Bill Gates has revealed his three children will receive less than 1% of his staggering $101.2 (£78.68) billion fortune. Although this may not seem like a lot due to Bill’s eyewatering net worth this relatively small portion still equates to a staggering amount.

The Microsoft co-founder, 69, is the fourth richest person in the world and despite previously claiming he will donate "virtually all of my wealth" to the Gates Foundation, his children certainty won’t go without. The tech tycoon revealed on the Raj Shamani podcast that his children Jennifer, 28, and Phoebe, 22, and son Rory, 25, will inherit "less than 1 percent" of his wealth when he dies.

He also emphasised his belief that his wealth is not a family “dynasty” and wishes for his children to make their own money by following their own path.

Bill said: “In my case, my kids got a great upbringing and education but [will get] less than 1% of the total wealth because I decided it wouldn't be a favour to them. It's not a dynasty. I'm not asking them to run Microsoft.

"I wanna give them a chance to have their own earnings and success, be significant and not overshadowed by the incredible luck and good fortune I had."

Bill added that he has long been upfront with his children with his children about their inheritance and has reiterated that the "neediest" in the Gates Foundation requires the money the most.

"You don't want your kids to ever be confused about your support for them and your love for them," Bill told the podcast.

"So I do think explaining early on your philosophy, that you're going to treat them all equally and give them incredible opportunities, but that the highest calling for these resources is to go back to the neediest through the foundation", Bill said.

His ex-wife of 27 years Melinda Gates,60, told Elle last month the couple is trying to keep their three children "in the real world."

She said: “We had real discussions about how our family was different, but you shouldn’t think any more of yourself because of that.”

Bill Gates and Melinda French Gates have donated a total of $59.5 billion to the Gates Foundation since it kickstarted in 2000.