They say the rich keep getting richer. This is normally because people with money usually hand their fortune down to their kids and grandchildren and so forth. An inheritance is a normality in the world of the rich and famous. However, thanks to Warren Buffet and few other pioneers like Conrad Hilton, there are more and more rich and famous people who just refuse to leave their money to their children. This new trend will probably leave a few of these socialites bitter, but hey, they can always be social media famous. Whatever they choose to do they will have to do it without their parent’s money. Many of the celebrities who refuse to give their hard-earned dollars to their children grew up knowing how tough it is to make enough money to survive. They have also acknowledged that their children already have a leg up in life by being attached to their last name. Do you think the celebrities on this list should leave their money to their children?
15. Michael Bloomberg
Michael Bloomberg has a mass fortune and not only because he is the former Mayor of New York. He is worth over $47 billion and was 10th on Forbes richest list of 2017. A few years back he signed Warren Buffet’s giving pledge. It states that the money that he isn’t giving to his children will go towards creating a better world for them and their children. No doubt his money is going towards a good cause and of course, it probably sucks for them that they are not going to see a dime of that money. But, it was never theirs to begin with.
14. Mila Kunis & Ashton Kutcher
Mila Kunis and Ashton Kutcher made headlines in late 2017 when they announced that they would not be getting there two children Christmas gifts. They said the point of this was to not raise children that are “a**holes”. She hasn’t officially announced that they will not be leaving their kids any money but one can already see it coming. During an interview on the Kyle and Jackie O Show, Kunis said “teaching them from a very early age that, you know, Mommy and Daddy may have a dollar, but you’re poor”. She states that she and Kutcher grew up pretty poor and nothing was handed to them. She just wants her children to appreciate everything that they get.
13. Sean Connery
Sean Connery is one of those celebrities that is pretty hush-hush about his personal life. There is one thing he has mentioned a time or two, it’s what he plans on doing with his wealth. In 2008, he announced that he had told his son he wouldn’t be getting an inheritance. In fact, he wouldn’t be getting any of his money once he passes. According to Connery’s ex-wife, this has caused a strain in the relationship between him and his son. His son also works in the industry but at one point was so poor he was relying on handouts from his more successful actor friends.
Sting grew up pretty impoverished and he made his own fortune in life through his amazing music. He now has 6 kids and he refuses to give them a penny of his hard earned money. They are all pretty successful in their own right some are in the film industry, some in music and some just have regular jobs. He admits that he is not leaving them money to both help and hinder them. He said, “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. Sting also joked that there may not be much money left because in addition to spending it all they have more than 100 people on the payroll.
11. Jackie Chan
Jackie Chan has no doubt that his children will be able to amass their own wealth which is why he is not leaving them any of his money. Instead, he will be leaving it to the Jackie Chan Charitable Foundation that he founded in 1988. When asked why he wasn’t leaving his money to his two children Chan replied, “he can make his own money.” If he’s capable that is. No one wants to believe that their child isn’t capable of something, so he has all the faith in the world. He has already pledged to donate half of his wealth to the charity that helps the needy in Hong Kong.
10. Elton John
Elton John is one of the biggest musicians in the world. He has made a lot of money and he will probably be a huge star until the day he dies. So why wouldn’t he share the wealth with his two gorgeous babies? John told the Mirror, “Of course I want to leave my boys in a very sound financial state, “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. But you have to have some semblance of normality, some respect for money, some respect for work”. It looks like that estimated $400 million may go to some kind of charity because it sure ain’t going to the boys.
9. Gloria Vanderbilt
Gloria Vanderbilt is an icon, an icon with A LOT of moolah that her son Anderson Cooper will not be inheriting. During an interview with Howard Stern, Cooper said, “My mom’s made clear to me that there’s no trust fund.”. He isn’t too hurt over it Cooper has a great career and his own show on CNN. He has made a lot of money and doesn’t really need to rely on mama Vanderbilt’s inheritance. Vanderbilt may have a stigma about inheritances because after her grandfather passed in 1925, her father squandered $7 million dollars on god knows what. Thank god her grandfather left her $5 million in a trust which she then turned into $200 million with hard work from her design empire.
8. Gene Simmons
It’s not like Rocker Gene Simmons’ kids Sophie and Nick need his money anyway but they wouldn’t be getting it regardless. Simmons told CNBC “In terms of an inheritance and stuff, they’re gonna be taken care of, but they will never be rich off my money. Because every year they should be forced to get up out of bed and go out and work and make their own way”. Sophie is making a name for herself in the modeling world and brother Nick is pursuing an education in California. So even though they will get a small percentage of money, they seem to be setting themselves up for later in life.
7. Mark Zuckerberg
Mark Zuckerberg Facebook creator (depending who you ask) is now a daddy two times over. But this hasn’t swayed his decision on what he plans on doing with his coins. Upon him and his wife’s passing, 99 percent of his Facebook shares (which is about a $45 billion fortune) will go to the Zuckerberg Foundation. This pledge was made in an open letter to their daughter upon her birth. It stated, “our hopes for your generation focus on two ideas: advancing human potential and promoting equality”. So essentially their money is going to be able to help people who have brilliant minds further develop our world.
6. Nigella Lawson
Nigella Lawson came from a pretty well off family and on top of that she made her own money in the food business. She is one of the more popular female chefs of our time. Even though she inherited money she has no intentions of passing that tradition down to her children with advertising mogul Charles Saatchi. The celebrity chef is worth $15 million and that’s only her portion, the kid’s father is also worth millions. The now ex-couple do not share the same sentiment. In fact, they had a few fights over it but Lawson said she wants her kids “To know that I am working and that you have to work in order to earn money”.
5. Simon Cowell
Simon Cowell has only been a father for a few short years and before he entered into fatherhood he had made the decision to give his money away when he passed on. Maybe in a few more years, this decision will change but it looks like as of now he is still planning on giving his money away as opposed to leaving it all to his son. Cowell said he just “doesn’t believe in passing on wealth.” He said, “Your legacy has to be that hopefully, you gave enough people an opportunity so that they could do well, and you gave them your time, taught them what you know”. He said he will give his son a start but he won’t leave him with anything that he hasn’t worked for.
4. George Lucas
George Lucas is $4.9 billion richer because of his decision to sell his Star Wars franchise to Disney back in 2012. However, he didn’t pocket that money. In fact, before he even received the money, he stated that it would be donated towards improving education. He is the chairman of Edutopia so he could give that money to them or start a brand new education charity. Either way, Lucas isn’t a greedy man and had no intentions of keeping that money to himself. Lucas has 4 kids but none of them will want for anything he and his wife are quite successful. So, giving away that amount of money is no sweat of either of their backs.
3. Pierre Omidyar
The name may not sound familiar to you. But, you have certainly used his service at least once or heard of it. Omidyar is the founder of eBay. He is $7.6 billion rich, and he plans on giving away a majority of his wealth in his lifetime. He and his wife have 3 children who will only benefit from that money as they grow up. But once they reach adulthood they will have to fend for themselves. Omidyar admitted that he has way more money than he and his family will ever need. There is no point in holding onto it. He wants to share his wealth and help out those who can’t help themselves. He is also attached to the giving pledge. Warren Buffet is basically trying to help rich people give away their money.
2. Bill Gates
Bill Gates is one of the richest men in the world. He has enough money to never have to work again. His kids won’t have to work, and his grandchildren won’t have to work. Well, that’s if he was leaving his hard-earned dollars to them. Gates and his wife Melinda have decided to leave their $78.6 billion fortune to his charity. He simply believes that leaving all that unearned money to his children would be a benefit to them. He admitted to taking a page out of Warren Buffet’s books. The Bill & Melinda Gates Foundation will be set for life once he and his wife pass on.
1. Gordon Ramsay
Gordon Ramsay is worth over $140 million which comes as no surprise to any of his fans. He has a number of television shows and not all of them focus on his cooking skills. Ramsay’s shows are spread across at least 4 networks. Channel 4, Fox, Cooking Network, and NBC and every last one of them has high ratings. With all that money one would assume that his 4 kids would be set for life, wrong. The chef has said that he has no intentions of leaving his vast fortune to his kids. He fears it would “ruin them”. Ramsay doesn’t want to spoil his kids at all. He even admitted to not allowing the kids to sit in first class with him and wife Tana. However, it doesn’t look like his kids will need his money well at least not Matilda. Like her father, she has her own cooking show.