X
theAsianparent Malaysia Logo
theAsianparent Malaysia Logo
EnglishMalay
  • Becoming a Parent
    • Project Sidekicks
    • Pregnancy
    • Losing A Baby
    • Conceiving a Baby
    • Adoption
    • Labour & Delivery
  • Ages & Stages
    • Baby
    • Child
    • Pre-Teen & Teen
  • Parenting
    • Parenting Tips
    • Marriage, Relationship & Sex
    • Viral News
  • Health
    • Illness
    • Allergy & Syndrome
    • Vaccinations
  • Breastfeeding & Nutrition
    • Breastfeeding
    • Healthy Meal Tips
    • Formula
  • Education
    • Preschool
    • Primary School
    • Middle School
    • Special Education
  • Money Parenting
    • Tips for Parents
    • Tips for Toddlers
    • Tips for Older Kids
    • The 5 Personas
  • Lifestyle
    • Money
    • Contests & Promotions
    • Holiday
    • Spirituality
    • Home
  • TAP Recommends
  • Press Room
  • Products

Why Bill Gates isn’t leaving his $82B fortune to his children

1 Nov, 2016
Why Bill Gates isn’t leaving his $82B fortune to his childrenWhy Bill Gates isn’t leaving his $82B fortune to his children

The world’s richest man explains why he wants his children to find their own way

In a rare appearance on British talk show This Morning, Bill Gates explained why he’ll be donating his US$82 billion fortune to charity instead of leaving it to his children, Metro reports.

Instead of leaving billion-dollar trust funds to their kids, Gates, 60, and his wife Melinda, 52, are encouraging their children to pursue their own careers instead.

"It's not a favour to kids to have them have huge sums of wealth"

"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," he explained.

 

"It's not a favour to kids to have them have huge sums of wealth," he continued. "It distorts anything they might do, creating their own path.”

Almost all of Gates’ fortune will be donated to the Bill and Melinda Gates Foundation, which is the largest transparently operated private foundation in the world, according to SFGate. The foundation aims to alleviate poverty around the world with education and healthcare.

On the next page: why we should be careful about leaving our children large sums of wealth.

The world’s richest man has a point. By concentrating on equipping his children with good education and just enough, he lessens the risk of them being complacent and lazy. In a Forbes article titled “Why Family Wealth Is A Curse”, Deborah Jacobs (who comes from the family that founded Georgia-Pacific Corporation) writes:

The biggest curse of intergenerational wealth for me and many other people is the illusion that you don’t have to do much with your life. You might want to and you might make the effort, but you don’t have the same pressure to earn enough to live on. And that takes away a lot of the incentive to find meaningful work.

Gates' kids "proud" of his decision

Gates explained that his children have come with him and his wife to trips around the world to see how their money is helping other people. His children understand his reasoning, and are even proud of how their dad is committed to making a difference.

According to Metro, Gates’ oldest child Jennifer, 20, is studying at Stanford University, taking up biology. Rory, 17, and Phoebe, 14, live with their parents in their home near Seattle, Washington.

Partner Stories
Lotus’s Baby Fair Kembali Lagi! Rebut Promosi Terhebat Barangan Keperluan Bayi Anda Di Sini!
Lotus’s Baby Fair Kembali Lagi! Rebut Promosi Terhebat Barangan Keperluan Bayi Anda Di Sini!
Hanya Satu Tempat Untuk Semua Keperluan Bayi Anda - Pesta Bayi Lotus’s Malaysia!
Hanya Satu Tempat Untuk Semua Keperluan Bayi Anda - Pesta Bayi Lotus’s Malaysia!
Rangsang Pemikiran Kreatif Dan Imaginasi Anak Dengan Cara Mudah Ini!
Rangsang Pemikiran Kreatif Dan Imaginasi Anak Dengan Cara Mudah Ini!
Udara Di Dalam Rumah 2 Kali Ganda Lebih Tercemar Dari Udara Luar? Ini 5 Tips Dari Dr Amanda Untuk Anda Ubah Kualiti Pengudaraan!
Udara Di Dalam Rumah 2 Kali Ganda Lebih Tercemar Dari Udara Luar? Ini 5 Tips Dari Dr Amanda Untuk Anda Ubah Kualiti Pengudaraan!

(Lead image: Wikimedia Commons)

Be sure to check out theAsianparent Community for more insightful stories, questions, and answers from parents and experts alike. If you have any insights, questions or comments regarding the topic, please share them in our Comment box below. 

Got a parenting concern? Read articles or ask away and get instant answers on our app. Download theAsianparent Community on iOS or Android now!

img
Written by

Cristina Morales

  • Home
  • /
  • Berita Tular
  • /
  • Why Bill Gates isn’t leaving his $82B fortune to his children
Share:
  • Bill Gates Kata Umur Terbaik Untuk Beri Telefon Pintar Pada Anak Anda Ialah...

    Bill Gates Kata Umur Terbaik Untuk Beri Telefon Pintar Pada Anak Anda Ialah...

  • 5 tip keibubapaan bijak yang boleh kita belajar dari Bill Gates, bekas CEO Microsoft

    5 tip keibubapaan bijak yang boleh kita belajar dari Bill Gates, bekas CEO Microsoft

  • Bayi Lahir Dalam Pesawat, Nasib Baik Ada Doktor Dalam Flight! Dinamakan Sempena Nama Kru Kapal!

    Bayi Lahir Dalam Pesawat, Nasib Baik Ada Doktor Dalam Flight! Dinamakan Sempena Nama Kru Kapal!

  • Sampainya Hati! Gara-Gara Lahir Berkulit Hitam, Ibu Bapa Bayi Ini Sanggup Membuangnya!

    Sampainya Hati! Gara-Gara Lahir Berkulit Hitam, Ibu Bapa Bayi Ini Sanggup Membuangnya!

app info
get app banner
  • Bill Gates Kata Umur Terbaik Untuk Beri Telefon Pintar Pada Anak Anda Ialah...

    Bill Gates Kata Umur Terbaik Untuk Beri Telefon Pintar Pada Anak Anda Ialah...

  • 5 tip keibubapaan bijak yang boleh kita belajar dari Bill Gates, bekas CEO Microsoft

    5 tip keibubapaan bijak yang boleh kita belajar dari Bill Gates, bekas CEO Microsoft

  • Bayi Lahir Dalam Pesawat, Nasib Baik Ada Doktor Dalam Flight! Dinamakan Sempena Nama Kru Kapal!

    Bayi Lahir Dalam Pesawat, Nasib Baik Ada Doktor Dalam Flight! Dinamakan Sempena Nama Kru Kapal!

  • Sampainya Hati! Gara-Gara Lahir Berkulit Hitam, Ibu Bapa Bayi Ini Sanggup Membuangnya!

    Sampainya Hati! Gara-Gara Lahir Berkulit Hitam, Ibu Bapa Bayi Ini Sanggup Membuangnya!

Get advice on your pregnancy and growing baby. Sign up for our newsletter
  • Conceiving a Baby
    • Adoption
    • Pregnancy
    • Labour & Delivery
    • Marriage, Relationship & Sex
  • Baby
    • Baby Names
    • Ages & Stages
    • Parenting Tips
    • Breastfeeding & Nutrition
  • Health
    • Fitness
    • Allergy & Syndrome
    • Illness
    • Healthy Meal Tips
  • Education
    • Preschool
    • Primary School
    • Middle School
    • Special Education
  • Lifestyle
    • Home
    • Money
    • Holiday
    • Contests & Promotions
  • More
    • TAP Community
    • Advertise With Us
    • Contact Us
    • Become a Contributor


  • Singapore flag Singapore
  • Thailand flag Thailand
  • Indonesia flag Indonesia
  • Philippines flag Philippines
  • Malaysia flag Malaysia
  • Sri-Lanka flag Sri Lanka
  • India flag India
  • Vietnam flag Vietnam
  • Australia flag Australia
  • Japan flag Japan
  • Nigeria flag Nigeria
  • Kenya flag Kenya
© Copyright theAsianparent 2022. All rights reserved
About Us|Team|Privacy Policy|Terms of Use |Sitemap HTML
  • Tools
  • Articles
  • Feed
  • Poll

We use cookies to ensure you get the best experience. Learn MoreOk, Got it

We use cookies to ensure you get the best experience. Learn MoreOk, Got it

theAsianparent heart icon
Kami ingin menghantar anda pemberitahuan untuk berita terkini dan gaya hidup terkini.