Famous Parents Who Won’t Leave Inheritance to Their Kids
Despite their high net worths, several celebrities like Daniel Craig, Simon Cowell and others don’t plan to leave their children any kind of inheritance at all.
AceShowbiz -Most of our favorite Hollywood stars have more money than they know what to do with. With the fortune, they clearly can afford the privilege to raise their children in nice homes, giving them fancy vacations and so many other awesome opportunities as they grow.
However, some famous parents chose not to spoil their kids by not passing down inheritance once they die. Find out celebrities who have strict guidelines for keeping their kids humble.
1. Daniel Craig
Daniel Craig first declared he won’t be leaving his fortune to his children back in March 2020. The “No Time to Die” actor later doubled down on his claim in August 2021, calling inheritances “distasteful.”
“Isn’t there an old adage that if you die a rich person, you’ve failed?” the James Bond depicter said to Candis magazine. “I think Andrew Carnegie [an American industrialist] gave away what in today’s money would be about 11 billion dollars, which shows how rich he was because I’ll bet he kept some of it, too!”
“But I don’t want to leave great sums to the next generation. I think inheritance is quite distasteful,” he further explained, “My philosophy is get rid of it or give it away before you go.”
2. Marie Osmond
Marie Osmond also doesn’t change her mind about not leaving her Hollywood riches to her kids. Though she still gives financial support to her kids, the singer/actress believes that giving them an inheritance will only breed “laziness and entitlement.”
“Honestly, why would you enable your child to not try to be something?” the 63-year-old star, who grew up in the show business family the Osmonds, told Us Weekly in January. “I don’t know anybody who becomes anything if they’re just handed money.”
“To me, the greatest gift you can give your child is a passion to search out who they are inside and to work,” she added. “I mean, I’ve done so many things from designing dolls [and much more]. I love trying [and] I wanna try everything. I’m a finisher.”
3. Anderson Cooper
Despite having an estimated $200 million wealth, Anderson Cooper won’t let his child feel entitled to the silver spoon. In September 2021, the “Anderson Cooper 360°” host revealed that he doesn’t plan to leave his son Wyatt Morgan Cooper an inheritance.
“I don’t believe in passing on huge amounts of money,” the 55-year-old broadcaster first divulged on the “Morning Meeting” podcast. “I don’t know what I’ll have.”
“I’m not that interested in money, but I don’t intend to have some sort of pot of gold for my son,” Anderson, who is co-parenting his son with ex Benjamin Maisani,” continued. “I’ll go with what my parents said… ‘College will be paid for, and then you gotta get on it.’ “
Sting is another wealthy parent who wants his children to stand on their own feet without depending on trust funds. Back in 2014, the ex-frontman of The Police declared that he wants his children to earn their own money.
“I told them there won’t be much money left because we are spending it! We have a lot of commitments. What comes in, we spend, and there isn’t much left,” he told Mail at that time. “I certainly don’t want to leave them trust funds that are albatrosses round their necks.”
“They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate. Obviously, if they were in trouble I would help them, but I’ve never really had to do that,” the musician added. “They have the work ethic that makes them want to succeed on their own merit.”
5. Mila Kunis and Ashton Kutcher
Mila Kunis and Ashton Kutcher may be rich, but their kids won’t be given any of their money after they die. When appearing in a 2018 episode of Dax Shepard‘s “Armchair Expert” podcast, the “No Strings Attached” actor revealed that he is not “setting up a trust for them.”
“We’ll end up giving our money away to charity and to various things,” the 45-year-old, who shares two kids with Mila, said back then. “I want them to be really resourceful… Hopefully they’ll be motivated to have what they had, or some version of what they had.”
Though so, it doesn’t mean Ashton won’t help his children when they need it. “If my kids want to start a business, and they have a good business plan, I’ll invest in it,” he noted.
6. Shaquille O’Neal
Shaquille O’Neal has some strict rules on how his kids can get a slice of his wealth. The former professional basketball player previously made it clear that his children need two degrees to access his $400 million fortune.
“My kids are older now. They’re kinda upset with me. Not really upset, but they don’t understand,” the 51-year-old said on the “Earn Your Leisure” podcast. He added, “I tell them all the time. We ain’t rich. I’m rich.”
“You gotta have bachelor’s or master’s [degrees], and then if you want me to invest in one of your companies, you’re going to have to present it, boom boom boom, bring it to me,” he recalled telling his children. “I’ll let you know, I’m not giving you nothing.”
7. Simon Cowell
Simon Cowell plans to give away his money to charity in the future instead to his kid. The “America’s Got Talent: All-Stars” judge, who is reportedly worth a staggering $600 million, once stated that he doesn’t “believe in passing on from one generation to another.”
“I’m going to leave my money to somebody. A charity, probably – kids and dogs,” the 63-year-old music mogul declared back in 2013. “I don’t believe in passing on from one generation to another.”
“Your legacy has to be that hopefully you gave enough people an opportunity, so that they could do well,” Simon explained further. “And you gave them your time, taught them what you know.”
8. Gordon Ramsay
Gordon Ramsay thinks his kids be better off making their own way in the world. When speaking to The Telegraph, he said that his wealth is “definitely not going to” his five children.
Noting that his decision is “not in a mean way,” Gordon added that he just doesn’t want to “spoil them.” The celebrity chef additionally revealed that his kids don’t sit in first class during flights.
“They don’t sit with us in first class,” he shared. “They haven’t worked anywhere near hard enough to afford that. At that age, at that size, you’re telling me they need to sit in first class? No, they do not. We’re really strict on that.”
9. Bill Gates
Bill Gates has been known as one of the richest men in the world. However, his three kids, whom he shares with ex-wife Melinda Gates, won’t inherit billions despite his huge fortune.
“I definitely think leaving kids massive amounts of money is not a favor to them,” he pointed out. “Warren Buffett was part of an article in Fortune talking about this in 1986 before I met him and it made me think about it and decide he was right.
10. Elton John
Elton John also wants his children to earn their own extravagant inspirations one day. “Of course I want to leave my boys in a very sound financial state,” he told Mirror. “But it’s terrible to give kids a silver spoon. It ruins their life.”
“Listen, the boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are,” Elton added. “But you have to have some semblance of normality, some respect for money, some respect for work.”
You can share this post!
Source: Read Full Article