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

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!

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March 20, 2014 4:28PM EDT
Bill Gates Kids Money

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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