Gates to social welfare

I wrote about Bill Gates philanthropic work earlier. While Bill Gates will step down from his role at Microsoft this July, Melinda Gates talks about living with Bill, working with Warren Buffett, and giving away their billions.

And of course the kids have asked whether their parents will provide for them as generously as they do for those poor people who receive their billions. “We say, ‘You’ll be fine. You’ll still be very well-off,'” Bill says. While he and Melinda plan to give away 95% of their wealth in their lifetimes, they have not yet decided how much of what’s left will go to the children. Melinda says they will follow Warren Buffett‘s philosophy: “A very rich person should leave his kids enough to do anything, but not enough to do nothing.”

The Bill & Melinda Gates Foundation has assets of $37.6 billion, making it the world’s largest. Melinda and Bill will very likely give away more than $100 billion in their lifetimes. Great going!

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