Tycoons Who Prefer Leaving Their Fortunes to Charity Rather Than Their Children

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July 15, 2014 3:40 PM EST

Some wealthy people leave a large part of their fortune to their family and donate a little amount to charity.

Reuters
Billionaire philanthropist Bill Gates attends a news conference at the Global Alliance for Vaccines and Immunisation (GAVI) conference in London June 13, 2011. REUTERS/Paul Hackett

But some prefer to leave their fortune to charity rather than their children.

Here's a snapshot:

1.       Pierre Omidyar

Company: eBay

Net worth: $ 7.9 billion

Children: Three

  • He and wife Pam have given away more than $1 billion of the vast fortune they made when eBay went public in 1998 and huge amount of money to fight human trafficking.
  • They signed the Giving Pledge in 2010. (SOURCE)

2.       Warren Buffet

Company: Berkshire Hathaway

Net worth: $65.9 billion

Children: Three

"I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing," he said in a letter to the Gates Foundation.

3.       Michael Bloomberg

Company: Bloomberg

Net worth: $34.3 billion

Children: Two

"If you want to do something for your children and show how much you love them, the single best thing - by far - is to support organizations that will create a better world for them and their children. And by giving, we inspire others to give of themselves, whether their money or their time." (SOURCE)

4.       Bill Gates

Company: Microsoft Inc.

Net worth:  78.9 billion

Children: Three

"I definitely think leaving kids massive amounts of money is not a favor to them. Warren Buffett was part of an article in Fortune talking about this in 1986 before I met him and it made me think about it and decide he was right. Some people disagree with this but Melinda and I feel good about it.," he said in a Reddit AMA in February 2013.

5.       Bernard Marcus

Company: Home Depot

Net worth: $3.6 billion

Children:  Three

Marcus will donate his wealth to the handicapped and educator sector because he does not want to spoil his children.

6.       Simon Cowell

Company: Syco

Net worth: $95 million

Children:   1

"I'm going to leave my money to somebody. A charity, probably-kids and dogs," he told the Mirror. "I don't believe in passing on from one generation to another."

(Photo: Reuters / )
Billionaire philanthropist Bill Gates attends a news conference at the Global Alliance for Vaccines and Immunisation (GAVI) conference in London June 13, 2011. REUTERS/Paul Hackett
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