The world’s richest man, Bill Gates has revealed that he won’t be leaving his £70billion fortune to his three children but instead will give it away to charity when he dies.
While talking to the media yesterday, the Microsoft creator, who has an estimated net worth of $81.7 billion, says his kids understand his decision. Speaking to Holly Willoughby and Ben Shephard, the 60-year-old said: “Well, our kids receive a great education and some money but they will go out and have their own careers.”
He also reasoned that by allowing his children, two daughters, Jennifer (20) and Phoebe (14) and a son, Rory (17), to inherit his fortune “distorts anything” they might try to do. Gates said all three were “proud” of his decision and instead of billion-dollar trust fund, they would have their own careers.
Gates said: “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.”
Gates has vowed to pass on a fraction of their vast wealth to their children while the rest will go to the couple’s charity and he added that: “This money is dedicated to helping the poorest. They know that, they are proud of that, they go on trips with us to see the work that’s being done.”
