Bill Gates donates 99% of his wealth to his fourth heir son – people – culture

In a surprising but deeply thought-out decisionMicrosoft co-founder Bill Gates announced that he would leave 99% of his wealth to his children, considering that they did not need “enormous wealth”.

(Read more: Bill Gates reveals what he recommends investing in today, this is what he said).

Gates, a famous philanthropist and defender of social causes, expresses that the utility of money lies in its ability to create a positive impact on the world, and not in the accumulation of personal wealth.

“Money is of no use to me beyond a certain point. Its usefulness lies only in building an organization And give resources to the poorest people in the world,” Gates expressed in one of his most notable quotes.

Currently, according to ‘Forbes’, Gates ranks seventh among the world’s richest businessmen.

(Continue reading: Bill Gates’ habit to have a good memory at 68).

At the age of 68, his net worth is $124.5 billion, a staggering figure that does not give him any satisfaction, unlike the time he spends with his family, friends and actions that generate positive social impact. As he has expressed in various interviews.

This situation justifies his decision to give less than 1% of his wealth to each of his children.

“Our children will get a good education and some money, so they will never be poor, but they will have their own careers,” the tycoon said in an interview with ‘This Morning’.

(You may be interested in: New predictions from Bill Gates after the emergence of AI and what will happen in a few years).

Since stepping down from Microsoft’s board of directors in March 2020, Gates has channeled his efforts into philanthropy, investing in educational projects, Initiative against climate change and global health promotionAlso became one of the major owners of extensive agricultural plots in the United States.

Who is the ‘Fourth Son’?

Although Gates and his ex-wife, Melinda French, have decided to give only a minimal portion of their fortune to their three children, Jennifer, Rory and Phoebe, they are clear about who will be the main beneficiary of their legacy: the Bill and Melinda Gates Foundation, which they have named their Believes “fourth child”.

According to Forbes, Melinda decided to donate a significant portion of her fortune, which is $10.6 billion out of $52.5 billion. As she expressed herself, it seemed to her “It is absurd that so much wealth is concentrated in the hands of one person”.

(You can see: Project Bill Gates installed in Colombia to help with this event).

The Gates Foundation, dedicated to promoting healthy and productive lives for all, will receive 99% of Gates’ estate.

With ambitious plans for the future, the foundation aims to allocate $9 billion annually to innovative projects including epidemic prevention, reducing infant mortality and improving food security.

Each of the Foundation’s goals has been the subject of criticism and doubt as to the true intentions of its founding members. Despite the fact that the enormous influence accumulated by the Gates Foundation is questioned It presents itself as an apolitical entity.

(You may also like: President Gustavo Petro met with Bill Gates in Davos: What did they talk about?).

An example of this is the significant importance of foundations in the World Health Organization (WHO), which is the second largest donor after the US government.

In fact, the Gates Foundation alone is responsible for more than 88% of the total donated by philanthropic foundations. Some also point to other reasons why Gates chooses to transfer his legacy to the foundation.

“If he were to pass his estate on to his descendants, he would face a substantial inheritance tax that would kick in after his death. By making charitable gifts in the form of stock, he and his heirs could avoid this tax. Transferred almost all of his wealth to philanthropic institutionsBillionaires like Gates are contributing significantly to the permanent redistribution of wealth,” according to an article published in ‘The New Yorker.’

Who are the descendants of Bill Gates and Melinda?

The eldest, Jennifer, completed her master’s degree in public health at Columbia University last year, where she received the Excellence in General Public Health Award after studying biology at Stanford.

She is married to Egyptian gentleman Nayal Nasser, with whom she had a daughter in 2023. This has been one of the best years for Gates, as he has “become a grandfather,” as he wrote in his reflections last year. The birth of his granddaughter has made him reflect About the world he wants to leave his little girl.

(Continue reading: This is how AI will change human life in just five years, according to Bill Gates).

Rory, on the other hand, an “intelligent, educated and feminist” young man, as Melinda proudly described him in an interview with ‘Time’, graduated from the University of Chicago with a “double major and master’s degree” and achieved this. degree. In just four years.

As for Phoebe Gates, she often accompanies her father to charity events, even giving speeches. She is a student at Stanford and an activist for reproductive rights and gender equality.

Last October, she posted a photo in Paris with her new boyfriend, investor Arthur Donald, thus confirming their relationship. Grandson of former Beatle Paul McCartney.

More news

– Bill Gates’ predictions about AI for 2024 that have already come true

– Bill Gates: ‘Predictions’ about the future of humanity and artificial intelligence

– Bill Gates: How much he earns every day and what he invests his fortune

*Based on information published by O Globo de Brasil (GDA), this content was rewritten with the help of artificial intelligence and reviewed by a journalist and editor.