The world’s second-richest man does not want to leave his $78 billion fortune to his three children. Bill Gates and his wife are encouraging their children to go to college, get jobs, and have careers. Gates believes that leaving your children huge sums of wealth does not do them any favors, distorting their destiny. The Gates will, however, provide their children with a safety net.
See Amy Graff, Bill Gates Explains Why He’s Not Leaving His Fortune to His Children, SF Gate, October 27, 2016.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
