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They had very different circ*mstances:Bill Gates was the son of wealthy parents, his father was a partner in the law firm Preston Gates & Ellis, his mother was on board of directors for First Interstate BancSystem and the United Way. Bill got a sweetheart deal from IBM, in part due to his mother serving on the United Way board with Jon Opel, chair of IBM. Steve Jobs was adopted by Paul Jobs, a mechanic and a carpenter, and Clara Jobs, who was a payroll clerk for Varian Associates. Neither of his adoptive parents had the opportunity to attend college. Jobs sold his minivan and Wozniak sold his HP scientific calculator to initially fund development of the Apple I. If you have the option of being born to parents with extreme wealth and connections, I highly recommend it over fundraising. |  | |
One may dismiss Gate's success as due to the resources of his parents. However, Microsoft was not his first foray into entrepreneurship. I suspect that bootstrapping was always the plan. Just as Apple always anticipated taking venture capital.Jobs had the good fortune to be raised in Silicon Valley. Had he been in Topeka, there would not have been a viable market of hobbyists for Apple I kits. Then again, he wouldn't have known Wozniak who actually built the damn thing, either. Luck played a factor in the fortunes of both men. The funding of Gates and Jobs is a parable. The extended version includes the prodigal son's return. | | | |
I don't completely disagree with you, a good start in life and tons of money doesn't guarantee you future success, but luck alone doesn't pay the bills either, that takes money.You can have a great viable market and if you don't have the money to build the widgets, you are stuck pounding sand. BTW if Wozniak hadn't met Steve Jobs, he might have spent the rest of his days working at HP, being one of hundreds of brilliant engineers nobody has ever heard about. Woz is many things, but he is not --and was never-- an ambitious corporate leader. Wozniak built the Apple I and Apple II but it was Steve Jobs that built Apple Inc. | | | |
As for Gates, I would never dismiss him.He took advantage of his connections and built one of the biggest, most influential software companies ever. He then stepped back at the height of his career, listened to his wife, and the two of them built a very innovative philanthropic organization. There are plenty of rich kids that don't accomplish anything, Gates wasn't one of them. | | | |
"There are plenty of rich kids that don't accomplish anything, Gates wasn't one of them."Very true! | | | |
Nobody is "dismissing Gates' success as due to the resources of his parents." People are pointing out that taking VC funding was unnecessary for Gates due to his family's wealth. Surely you can see this.Also, Gates was building a software company and Jobs was building a hardware company. Jobs had a lot more need for funding in the first place since his capital expenditures were higher. Finally, Mr. Jobs made almost half a billion off of Apple in the 1980s (yes... 1980s dollars.) I hardly think that Apple is some kind of parable about how VC funding is a bad idea. Quite the contrary. | | | FAQs
Bill Gates was born into a wealthy family who paid for a very expensive private education for him. When he founded Microsoft, his parents gave him the seed money to get the business going. His mother, who was socially connected, introduced him to the people that allowed him to sign his contract with IBM for MS-DOS.
How did Bill Gates parents help him? ›
"Gates was skilled at many things, but his parents also pushed him to do things he wasn't good at, like swimming, soccer and football. They also encouraged him to take music lessons (Gates tried the trombone, but had very little success, according to his father)," a CNBC report says.
Where did Bill Gates get the money to start Microsoft? ›
Gates did not start Microsoft with a loan from his parents, it was entirely bootstrapped financially. Paul Allen and Gates had saved up a small amount of money from contract work. Together they provided all of Microsoft's seed capital.
What did Bill Gates dad do? ›
Bill Sr. earned his bachelor's and law degrees from the University of Washington, following three years of U.S. Army service in World War II. A founding partner at Preston Gates & Ellis, Bill Sr. served as president of both the Seattle/King County Bar Association and the Washington State Bar Association.
Where did Bill Gates family come from? ›
William Henry Gates III was born on October 28, 1955, in Seattle, Washington as the only son of William H. Gates Sr. (1925–2020) and his first wife, Mary Maxwell Gates (1929–1994). His ancestry includes English, German, and Irish/Scots-Irish.
Did Bill Gates leave money to his family? ›
After passing on a small amount of money to their offspring, Gates and his ex-wife Melinda will give the rest of their fortune to their charity, the Bill and Melinda Gates Foundation, which funds health and education projects around the world.
Do startup founders come from wealthy families? ›
I meet a lot of founders, and it's no surprise many come from wealthy families. But most people today don't have such resources. Kids, work, school debt, bills—they all pile up, and an entrepreneur who is facing that is starting in the hole.
Did Bill Gates have good parents? ›
Gates' parents were incredibly involved in philanthropy and community work, and they made it a point to ensure that their kids did, too. "Mary was a firm believer in an idea from the 'Book of Luke': 'To whom much is given, much is expected,'" Gates Sr. said.
How did Bill Gates get his wealth? ›
Bill Gates is a millionaire thousands of times over: As of February 2024, Forbes reported his net worth at over $123 billion, most of which came from his position as the largest individual shareholder of Microsoft, which he started with Paul Allen in 1975.
What did Bill Gates mom do? ›
Mary Ann Gates was an American banker, civic activist, non-profit executive, and schoolteacher. She was the first female president of King County's United Way, the first woman to chair the national ...
WikipediaGates owns 1.38% of the total outstanding shares of Microsoft. The Magnificent Seven stock dominated the tech space last year, with its strategic investments in OpenAI and the acquisition of Activision Blizzard attracting investors.
What are 5 interesting facts about Bill Gates? ›
10 interesting facts you didn't know about Bill Gates
- • Bill Gates comes from a wealthy family. ...
- • At the age of 13 he wrote his first program. ...
- • Created a program to get into classes with beautiful girls. ...
- • Before Microsoft was founded, Gates had another company. ...
- • The founder of Microsoft was not immediately educated.
Bill Gates: Gates co-founded Microsoft with Paul Allen in 1975 when he was just 19 years old. The company went public in 1986, making Gates an instant millionaire at the age of 31. By 1987, he was worth $1.25 billion, and his net worth has since grown to over $100 billion.
What was Bill Gates childhood like? ›
Early Life
Known as Trey to his family, Bill was a bright and competitive child who loved math and reading. At age 8, he began reading encyclopedias for fun. But in grade school, he was bored. His parents decided to send him to Lakeside, a private middle and high school.
Did Bill Gates go to college? ›
Bill Gates never finished his undergraduate degree — the billionaire dropped out of Harvard University after three semesters to start Microsoft.
How much money does Bill Gates inherit from his children? ›
He confirmed that his three children would each inherit $10 million (£7.2 million), which is less than one per cent of his wealth.
