The Bank of Mum and Dad

1 Ever wonder what it would be like to be the children of the second-richest couple in the world? One would think it would be all private jets, sun-kissed holidays, and amazing cars that cost more than mid-size homes. It sounds amazing, but for the children of Bill and Melinda Gates, it's not exactly reality. The billionaire philanthropist wants to teach his children to follow their own path. To that end, Bill Gates is not leaving his fortune to his children. As Bill Gates and his wife Melinda know a little something about parenting, self-reliance and independence are two of the greatest gifts you can give your children, even if it seems like billions and billions of dollars would also be an acceptable gift. The founder of Microsoft recently announced that he would be leaving his billion dollar fortune to charity instead of his children (Jennifer, 20, Rory, 17, and Phoebe, 14). He said, "It's not a favour to kids to leave them huge sums of wealth, as it distorts anything they might do, creating their own path." He and wife Melinda will naturally make sure their children aren't left destitute , and plan to pay for their college. However, beyond that, he wants his children to learn to take care of themselves. He added, "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." The Bill and Melinda Gates Foundation is the largest transparently run grant foundation in the world. The foundation is worth over 80 billion dollars, and has made great strides all over the world to carry out their mission to better the next generation with access to healthcare and education. The Gates family, instead of simply living off the proceeds of their Microsoft fortune, has made philanthropy a top priority and the Gates' children are no exception. Gates said in a rare interview, “This money is dedicated to helping the poorest. They know that, they are proud of that, they go on trips with us to see the work that's being done." The Gates' children could have looked forward to lives without obstacles . They would not have had to worry about their careers, or their security, or anything other than themselves. Instead, their parents have had the forethought to protect them from such an aimless existence. (Reading text adapted from romper)