It’s pretty common for rich people to pass down the fortune they’ve built to their children. A lot of parents, whether financially rich or not, have a dream to set their children up for life when it comes to finances. People when planning for a family look at their financial status before going ahead with anything.
However, a lot of rich celebrity parents think differently. People born with a huge net worth are mostly coddled and have no real-life experience. Furthermore, celebrity parents want their kids to have a normal childhood to shape them as a person. Despite this being reasonable a lot of people look down upon this idea.
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Celebrities Who Will Not Pass On Their Fortune To Their Kids
10. Warren Buffett
Despite being the seventh richest person and having a net worth estimated at $134 billion Warren Buffet is one of those rare wealthy people who live a humble life. Furthermore, Warren has been open about donating all of his hard-earned fortune to a charity after his demise. He has pledged to give away 99% of his fortune.
“This pledge will leave my lifestyle untouched and that of my children as well. They have already received significant sums for their personal use and will receive more in the future. They live comfortable and productive lives. And I will continue to live in a manner that gives me everything that I could possibly want in life.” He said.
9. Melinda Gates and Bill Gates
Bill Gates‘s net worth is estimated to be a huge 123 billion and he continues to be in the top 10 richest people in the world. Despite his wealth Gates and his now ex-wife Melinda’s children will have no inheritance. The two themselves are devoted to philanthropic work and run their own Bill and Melinda Gates Foundation.
Just like Warren Buffett, they wish to give away their hard-earned fortune to charity. In an interview, Bill said, “It’s not a favor to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path.” However, reports suggest, each might receive a modest amount of USD 10 million.
8. George Lucas
Lucas is crowned as the wealthiest celebrity in the world with a huge net worth of over $7 Billion. The Star Wars legend despite his wealth does not believe in letting his children live a life with a silver spoon. He has created the George Lucas Foundation to fund education for children who cannot afford it.
Lucas had 4 children, However, in 2010 he pledged to be a part of world betterment rather than leaving inheritance for his children. “My pledge is to the process; as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages. I am dedicating the majority of my wealth to improving education.”
7. Daniel Craig
Craig gained international fame from his portrayal of the fictional character James Bond. The English actor has a net worth of $190 Million. However, he doesn’t believe in leaving his fortune to the next generation despite having two children. He is a firm believer in people building their own fortune and success.
“My philosophy is to get rid of it or give it away before you go.” “I don’t want to leave great sums to the next generation,” he added, believing his kids should build their own success paths. Craig said in an interview with Candis Magazine. Despite this, his daughter Ella has achieved great success in her modeling career.
6. Elton John
John had made a huge mark in the music industry with over 30 hit albums. The Oscar-winning singer has garnered a huge net worth of $550 million. However, he alongside his husband Furnish, believes that their two children should be brought up in simplicity and a down-to-earth environment for their betterment.
“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.” He further added, “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.” John said in an interview with The Mirror in 2016.
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5. Mark Zuckerberg
Zuckerberg also comes under the top 1% with a huge net worth of $106 billion. The Silicon Valley legend is ranked number 8th in the world’s richest list. Despite not directly denying inheritance to his child, after Max was born Mark revealed that 99% of ‘Facebook shares’ would go towards the Chan Zuckerberg initiative which he started with his wife Priscilla Chan.
Mark in a letter on Meta talked about this. “Like all parents, we want you to grow up in a world better than ours today. Technological progress in every field means your life should be dramatically better than ours today. We will do our part to make this happen, not only because we love you, but also because we have a moral responsibility to all children in the next generation.”
He further added, “As you begin the next generation of the Chan Zuckerberg family, we also begin the Chan Zuckerberg Initiative to join people across the world to advance human potential and promote equality for all children in the next generation. We will give 99% of our Facebook shares, currently about $45 billion, during our lives to advance this mission.”
4. Gordon Ramsay
The world-renowned chef and reality TV star Gordon Ramsay has established himself in the world. With a net worth of over $200 million, Gordon leads a lavish lifestyle. However, despite having 5 children Ramsay revealed that his parenting style was different from other celebrity parents. It was revealed that the children do not live a lavish lifestyle or travel in first class with their parents.
In an interview with Telegram Ramsay explained his mindset behind his parenting style. “It’s definitely not going to them, and that’s not in a mean way “It’s to not spoil them. The only thing I’ve agreed with Tana is they get a 25 percent deposit on a flat, but not the whole flat. They haven’t worked anywhere near hard enough to afford that.”
3. Ashton Kutcher and Mila Kunis
Mila and Ashton’s love story started in 2012 after the two met on the set of That 70s Show. The two actors have established their names in the movie industry with Aston’s net worth Being $200 Million and Mila’s $75 million. The couple has two daughters. However, they do not believe in handing them huge amounts of money.
In The Armchair Expert podcast, Ashton opened up about his parenting style. Ashton said, “My kids are living a really privileged life, and they don’t even know it. I’m not setting up a trust for them. We’ll end up giving our money away to charity and to various things.
He continued, “If my kids want to start a business, and they have a good business plan, I’ll invest in it, but they’re not getting any trust. So, hopefully, they’ll be motivated to have what they had or some version of what they had.”
2. Jackie Chan
The king of Action films Jackie Chan has starred in several blockbuster movies. From winning an Honorary Oscar to winning several other awards Chan has achieved it all in his career. Furthermore, he was also crowned as the most recognized film star in the world. The action star’s net worth is estimated to be a huge $350 million.
However, Despite having a son he does not believe in inheriting his fortune to his son without his son having to achieve it for himself. Furthermore, in an interview in 2011, Chan revealed his thoughts on providing inheritance. “If he is capable, he can make his own money. If he is not, then he will just be wasting my money.”
1. Sting
Gordon Sumner aka Sting is famous for his rock music and had several hits under his name. Furthermore, Sting is estimated to have a huge net worth of $550 million. Despite having 6 children, Sting in an interview revealed his parenting style.
He said, “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 further added, “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. They have the work ethic that makes them want to succeed on their own merit.”
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