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Bill And Melinda Gates Planned To Give Away 95 Percent Of Multi-Billion Dollar Fortune

Dominic Smithers

| Last updated 

Bill And Melinda Gates Planned To Give Away 95 Percent Of Multi-Billion Dollar Fortune

Bill and Melinda Gates are two of the wealthiest people in the world, with a fortune totalling around $127 billion (£91bn).

For a number of years, the couple has dedicated much of their time to philanthropic endeavors, such as vaccine development for diseases like polio and malaria.

And back in 2010, they announced they would be donating around 95 percent of their colossal fortune away, launching the Giving Pledge, which saw a number of high-profile billionaires promise to share their wealth.

At the time, Melinda said in a statement: "Philanthropy is different around the world, but almost every culture has a long-standing tradition of giving back.

"Bill and Warren [Buffett] and I are excited to welcome the new, very international group of philanthropists joining the Giving Pledge, and we look forward to learning from their diverse experiences."

Bill and Melinda Gates pledged to give away 95 percent of their wealth. Credit: PA
Bill and Melinda Gates pledged to give away 95 percent of their wealth. Credit: PA

And with so much going to charitable causes, 'just' $30m (£21m) of it is set to be split equally between their three children, Jennifer, Rory and Phoebe.

During an AMA session on Reddit a few years ago, Bill was asked about their decision to limit their children's inheritance.

The Reddit user said: "I'm not Bill Gates, but he has made a huge positive influence. Many wealthy people I know point to Bill Gates as their idol.

"Not for his Microsoft days, but for his philanthropy. He also simultaneously killed many of my friend's hundred million dollar trust funds after their parents discovered that Bill was only leaving $10 million for his children."

To which the Microsoft co-founder replied: "I definitely think leaving kids massive amounts of money is not a favor to them.

"Warren Buffett was part of an article in Fortune talking about this in 1986 before I met him and it made me think about it and decide he was right. Some people disagree with this but Melinda and I feel good about it."

I mean, $10m (£7m) each is hardly to be sniffed at.

Earlier this week, Bill and Melinda announced they were getting a divorce.

A joint statement posted to social media confirmed they had decided to split after 27 years of marriage, asking for 'space and privacy' as they moved on to the 'next phase' in their lives.

It read: "After a great deal of thought and a lot of work on our relationship, we have made the decision to end our marriage.

"Over the last 27 years, we have raised three incredible children and built a foundation that works all over the world to enable all people to lead healthy, productive lives.

"We continue to share a belief in that mission and will continue our work together at the foundation, but we no longer believe we can grow together as a couple in this next phase of our lives.

"We ask for space and privacy for our family as we begin to navigate this new life."

Featured Image Credit: PA

Topics: Billionaire, Divorce, Charity, Family, Microsoft, Social Media, US News, Technology, bill gates, marriage

Dominic Smithers
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