Bill and Melinda Gates Will Not Be Leaving Children Their Fortune

At a recent TED conference in Vancouver Bill Gates, the world’s richest man, and his wife Melinda opened up about their personal lives. The pair said they would not be leaving all their wealth to their three children. The couple stated they will instead encourage their children to make their own way in the world.

Gates said that instead of just giving them money, they have given their two daughters and son a good education so they can pave their own success rather than rely on their parents’ fortune. Gates said: “We want to strike a balance so they have the freedom to do anything, but not sort of a lot of money showered on them so that they can go out and do nothing.”

Melinda Gates talked about a recent Tanzania trip she took with her eldest daughter Jen, where they stayed with a family in a rural area to learn more about the barriers to education for girls in the country. The couple stated Warren Buffet, who has taken a similar approach with his children, inspires their parenting style.

The Gates have joined the Giving Pledge, which is committed to diverting personal wealth to philanthropy, a pledge Buffet has also made. The couple argued that leaving a huge sum to their children is no good for their families or society.