From the late Beatles star John Lennon, to Gordon Ramsay and Sting, these are just some of the celebrities, who refused to leave all of their cash to their children.
Some stars also believe that cutting their offspring off is a blessing while others, who value hard work, see money can often end up spoiling children.
Marie Osmond
US country singer Marie Osmond recently vowed that none of her eight children will be receiving an inheritance.
With an estimated net worth of $20m (£16.28m), she said her refusal to share her wealth was not malicious and that she wanted her children to find their own success.
“Honestly, why would you enable your child to not try to be something? I don’t know anybody who becomes anything if they’re just handed money,” the 63-year-old singer told US Weekly, earlier this year.
The Paper Roses hitmaker candidly added that she believes that inheriting wealth can influence younger people to not work as hard.
Gordon Ramsay
Gordon Ramsay is one of the most successful celebrity chefs in the world and as of July 2023, owns 58 restaurants around the world with a variety of names, and he is also known for his popular TV shows, including Hell’s Kitchen, The F Word and Kitchen Nightmares.
The restaurateur and TV personality enjoys a life of luxury with his wife Tana Ramsay and their five children but he previously stated he won’t spoil his children too much.
His children rarely eat at his Michelin-starred restaurants, he said. They also do not sit with their parents in first class when they are flying on holiday.
Gordon admitted he had no plans to leave everything to his children in his will, saying: “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 [per cent] deposit on a flat, but not the whole flat,” he told The Telegraph in 2017.
Sting
Sting, who is one of the most successful musicians as a solo artist and as a member of the Police, started from humble beginnings and the British rocker has an estimated fortune of £301 million, according to Celebrity net worth.
But the Roxanne hitmaker said there may not be much funds available to leave to his children because he is spending the cash, however, he is happy to assist them if they ever needed help.
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.”
Sting added to the Mail on Sunday’s Event magazine in 2014: “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.”
John Lennon
The legendary Beatles star left the world in mourning when he was tragically killed in December 1980.
John Lennon is survived by his two sons, Sean, who he shared with his wife Yoko Ono, and Julian, who he shared with his first wife Cynthia.
The Let It Be singer’s fortune was bequeathed to his youngest son Sean and wife Yoko when he tragically died.
The mother and son were left with the $264M million fortune – but his eldest son Julian was excluded from the will and he sued Lennon’s estate in 1996.
Speaking about the will to the Telegraph in 1998, Julian said: “I don’t think it was necessarily fair, but I’m OK. The last thing I wanted was a court battle because there’s much more money on the estate side than my side.”
Julian won his case and it was reported that he gained around £20 million from the estate at the time.
Daniel Craig
Daniel Craig does not plan to leave his multi-million-pound fortune to his children.
The James Bond actor said he would be happier donating his money to a charity or spending it on good causes than leaving it as an inheritance for his children.
Daniel has previously said he finds the idea of inheritance “distasteful”, and that his two children will not be getting his $125m fortune.
“My philosophy is get rid of it or of it, or give it away before you go,” Craig said.
For all the latest Entertainment News Click Here
For the latest news and updates, follow us on Google News.
