American billionaire and Microsoft founder Bill Gates has said that his three children will inherit less than 1% of his current fortune, which Forbes estimates at more than $101 billion.
In an interview with Indian podcaster Raj Shamani, the 69-year-old philanthropist admitted that his descendants will not have access to the bulk of his wealth, PageSix reports. Gates has children, 28-year-old Jennifer, 25-year-old Rory, and 22-year-old Phoebe.
The conversation about inheritance began with Shamani’s remark that many Indian parents must “save everything for their children” instead of giving to charity.
In response, Gates stressed that each family has the right to decide for themselves. Still, he believes that “the higher calling for these resources is to help those in need through the foundation.”
Bill Gates and his ex-wife Melinda founded the Bill & Melinda Gates Foundation in 2000. After their divorce in 2021, the foundation was renamed the Gates Foundation, and the Microsoft founder became its sole head. Today, it is the largest private charitable organization in the world, dedicated to health, education, and poverty alleviation.
In response to whether his children were disappointed by this vision of inheritance, Bill Gates spoke about his approach to upbringing.
“It’s important that children don’t doubt your support and love. That’s why it’s important to explain your philosophy to them from an early age: that you treat them equally and give them great opportunities, but most of the money will go to help those in need,” he concluded.
According to the billionaire, his children see the foundation’s success, and he hopes they are proud of him.