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Microsoft co-founder Bill Gates has shared that he plans to leave his children less than 1% of his vast fortune, believing they should carve out their own paths to success rather than rely on the wealth he has built. Speaking on the podcast, Gates explained that decisions around inheritance and legacy often reflect the personal values held by each wealthy family.
"Everybody gets to decide on that," the Microsoft co-founder said, adding, in his situation, his children "got a great upbringing and education but less than 1% of the total wealth."
"It's not a dynasty, I'm not asking them to run Microsoft. I want to give them a chance to have their own earnings and success," Mr Gates said. Mr Gates shares three children with his ex-wife Melinda French - Rory Gates, Jennifer Gates Nassar, and Phoebe Gates. The 69-year-old told Mr Shamani that he did not want his children to be "overshadowed by the incredible luck and good fortune [their father] had," but rather to be "significant" in their own right.
He added that he did not want his children to "ever be confused about your support for them and your love for them." He believed it was important to communicate one's attitude towards children early on about giving them "incredible opportunities." The "highest calling for these resources is to go back to the neediest through the foundation," he said.
Bill Gates, worth $155 billion, plans to leave his children less than 1% of his wealth, aligning with other tech billionaires like Steve Jobs and Jeff Bezos who favor philanthropy over generational wealth. Meanwhile, Gates' youngest daughter, Phoebe Gates, is forging her own path as an entrepreneur. The 22-year-old Stanford graduate recently launched a podcast and fashion platform, addressing the "Nepo Baby" label and expressing her desire to build her own identity and success.
According to reports, Phoebe's passion for fashion goes back to at least 2022, when she shared her inspirations in an interview with WWD. She pointed to her mother's close relationship with renowned designer Stella McCartney—daughter of Beatles icon Paul McCartney—as a major influence. Phoebe highlighted how McCartney demonstrated that those born into privilege could use their status to drive meaningful change.
As she reflected on her own path, Phoebe emphasized her determination to step out of her family's shadow and create her own legacy. With the launch of The Burnouts and her upcoming project Phia, she is beginning her journey into the sustainable fashion space, aiming to make a lasting impact.