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Imagine being the child of one of the richest people on the planet—and finding out you’re not inheriting billions. Yep, that’s the real-life scenario for the Gates kids. Microsoft co-founder and richest list veteran inductee Bill Gates has gone out of his way to describe how his children won’t inherit all the money he’s accumulated over the years.

Each of his three children will inherit just $10 million—a drop in the bucket from his estimated total, which briefly exceeded $130 billion. Huh? Why wouldn’t a person leave their fortune to their children?

It’s Not About the Money—It’s About the Message

Bill Gates’ argument is simple but persuasive: “Leaving children huge sums of money isn’t a favor to them.” Instead of being raised heirs to wealth, he would rather raise self-reliant, ambitious adults who earn their keep.

He and his ex-wife, Melinda French Gates, have been longtime proponents of raising their children with a sense of normalcy and purposefulness. Despite being raised in privilege, their kids were assigned chores, TV-watching limits, and work ethic expectations at school. The lesson? Money is not a crutch—it’s a tool.

The Rise of the “Give While You Live” Philosophy

Gates is among a rising chic set of ultra-high-net-worth individuals who have vowed to leave most of their money to philanthropy rather than taking it with them. He is accompanied by Warren Buffett and others in signing The Giving Pledge, a call to action to billionaires to donate most of their fortunes during their lifetimes or in their wills.

The reward? Employ their funds to end poverty, disease, and environmental devastation. Instead of building family empires, they’re building a better world.

So, What Are His Kids Doing?

You might ask yourself, what do Bill Gates’ children have to say about it? Well, as fate would have it, they’re doing well.

• Jennifer Gates, the eldest, is a horseback rider and medical doctor who carves out her own niche in the medical field.
• Rory and Phoebe Gates have also followed suit with their schooling and interests, having grown up with the realization that their destinies are their own.

They’ll never be broke, of course – $10 million is still a tremendous amount – but they were raised to be givers, not takers.

What It Says About Legacy Today

Gates’ plan does exactly the opposite of the old maxim of “leave your kids everything.” And it’s not only for billionaires – lots of parents these days are rethinking what it means to leave a legacy. Here’s what that looks like:

• Less dollars, more values: Demonstrating responsibility, empathy, and work ethic to children is worth more than a legacy.
• Giving while living: More and more, people want to see the impact of their giving in their lifetime, not waiting for a will to be triggered.
• Raising children, not spoiling them: Teaching children how to find purpose in their work, not merely subsisting on another’s.

Final Thoughts

Bill Gates isn’t changing technology – he’s changing legacy. By not investing in building a money bubble for his kids but rather in giving back to the world, he’s saying one heck of a thing: Wealth is not inheritance, it’s influence.

The next time someone says, “I’m doing this for my kids,” ask them what that means. Is it cash? Or is it about building character, confidence, and a world better for all?

It seems that the best thing you can give your kids, at times, is the knowledge that they don’t need your billions to live.