “Wealth does not last three generations”.

I also hope that BIll Gates three children do not lose their $10 million each to scam artists, either.

I do consider Bill Gates to be a hero for the way he is using his excess wealth to help better humanity. Most other rich people, even those who are self-made, live in their little worlds, and could not care less about the rest of humanity and the world.

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brown

Posted at 5:36 PM on March 20, 2014  

Bill and Melinda are sound selfish#Are they so introvert in nature!

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Megan

Posted at 5:53 PM on March 20, 2014  

Selfish???? I really hope your kidding! Bill gates gave away HALF of his net worth a few years back to help people with NOTHING! He’s the opposite of selfish, he believes his children have so much more to offer than just money, he actually believes they can do amazing and wonderful things with their futures. Leaving them everything would imply more that he thinks they are stupid idiots who could never make it without him or his money!

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TJ

Posted at 7:10 PM on March 30, 2014  

Bill Gates donating is fine, but he is being gullible giving most of the money away to other people to control than his own children. Leaving your children everything does not imply anything at all, if anything leaving other people everything does imply you are being duped.

 
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Brayden Taylor

Posted at 1:50 PM on March 22, 2014  

Yes they are very selfish and dumb

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Dolores

Posted at 4:45 PM on August 11, 2014  

For god’s sake HE’S LEAVING THEM 10 MILLION DOLLARS!!!!!!!! It’s a huge amount of money, and they are not selfiish… They are giving their money for humanities greater good, how is that selfish??

 
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Kiki

Posted at 5:19 PM on March 20, 2014  

He is leaving them 10 mil. each (I bet they will not starve) And a life of teaching about the importance of money and work which I found priceless. May be this way we will not have another Paris Hilton or those spoiled trust found kids. I wish there were more rich people like him.

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Sherry L.

Posted at 5:00 PM on March 20, 2014  

Bill and his wife sound crazy their living the best life ever so their kids shouldlive the same way. Most parents wwork so their kids can have the best future they can offer. If I had that much money I would give each child. the same amount. Put it in a trust theirs other way to aspilt the money but their children should come first.

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Angel M

Posted at 3:39 PM on May 28, 2014  

I agree. You work hard for your children. I understand your giving money to the needy which is great and unselfish. Not alot of people with money actually care for people in need. But I always believe your family comes first.

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Nick M

Posted at 2:12 PM on October 2, 2014  

You Work hard for your children as normal people. My parents worked hard till i graduated college. After that i was on my own. I am sure they have everything paid for before he dies a new house, car college, anything really. Then when he does die they get 10 million wtf is wrong with that. People think O he worked this hard for his 70 so his kids should get it. WTF why? They did nothing 10 million is plenty. Special when they are getting high lvl jobs at Microsoft. So why should they need more. They will probably make $120 dollars an hour at minimum, They are set. And doe this world really need more people just relaxing and not doing anything? America is already lazy why do we need more. Bill is a genius at what he is doing. LOL grow up and think of the world and not yourself. LOL

 
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Toni Martin

Posted at 4:57 PM on March 20, 2014  

That is the reason that he is the richest man in the world…. Has anyone ever watched the Rich Kids of Beverly Hills……

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brown

Posted at 5:33 PM on March 20, 2014  

I do watch it!

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