New York · Fortune Technology
Like Bill Gates, this founder is cutting his kids inheritance to 8 figures because he’d rather give more to philanthropy than
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Dylan Taylor made his first million at 27.
Key facts
- Jobs, estimated to have been worth approximately $7 billion when he died in 2011, “wasn’t interested” in building legacy wealth, his wife told the New York Times in 2020
- One in five baby boomers expect to leave an inheritance at all, according to a Northwestern Mutual survey —even though more than half of Gen Zers and nearly 60% of millennials say they’re depending
- Last year, he took his space-holding company, Voyager Technologies, public on the New York Stock Exchange, making many more millions
- Microsoft cofounder Bill Gates has revealed he plans to leave his children less than 1% of his wealth, believing it’s better for them to find their own success than inherit it
Summary
Last year, he took his space-holding company, Voyager Technologies, public on the New York Stock Exchange, making many more millions. When you’re worth as much as Taylor, there’s only so much you can spend in one lifetime. “At some point, once you have a couple hundred million dollars, you can’t spend what you have,” Taylor explains. His answer: enough for a safety net, but not enough to remove the need to build something of their own. So far, it seems to be working. His children are now old enough to access those resources, but he says they haven’t touched them.