Bill Gates Announces His Children Will Inherit Less Than 1% of Wealth

SEATTLE, Wash. — Billionaire philanthropist Bill Gates revealed in a recent podcast interview that his children will inherit less than 1% of his estimated $162 billion fortune. During the episode of ‘Figuring Out With Raj Shamani,’ Gates discussed his beliefs on wealth distribution and the importance of self-earned success for his offspring.

‘In my case, my kids got a great upbringing and education but less than 1% of the total wealth because I decided it wouldn’t be a favor to them,’ Gates stated. The Microsoft co-founder emphasized that he wants his children—Jennifer, Rory, and Phoebe—to pursue their own careers and successes without being overshadowed by their father’s fortune.

‘I want to give them a chance to have their own earnings and success,’ Gates explained. He has previously indicated that each child would receive about $10 million, which he believes is sufficient without being detrimental to their individual aspirations.

Gates also underscored his commitment to philanthropy through the Bill & Melinda Gates Foundation, prioritizing aid for the world’s neediest over passing down wealth to his family. ‘The highest calling for these resources is to go back to the neediest,’ he said, reinforcing a narrative shared by other wealthy technology leaders who favor philanthropic efforts.

As of December 2024, Gates’ net worth is approximately $104.7 billion, making his children’s inheritance, even at less than 1%, a substantial amount. However, this decision places Gates among a growing number of affluent individuals who aim to break the cycle of dynastic wealth. ‘People who’ve made fortunes from technology are less dynastic,’ he noted, suggesting a trend of giving away capital instead of retaining it for future generations.

The sentiment aligns with views expressed by other notable figures in the tech industry, including Laurene Powell Jobs and Jeff Bezos, who also prioritize philanthropy over legacy wealth transfer. Jobs, the widow of Apple co-founder Steve Jobs, has stated her intention to use her inheritance for charitable purposes rather than to leave wealth for her children. Similarly, Bezos has publicly committed to donating much of his fortune to philanthropic causes.

Looking back on his career, Gates acknowledged public mistakes, such as the failure of Microsoft’s phone operating system, as well as ongoing challenges like the search for an HIV vaccine. He emphasized the need for his children to learn resilience and independence, stating, ‘You don’t want your kids to ever be confused about your support for them and your love for them.’