Fact checked by Stella Osoba Bill Gates, worth over $100 billion, plans to leave his three children less than 1% of his vast fortune. While that still amounts to millions per child, it's a surprisingly small fraction of what the Microsoft Corporation (MSFT) cofounder could give.

Tech billionaire and Microsoft co-founder Bill Gates is known for his philanthropic works across the world. And on May 8, Gates announced that he will donate his remaining 99% wealth to the Bill and Melinda Gates Foundation in the next 20 years.

Microsoft co-founder Bill Gates will dramatically speed up his plans to give away most of his wealth, saying he will reduce his estimated $108 billion net worth by 99 percent over 20 years and prepare his eponymous foundation to stop operating by the end of 2045.