Reports have confirmed that Bill and Melinda Gates’ impending divorce is unlikely to affect their children’s inheritance.
Recall that the couple is estimated to be worth $130 billion, and while it is unclear exactly how the couple intends to divide their assets, it appears the separation will have little to no impact on their children’s inheritance, and this is because they were never expected to receive much of their parents’ vast fortune.
Newsweek says that, Bill and Melinda have repeatedly expressed his intentions to leave the bulk of their wealth to charities, and only a fraction to their three kids: 25-year-old Jennifer, 21-year-old Rory, and 18-year-old Phoebe.
The report adds that the Microsoft co-founder spoke about the issue of inheritance during a 2017 AMA on Reddit, when a user asked him about his purported plans to only leave his children with $10 million each. Bill didn’t confirm that amount, but suggested his kids would receive just a small portion of his fortune.
“I definitely think leaving kids massive amounts of money is not a favor to them,” he replied. “Warren Buffett was part of an article in Fortune talking about this in 1986 before I met him and it made me think about it and decide he was right. Some people disagree with this but Melinda and I feel good about it.”
Bill made similar comments during a 2011 interview with the Daily Mail, explaining how his children have received a great deal of opportunities and advantages, but will have to put in work to create their own lives.
“It will be a minuscule portion of my wealth. It will mean they have to find their own way,” he told the outlet. “They will be given an unbelievable education and that will all be paid for. And certainly anything related to health issues we will take care of. But in terms of their income, they will have to pick a job they like and go to work. They are normal kids now. They do chores, they get pocket money.”
Well, we can’t wait to see how the divorce pans out.