Bill Gates Isn’t Leaving His Fortune to His Children for an Important Reason
Bill Gates is a household name the world over. Whether he is known for Microsoft, or for being the richest man alive for a long time. Or even for his staggering charity work. There are a number of reasons people could know his name, but the fact is he is one of the most famous people alive.
And not everyone shares the same opinion of the man, that much is certain. But feelings aside it is well known he has an enormous and seemingly endless supply of money. While his title as the world’s richest man has been passed on, he could be said to be the world’s most charitable and active billionaire. Some could argue that he only lost his title because he has given away so much of his wealth.
But something that you might find shocking is the revelation Bill Gates made about his children recently. Specifically involving their inheritance.
For those that don’t know, inheritance is the system of leaving possessions and wealth to certain people of your choice after you pass away. Thinking about your own demise is never a pretty thought but preparing for it is a necessary precaution that will benefit those you leave behind.
The sad part of all this is that different countries have enacted strict and controlling inheritance laws. These laws essentially allow the government to take percentages of inheritance as a tax or limit what can be left to people and what has to be dissolved back into the public domain, such as certain properties. All these laws can be studies at inheritancelaw or by asking lawyers who specialize in creating wills.
Bill Gates, being one of the world’s richest men, has a lot of money, properties, and physical possessions to leave to his family after he dies. Many people assume that his children will have the easiest life imaginable after his passing, assuming they are simply going to inherit one of the largest fortunes in the world.
But Bill Gates recently revealed he is only leaving his children less than 1% of his fortune. And this news has shocked many people the world over. But why is he doing this and what does it mean for his children?
Bill Gates has always been a force for the charity. Having stepped away from any major duties at Microsoft, he spends most of his business time managing his medical relief charity and working as a board director for many others. And his love of charity is one of the biggest driving forces behind this inheritance decision. He plans to leave 99% of his fortune to charity. This is no small sum and will have a serious impact on millions of people.
But he also has an important life lesson hidden behind his children’s inheritance. If he simply said he would leave them his entire fortune, they would be aware that they never need to work again. They could easily become complacent and this is something he doesn’t want for them. He wants them to learn the value of hard work and appreciate money.
It is all too easy for those born into money to lose sight of its actual value. To not realize how lucky they are. Bill Gates does not want his children to be cut off from these ideals and to be more in touch with the world so that they can use the still considerable amount of money they will inherit, to build their own path and better the world in new and unique ways.