This billionaire is capping his kids’ inheritance at 8 figures—like Bill Gates, he thinks generational wealth is bad for society

Dylan Taylor made his first million at 27. Last year, he became a billionaire at 53, after taking his space-holding company, Voyager Technologies, public on the New York Stock Exchange. But don’t expect his two children to inherit all of it.“I’m not a huge believer in generational wealth transfer,” the founder and philanthropist tells Fortune. “I don’t think that’s good for the kids. And I don’t think it’s good for society, frankly.”It’s why, like Microsoft cofounder Bill Gates, Taylor has put a hard cap on what his kids will one day receive; “It’s a lot, but it’s eight figures, not nine,” Taylor responds, when asked exactly how much his children can expect to inherit. When you’re worth as much as Taylor, there’s only so much you can spend in one lifetime. Eventually, the conversation turns to what happens to the rest. “At some point, once you have a couple hundred million dollars, you can’t really spend what you have,” Taylor explains. “So it then becomes, how much do you want to give to your kids?” 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. “They want to do things on their own,” Taylor adds. “Which is exactly what you want. That’s what you hope for.” And everything above that eight-figure cap—potentially hundreds of millions, if not more—is going to philanthropic causes he cares about, including Space for Humanity, his nonprofit that sends people to space. This billionaire would rather fund philanthropy The number of billionaires on the planet keeps growing. And Taylor has watched up close (and unimpressed) how his peers approach the question of what to do with money they’ll never spend. “I’ve been in rooms where people are obsessing about deductions and trusts, an