Microsoft co-founder and great philanthropist Bill Gates recently talked about his inheritance and stated that his children won’t inherit the vast majority of his wealth. Gates said his kids get less than one percent of his wealth. However the Microsoft co-founder’s 1 percent still represents billions of dollars. As per Bloomberg Billionaire’s Index the current net worth of Bill Gates is USD 162 billion and 1 percent of it is 1.62 billion. as per Forbes his wealth is USD 107 billion and one percent of it is still worth more than a billion dollars. Although Bill Gates children will inherit less than their father their wealth will still likely place them among the wealthiest one percent globally a group defined by Knight Frank as possessing assets of USD 5.8 million or more. While speaking at Raj Shamani podcast - the Figuring Out this week Gates state that the way wealthy families handle inheritance is determined by their individual values. “Everybody gets to decide on that. In my case my kids got a great upbringing and education but less than 1% of the total wealth because I decided it wouldn’t be a favour to them. It’s not a dynasty I’m not asking them to run Microsoft. I want to give them a chance to have their own earnings and success” Gates said during the podcast. Earlier he told the Daily Mail that he would will give his kids USD 10 million each. He stated that providing more would not be beneficial. It remains unclear if his views have evolved to reflect a one percent charitable contribution of his wealth. In Shamani’s podcast the Microsoft co-founder expressed that he wanted his kids to be “significant” in their own right and not to get “overshadowed by the incredible luck and good fortune their father had.” “You don’t want your kids to ever be confused about your support for them and your love for them. So I do think explaining early on your philosophy: that you’re going to treat them all equally and that you’re gonna give them incredible opportunities but that the highest calling for these resources is to go back to the neediest through the foundation” he said. Notably the billionaire’s kids have seen their father and mother’s work on major causes like polio water sanitation and providing vaccine to the needy against dreadful diseases. “I’ve seen cases where kids actually tell their parents to be more philanthropic. I think the younger generation sometimes actually is pushing against this idea of the wealth just being passed down” Gates said. Neither Bill Gates nor Laurene Powell Jobs widow of Steve Jobs intends to leave their substantial fortunes to their children. Powell Jobs stated that her late husband did not wish to create a legacy of inherited wealth echoing a similar decision by Gates.