Bill Gates said in an interview on This Morning he wants his children to create their own path in life.
He and his wife Melinda, 52, have pledged to give almost everything to their charitable foundation helping the world's poorest.
And today the billionaire appeared on ITV's this morning where he explained his three kids are "proud" of their parents's decision to give away their inheritance.
He said: "Our kids will receive a great education and some money so they are never going to be poorly off but they'll go out and have their own career.
"It's not a favour to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path."Bill Gates will leave only a tiny fraction of his £74bn fortune to his three children
The Microsoft founder said money would distort his kids' lives and has pledged to give his fortune to charity.
Bill and Melinda have three children - Jennifer, 20, Rory, 17, and Phoebe, 14.
Rory and Phoebe are believed to at school and live at home with their parents near Seattle, US.
Jennifer is in her second year at Stanford University in California, where her father donated £5million to build a computer science lab in his name.
She is also an accomplished equestrian, riding in national competitions.
Gates has previously hinted his children would get less than $10million when he died.
The rest will go to the Bill and Melinda Gates Foundation, which gives grants of around £4bn a year to good causes such as tackling poverty and disease.
Bill and Melinda Gates have pledge their fortune to help the world's poorest
In another interview today, Bill said his children would not take over the foundation's work after him and he expected all the money to be spent soon after his death.
"I hope with whatever resources they accumulate, they are generous, but the Gates Foundation will spend its resources within a period of time after Melinda and I are there to run it.
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