New Delhi, June 14 -- A generation of new millionaires and billionaires is about to be created by the largest IPO wave in Wall Street history. One of the world's most prominent philanthropists says they should decide right now what they plan to do with the money.

SpaceX has just completed the largest initial public offering in history, raising $75 billion at a valuation of $1.77 trillion. OpenAI and Anthropic are expected to follow to the public markets soon. Together, these three listings are set to produce a new cohort of extraordinarily wealthy individuals, many of them young, many of them first-time recipients of life-altering sums. Melinda French Gates, who has spent decades thinking about what the ultra-wealthy should do with their...