Zerodha’s Nikhil Kamath and Bill Gates Reflect on Capitalism and Purpose Beyond Profit

New Delhi, Apr 21, 2025 — In a recent podcast, Zerodha co-founder Nikhil Kamath and Microsoft co-founder Bill Gates discussed what motivates them. They talked about building wealth, seeking recognition, and the impact of giving. The conversation showed how their priorities have changed over time and offered insight into their personal and professional values.

The conversation offered insight into how two billionaires view wealth and giving, not just as outcomes but as evolving priorities. For Nikhil Kamath, the shift from chasing financial success to finding purpose in philanthropy is still ongoing.

“It Used to Be Just About Money” — Nikhil” Kamath

Nikhil Kamath shared how his personal motivations have evolved over time. He said that in the early years, his focus was purely on money. “I didn’t have it, and growing up around people who did — they seemed happy,” he noted.

As his career progressed, that focus shifted. “Money turned into a need for power, dealing with jealousy, insecurity, and the search for validation,” Kamath said. His reflection offers a glimpse into the changing mindset many entrepreneurs experience as they grow.

Giving as a New High

Now a part of the Giving Pledge, Nikhil Kamath finds that giving evokes a completely different kind of excitement. “Even when you quietly do something good… it is almost more intoxicating than a capitalistic pursuit,” he said.

However, he also confessed to an inner tug-of-war between altruism and ambition. “Some days, I feel like there is no point to more, and I want to give. But then competition kicks in and I want more again,” he shared. He asked Gates directly, “Can I be motivated by both: earning and giving?”

Gates: “Even Giving Can Be Ego-Driven”

Bill Gates spoke openly about how giving money isn’t always as selfless as it seems. “Even giving away money can be very egotistical,” he said. “There’s a high that comes with it — nothing is ever fully pure.”

He mentioned Ted Turner’s comment about the Forbes list, pointing out that people often want credit for being generous. “Even if your actions are moral, part of you still hopes others notice,” Gates explained.

At the same time, he made it clear that results matter more than intention. “Whether it came from ego or not, the work we’ve done with vaccines actually made a difference.”

Nikhil Kamath admitted that switching between the excitement of earning and the fulfillment of giving can be confusing. “Now I don’t know which high is more appealing at which point,” he said.

Gates offered a contrasting experience, highlighting how his own mindset shifted after leaving Microsoft. “Creating a company was highly competitive. With Microsoft Office, competitors disappeared. That survival pressure — it was constant,” he recalled. Philanthropy, on the other hand, brought a different kind of peace. “It isn’t quite as competitive,” Gates said. “Moving to the foundation made my life more sane. I wasn’t always conjuring up worst-case scenarios.”

Broader Lessons for Entrepreneurs

The conversation carries an important message for the business world: success isn’t just about financial wins. It’s also about how that wealth is used — and what it does to the people who earn it.

Nikhil Kamath’s honest take on shifting priorities and Gates’ views on the overlap between ego and giving offer valuable insight into today’s approach to entrepreneurship. Their conversation highlights the importance of not just building wealth, but using it with purpose.

As the line between capitalism and philanthropy grows thinner in today’s startup-driven world, this conversation stands out as a timely reminder that fulfillment can come from both as long as it’s approached with self-awareness.