Microsoft cofounder Bill Gates plans to pass down less than 1% of his wealth to his children, following the trend of other tech titans who are prioritizing philanthropy over generational wealth.
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00:00Bill Gates might be one of the richest people in the world, but he plans to leave his children less than 1% of his wealth.
00:06The Microsoft co-founder told the Figuring Out with Raj Chamani podcast that he wouldn't be doing his three children, Jennifer, Rory, and Phoebe, any favors by giving them more.
00:16According to the Bloomberg Billionaires Index, the 69-year-old is currently worth $161 billion.
00:23So, even if the three Gates children only inherit 1% of their father's wealth, they'll still be cashing in around $1.6 billion.
00:31His reason? The billionaire said he doesn't want his children to be overshadowed by their father's good fortune, and he'd rather they find their own success.
00:40Gates follows the trend of other tech titans who say they prioritize philanthropy over passing down generational wealth.