Ashton Kutcher And Mila Kunis Are Not Leaving Fortune To Their Kids

Bill Gates has $108 billion reasons to leave his kids set for, well, many, many generations. However, he’s planning to leave “only” $10 million to each of his three children. During a Reddit “Ask Me Anything” forum in 2013, he said: “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.” Warren Buffett has pledged 100% of his $82 billion to charity. He’s not leaving his children money either. He has, however, promised to give $2.1 billion of Berkshire Hathaway stock to each of his kids’ designated charities. Buffett has long been an opponent of the concept of dynastic wealth – basically the pattern of families passing money down from one generation to the next. In 2007, he said: “Dynastic wealth, the enemy of a meritocracy, is on the rise. Equality of opportunity has been on the decline.” Consider that, since 2007 the tech boom has created a whole new class of billionaires like Mark Zuckerberg, Sergey Brin, Larry Page, etc.  Dynastic wealth is a factor in the widening gap between the rich and the poor. Dynastic wealth creates trust fund babies. It is estimated that $68 trillion will be passed down by older generations over the next few decades. Called the “Great Wealth Transfer” in a report from Coldwell Banker, it said that “by 2030 millennials will hold five times as much wealth as they have today.” Good for Ashton Kutcher and Mila Kunis!