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Gates Says Self-Made Wealthy Are More Generous Than Heirs

Bill Gates, the college dropout who started the world’s richest charitable fund, said needy people depend on self-made millionaires and billionaires to donate money before passing their wealth on to less-generous heirs.

“Our experience worldwide is that first-generation wealth is actually more generous than dynastic wealth,” Gates, the richest American, said today at a press conference in New Delhi. “Both here in India and U.S. and other countries, the biggest givers are those who are receivers of first-generation wealth.”