Microsoft co-founder Bill Gates has revealed his intention to bequeath less than 1% of his vast fortune to each of his three children—Jennifer, Rory, and Phoebe Gates. This decision stems from his belief that substantial inheritances can hinder personal growth and self-reliance.
Gates, whose net worth is estimated at $162 billion, explained that while his children will receive a fraction of his wealth, it will be sufficient for their needs but not so excessive as to discourage their individual ambitions. He emphasized the importance of them forging their own paths, stating, “They won’t be poor, but it’s not a colossal sum.”
This approach aligns with a broader trend among affluent individuals who prioritize philanthropy over passing down large inheritances. Gates, along with other billionaires like Warren Buffett, has committed to the “Giving Pledge,” dedicating the majority of his wealth to charitable causes.
Gates’ children have pursued their own careers: Jennifer is a pediatrician and accomplished equestrian; Rory has maintained a private life with reported interests in technology and public policy; and Phoebe is a recent Stanford graduate involved in fashion and activism.
By limiting their inheritance, Gates aims to encourage his children to achieve success independently, reflecting his belief in the value of personal accomplishment over inherited wealth.
