“Won’t be a favor to them” - Bill Gates reveals how much money his three kids with Melinda Gates will inherit

Bill Gates wants his children to be self-made and independent!

One of the wealthiest individuals on earth, 69-year-old Gates is the co-founder of Microsoft and a renowned philanthropist. Recently, while speaking to Raj Shamani on his podcast, the billionaire revealed that he will leave only 1% of his wealth for his children. He said:

"My kids got a great upbringing and education but less than one per cent of the total wealth because I decided it wouldn’t be a favour to them," Gates told Shamani. "It’s not a dynasty, I’m not asking them to run Microsoft. I want to give them a chance to have their own earnings and success."

Gates further stated that he didn't want his children to be overshadowed by the incredible luck and fortune that his father had:

"You don’t want your kids to ever be confused about your support for them and your love for them. So I do think explaining early on your philosophy: that you’re going to treat them all equally and that you’re gonna give them incredible opportunities, but that the highest calling for these resources is to go back to the neediest through the foundation."

Gates shares three children with his former wife Melinda Gates—Jennifer, 28; Rory, 25; and Phoebe, 22. Gates and Melinda separated after being married for around 27 years.

It is also worth noting that 1 percent of Bill Gates's wealth will be around $1.55 billion, as his total net worth is around $155 billion. On Shamani's podcast, Gates also spoke about why he made this decision. He said that all his children have had a great upbringing and good education, and that he wants them to have a chance at their own earnings and success.

Previously, Bill Gates told the Daily Mail that he would give $10 million each to his kids and that leaving huge amounts of money to his children is not a favor to them. Gates has announced that a large percentage of his wealth will go to his charity trust Bill Gates and Melinda Gates Foundation.

How much money does Bill Gates have?

Bill Gates is one of the richest men on the planet and though asked multiple times, the tycoon has never commented on his net worth. His estimated net worth is around $102.3 billion, according to Forbes.

A Harvard graduate, Gates stepped down from the position of the Director of Microsoft Corporation, the world's leading software giant. As per a report by Bloomberg, Gates has received around $60 billion in stock and dividends from Microsoft and other companies as well. This also includes a $3.3 billion payout in 2004 from Microsoft which he donated to Bill Gates and Melinda Gates Foundation.

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A majority of Gates's fortune comes from Cascade Investment, a holding company created from the proceeds of Microsoft stock sales and dividends. The company owns stakes in many public companies which are valued individually using disclosed share counts.

At the time of Bill and Melinda's divorce, $5 billion in stocks were transferred to Melinda Gates.

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