Bill Gates, cofounder of Microsoft, has stated that he plans to leave less than 1% of his wealth to his children, believing that it’s more beneficial for them to build their own success rather than inherit his fortune. This stance is shared by other prominent tech figures, such as Apple’s Steve Jobs and Amazon’s Jeff Bezos, who prioritize philanthropy over passing down generational wealth.
Gates, whose net worth is $162 billion according to the Bloomberg Billionaire’s Index, has made it clear that his children will inherit only a fraction of his fortune. Even though this amount is less than 1%, it still totals over a billion dollars, enough to keep them in the top 1% of wealth holders globally.
In an interview on the “Figuring Out With Raj Shamani” podcast, Gates explained that his children had a privileged upbringing but he believes that inheriting wealth would not be a favor to them. He emphasized that he wants them to have the opportunity to create their own achievements and success. Gates had previously mentioned gifting each of his children $10 million, though recent statements suggest his preference now leans toward leaving them much less.
Gates explained his approach, stating, “You don’t want your kids to ever be confused about your support for them and your love for them.” He also reflected on the importance of philanthropy, highlighting that his wealth should be used to support those in need, particularly through his foundation.
This decision reflects a growing trend among tech billionaires. Laurene Powell Jobs, widow of Steve Jobs, has stated that she will not pass on her inherited wealth to her children, as her late husband was not focused on accumulating wealth. Similarly, Jeff Bezos has committed to donating the majority of his fortune to charity.
Gates’ perspective, along with those of other tech moguls, signals a shift toward philanthropy and away from the traditional practice of passing down vast fortunes to heirs. As Gates put it, tech entrepreneurs are increasingly “less dynastic” and more focused on using their wealth to address global challenges.
