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

Thu, March 20, 2014 4:28pm EDT by 13 Comments 11,204 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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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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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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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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