Some kids get a watch. Others get a gift card. But your graduation present might look a little roomier if your last name is Gates. Like, 124-acres roomy. In 2018, when Jennifer Gates graduated from Stanford, she didn’t just toss her cap in the air; she galloped straight into a $15.82 million horse farm in North Salem, New York.
The lavish estate, a gift from her parents, Bill Gates and Melinda Gates, came fully loaded: rolling pastures, multiple land parcels, and close enough to NYC for her future medical studies. And yet, according to Melinda Gates herself, their kids were raised “middle class.”
Middle Class Where, Exactly?
In a 2024 interview with The New York Times, Melinda said, with a straight face, “It was much more of an upbringing like I grew up in. A very middle-class household where money did dictate whether I got an extra pair of shoes that year or not.”
Yes, the same woman who helped write billion-dollar checks for global health initiatives is also out here giving her kids allowance-based reality checks. According to Melinda, the Gates children had to make wish lists, wait for birthdays, and buy things with their money.
“We absolutely did not just buy them things,” she said. “They either had to buy with their allowance or put it on their wish list, that maybe they’d get from their grandparents or us.”
© GettySo no, Jennifer wasn’t out here casually swiping her black Amex for every shiny saddle in sight. But was she still riding on one of the most elite equestrian circuits in the world in her teens? Yes.
Billionaire on Paper, Budget-Friendly in Spirit?
The Gates approach to parenting was less “rich kid free-for-all” and more “billionaire boot camp.” Even travel comes with rules. Melinda said she’d warn her children not to flaunt the private flights: “You really are not allowed to tell other people how we flew on this trip… otherwise it will separate you from other children.”
And while that might sound like the plot of “Crazy Rich Parents Who Mean Well,” there was a clear strategy behind it. Melinda recalled her time at Duke University, where she met kids who were rich in bank accounts but bankrupt in humility. She swore her children wouldn’t grow up that way.
© Pascal Le Segretain“I vowed to myself that if I ever had resources at my disposal, those were not the kind of children I wanted to raise,” she said.
A Horse Farm and a Humblebrag
By 2016, the family had already invested in Jennifer’s elite horse training. Bill Gates reportedly bought $38 million worth of property in Wellington, Florida, aka the Winter Equestrian Capital of the World. The area is also home to Michael Bloomberg and Bruce Springsteen’s family. The Wellington estate came with a mansion, a 20-stall barn, schooling rings, paddocks, and a whole vibe.
Today, Jennifer is 28, married to Olympic show jumper Nayel Nassar, still active in equestrian sports, and well into med school. She’s living proof that you can grow up with billionaires for parents, receive a multimillion-dollar estate as a gift, and still be told no when you ask for a second pair of Nikes.
© Jennifer GatesSo, What’s the Real Lesson Here?
You can gift your kid a horse farm and still call it middle-class parenting if they had to earn their iPod back in 2009. While that might sound like a paradox, it’s also a reminder that being rich doesn’t have to mean raising spoiled kids.
Sure, Jennifer Gates might not have experienced the thrill of a Target dorm haul or the subtle sting of a $25 Starbucks card from your aunt who barely remembered you graduated. But she did grow up in a home where values, not just value, mattered.
© Jennifer KatherineSo the next time you’re scrolling through Zillow with champagne dreams and a boxed wine budget, remember it’s all about balance.
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