In an interview with the Independent, Gates stated: "If I designed the tax system, I would be tens of billion dollars poorer than I am." He emphasizes the need for a more progressive tax system that doesn't discourage innovation.
Gates articulated his stance on inheritance and wealth, saying: "I don't think we should generally generationally let families whose great grandfather, through luck and skill, accumulated a lot of wealth, have the economic or political power that comes with that."
Reflecting on his children's inheritance, Gates mentioned: "They will only inherit a tiny fraction of my fortune - $10 million each - which is barely a dent in my net worth of about $158 billion."
Gates, alongside Warren Buffett, established the "Giving Pledge" which motivates the ultra-wealthy to donate the majority of their wealth to charitable causes, highlighting his commitment to philanthropy.”
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