Bill Gates will donate his weath to charity, not his children

Microsoft founder, investor and philanthropist Bill Gates, on Thursday, explained his decision to donate a large sum of his over $81.7 billion (around Rs 5.45 lakh crore) wealth not to his children, but to charity.

According to a Daily Mail report, in a televised interview on 'This Morning', Gates stated that his children, Jennifer (20), Rory (17) and Phoebe (14), are "proud" that his wealth would go to the Bill and Melinda Gates Foundation, which is the largest private foundation in the world, and supports education and health initiatives around the world. 

The founder who turned 61 on Friday, explained that his children will only be provided with a great education to launch their own careers, but would never go off poorly as he would ensure a financial "safety net" for them. 

“Our kids will receive a great education and some money so they are never going to be poorly off but they’ll go out and have their own career. It’s not a favour to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path,” Gates was quoted saying.