Despite having already given more than £30bn of his wealth to charity so far, world’s richest man Bill Gates has revealed he won’t be leaving his £70billion fortune to any of his three children, instead he will give it away to the poorest countries when he dies.
Appearing on ITV’s This Morning, the Microsoft founder, 60, who has an estimated net worth of $81.7 billion, says his kids understand his decision.
Speaking to Holly Willoughby and Ben Shephard, the businessman turned philanthropist said instead of billion-dollar trust funds, the children would have their own careers, TheSun learnt.
“Well, our kids will receive a great education and some money so they are never going to be poorly off but they’ll go out and have their own career. It’s not a favour to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path.”
Laughing, he added they would never go short saying ”They are never going to be poorly off’.
Bill has previously hinted his children would get less than $10million when he died while the rest will go to the ‘Bill and Melinda Gates Foundation’, which gives grants of around £4bn a year to good causes such as tackling poverty and disease.
“This money is dedicated to helping the poorest. Our children know that, they are proud of that, they go on trips with us to see the work that’s being done.”
In another interview, Bill said his children would not take over the foundation’s work after him and he expected all the money to be spent soon after his death.
He told the Evening Standard:
”It’s not a dynasty. They’re going to find their own careers.
“I hope with whatever resources they accumulate, they are generous, but the Gates Foundation will spend its resources within a period of time after Melinda and I are there to run it. It’s not some inherited type deal.”
Bill and his 52-year-old wife Melinda Gates have three children together, Jennifer, 20, Rory, 17, and Phoebe, 14.
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