While most of us are under the impression that kids of wealthy parents would be heirs of the family's inheritance, these famous billionaires tend to think otherwise.
These kids of billionaires will not be inheriting their parent's wealth
These billionaires' kids won't be lucky when it comes to inheritance
The world's wealthiest individuals, such as Bill Gates and Warren Buffet, have instead opted to donate a huge amount of their fortune to charity.
Business Insider SSA gives you a list of the business moguls who won't be leaving a fortune with their kids:
1. Facebook CEO, Mark Zuckerberg
During the birth of their first child Max in 2015, the Facebook founder alongside his wife said that they had no intentions to leave her their billions. Instead, the two vowed to channel a huge chunk of their wealth towards an initiative that Zuckerberg formed dubbed ‘Chan-Zuckerberg Initiative.’
The foundation is dedicated to personalized learning, curing disease, connecting people and building strong communities around the world. “We will give 99 percent of our Facebook shares — currently about $45 billion — during our lives to advance this mission," read the couple’s post on Facebook.
2. Microsoft Co-founder, Bill Gates
The richest man in the world is known for his philanthropy. And even though a good fraction of his wealth would see his kids become among the wealthiest individuals in the world, the Microsoft Co-founder believes leaving them with huge sums of wealth will distort anything they might do.
And while he encourages his three kids to get careers and have jobs, Bill Gates says that they don’t have to worry as he’ll provide some little money to ensure they all don’t become destitute.
Together with his wife, they’ve dedicated most of their fortune to the Bill and Melinda Gates Foundation to help reduce extreme poverty in the world.
3. American Business Magnate, Warren Buffett
Buffett plans on leaving each of his three children with $2 billion. Even though it seems like a lot of money, it comes nowhere near his $77 billion fortune.
He says that he’d love to leave his kids 'enough money so that they would feel they could do anything, but not so much that they could do nothing.'
Buffett plans on donating more than 99 per cent of his wealth to charity during his lifetime through the Giving Pledge initiative.
4. EBay Founder, Pierre Omidyar
Omidyar stated that he would give a vast majority of his wealth to the Giving Pledge initiative. He noted that he and his wife Pam have enough money hence sees no need to leave his wealth behind to the kids.
The couple has already donated more than a billion dollars towards philanthropy since eBay became public.
5. Google CEO, Larry Page
The 44 year old has no inheritance plans for his two kids. Page, who is valued at $44 billion, said that he’d rather channel his funds towards supporting a visionary entrepreneur like Musk, who helped found Tesla, PayPal and SpaceX among other ventures.
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