12 Rich People Who Just Want Their Kids to Grow Up Normally
There’s nothing worse than a spoiled rich kid. Nowadays, many in the ultra-rich community are realizing this, and are committing to donating their earnings to charity after their death instead of leaving it to their children.
Here are a few of the world’s richest people who have committed to allowing their children to grow up as normally as possible, without the burden of a massive inheritance.
When talking about inheritance in the billionaire sector, it’s important to talk about Bill Gates first. In 2006, after 30 years at Microsoft, Gates announced that he would be shifting his focus from the business side of his life to the philanthropic.
Bill and his wife Melinda were the first signees of The Gates-Buffett Giving Pledge — an initiative that billionaires can sign up for to show that they’re committed to giving away at least half of their wealth to charity. For the Gates’, this means giving away at least $18 billion of the $37 billion that Gates accrued as the Founder and CEO of Microsoft.
Gates has three children to whom he has committed to leaving just 5% of his wealth.
Warren Buffett is the other founder of the Gates-Buffett Giving Pledge, and has also committed to leaving the vast bulk of his wealth to charity after his death. He made the majority of his wealth as the CEO of conglomerate company Berkshire Hathaway, which owns large stakes in brands such as Dairy Queen, GEICO, Coca-Cola, and Wells Fargo — among many, many others.
Although he’s consistently ranked among the world’s wealthiest people since 1990, he doesn’t have a cellphone or a laptop, and drives his own car to work every day. He says that he plans on leaving enough money to his family so his children can choose whatever work makes them happy.
Another signee of the Gates-Buffett Giving Pledge, Pierre Omidyar is one of the youngest billionaires in the world. After founding EBay and PayPal, he became a billionaire at only 31 years of age. Although he isn’t involved directly in the day-to-day management of his companies anymore, he is still the largest shareholder of EBay. After leaving management behind, he founded his own philanthropic foundation, the Omidyar Network.
Omidyar and his wife Pam are the single biggest donors to organizations fighting against human trafficking.