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My children won't get all my money: Gates

Microsoft chairman Bill Gates says he does not want to leave his entire wealth to his children but would rather give some back to society.

india Updated: Nov 12, 2002 21:39 IST

Software billionaire and Microsoft chairman Bill Gates, who has an estimated personal wealth of $ 42 billion, says he does not want to leave his entire wealth to his children but would rather give some back to society.

"I do not think it is constructive to grow up having billions of dollars. The idea that I will take a sizeable portion of my fortune and have them (children) in care of that, I do not think would be to society's benefit or to their benefit," Gates said replying to a specific query.

Gates, whose Microsoft Corporation rules over a major part of software used in desktops across the globe, has an estimated personal wealth of $ 42 billion.

The software icon, had on Monday announced an assistance of $ 100 millionto combat spread of HIV/AIDS in the country. The Bill and Melinda Gates Foundation, which is spearheading the initiative across the globe to slowdown the spread of AIDS, has an overall endowment of $ 24 billion.

Gates said he had spoken about his philosophy of giving back wealth to society even 15 years ago.

First Published: Nov 12, 2002 21:39 IST