What would you do if you were mega rich, had acquired fame and fortune, and had the means to be able to live your life comfortably for the rest of your days? Would you then pass everything onto your kids, or force them to make it on their own, not rely on mommy or daddy’s wealth? It’s a conundrum, there are plus points to both. On the one hand, you want your kids not to have to struggle as you did and have an easier time in life, not ever worry about where the next meal’s going to come from, or where the funds to pay the bills are going to come from. But on the other hand, give your kids everything on a silver platter, and it might completely ruin them, and make them, well, spoiled brats who lack basic skills in life. Plenty have done just that, and look how their kids have turned out. Look at the Kardashians, for example, or Paris Hilton – sure her rich parents aren’t gone yet – but you get the gist; these women are famous for being famous, famous for their wealth, famous for flaunting the cash, a lot of which they acquired from their rich parents.
But there are a number of celebs who’ve gone the other way, who’ve chosen not to pass their wealth onto their kids. Their kids may secretly resent them for it, but hey, that’s the way it’s going to be. They’re going to have to get things in order, because when their parents are gone, they’re no longer going to be able to rely on their wealth. Here are 15 wealthy celebs whose kids won’t get a dime when they’re gone, because they’ve cut their kids out of their wills.
15. George Lucas – Fortune Going Towards Education For Children In Need Instead
American filmmaker and entrepreneur George Lucas is best known for creating the hugely successful Star Wars and Indiana Jones franchises, in addition to many other iconic movies. He’s also the founder of Lucasfilm and Industrial Light and Magic, so understandably he’s been raking in the cash for decades. He sits at the top of the movie industry, and that means his earnings aren’t in the millions, but in the billions. You’d therefore think that he’d give his kids a little something when he’s no longer around. He has four kids, three of which are his adopted kids, and one was born via gestational carrier. But they’re not going to be able to rely on daddy’s money to make things happen for themselves. George is an avid philanthropist, and that’s where all of his money’s going to go when he’s gone, to charity. He already donates heavily to charity, but when he’s gone he’s going to use it to provide education for those in need, for those who have no access to it.
14. Mark Zuckerberg – Another Billionaire Planning On Giving It All Away
Look at his $1 salary, his fashion sense, his humble existence, and if you didn’t know who he was already, you’d have no clue the guy was a billionaire. Mark Zuckerberg, the founder of the social media site Facebook, is worth around $63.3bn, but you wouldn’t know it. Again, here’s another billionaire for whom money’s not really a motivation, for whom giving generously to charity is more important than seeing his bank account swell. He’s said that during the course of his life he plans on giving pretty much all of his cash away to charitable causes, but when his young kid – soon to be kids – grow up and hear about that, they might not be too thrilled. But who knows what the future has in store for the Zuckerberg kids. Mark may have another bright idea, his kids may get involved and end up making fortunes for themselves. One’s still a baby, the other’s on the way, so they have their whole lives ahead of them and may not even need a handout from daddy down the line.
13. Sting – His Kids “Won’t Really Need Anything”
Musician, singer, songwriter and actor Sting is best known for being a member of the band The Police, and then when the group disbanded, for launching his solo career. Over the decades he’s acquired a substantial amount of cash, around $300m, which is great for him, and his family, but when he croaks, they’re going to have to go it alone. He’s got six kids, but he’s cut them out of his will, and has said that when he’s gone, they’re not going have a trust fund to rely on. He doesn’t want all that cash to be an “albatrosses round their necks,” and he already knows what he’s going to do with his money. He’s also said that his kids won’t really need anything. They’re doing more than ok for themselves at the moment without dipping into his bank account, so when he’s gone he doesn’t expect things to be much different.
12. Gene Simmons – Wants Kids To Build Their Own Wealth
Let’s be honest, rock stars don’t really have great reputations for picking up too many father of the year awards. The stereotypical rockstar also lives the rock ‘n’roll lifestyle and Gene Simmons is no different. He co-founded the rock band Kiss in the 1970s, and because of that he went on to achieve superstardom on the music scene. He’s also had a successful film and TV career, in addition to numerous other ventures, so he’s never really been, and never will be, hard up for a bit of cash.
His two kids might be though. They’re now in their mid-20s, but have had to go out on their own and never will be able to rely on their dad or any sort of inheritance for a bit of cash. Gene’s been open about saying neither of his kids will get any of his cash when he’s gone. He wants them to build their own wealth, so Gene’s money’s going to be going elsewhere.
11. Pierre Omdiyar – eBay Founder Giving His Fortune Away
This guy might not be a celebrity in terms of what we today deem the word to be, but he’s an extremely powerful figure and is one of the wealthiest guys around.
You’ve probably all used eBay at some point, right? Well, Pierre Omdiyar is the founder of the multinational e-commerce corporation. He founded the company in 1995, and today it’s grown into a global brand where pretty much everyone uses it, or has used it to buy or sell. It’s therefore no surprise that it’s a multibillion-dollar business, one that’s made its founder a multibillionaire. He’s worth around $7.6bn, so you’d assume his family would never have to worry about money ever again. You’d think that he’d slip his family and friends a couple of million each, ensure they’re set for life, but no. Pierre plans on using his cash for noble causes and along with his wife, plans on giving all of his cash away during the course of his lifetime in order to try and solve some of the world’s problems.
10. Warren Buffett – Donating 99% Of His Wealth
If you thought Pierre, owner of eBay, was mega rich, his earnings pale in comparison to that of Warren Buffett’s. Pierre might be a big fish in terms of his finances, but Buffett is a whale, with a net worth of $73.3bn. The business magnate and investor has been raking in the cash for decades as the Berkshire Hathaway boss, but his three kids aren’t going to see a dime.
Like a lot of super-rich folk, money was never really a motivation for Buffett. It came, but he’s never really been enthusiastic about being a billionaire. He’s more into the business side of things, and the money’s just a by-product of his wheeling and dealing over the years.
In 2006, he announced he was going to donate 99% of his wealth to charity. He went on to say; “I’m not an enthusiast for dynastic wealth, particularly when 6 billion others have much poorer hands than we do in life.”
9. Ted Turner – Kids Have To Work For His Charitable Foundation
American media mogul and philanthropist Ted Turner is famous for being the founder of the cable TV network CNN. He’s also done a ton of other stuff over the years which have contributed to him acquiring earnings in excess of $2bn.
Turner’s also known for his controversial statements and being rather brash, and antics that have led to him acquiring the nicknames “The Mouth of the South” and “Captain Outrageous.” What comes out of his mouth at times might be controversial, but on the inside Turner’s got a heart of gold and is all about giving. He’s given generously to charity over the years, and has even launched his own foundation, aptly named “Turner Foundation” so his five kids could get directly involved with the family’s charitable endeavors. That’s where he’s said his money’s going to be going, not to his kids. “At the time of my death, virtually all my wealth will have gone to charity.” Another billionaire with a cause.
8. Elton John – Doesn’t Want To Throw Cash At His Kids
English singer and musician Elton John is arguably one of the greatest singer-pianists in the industry. His career’s spanned a remarkable five decades, his albums have broken numerous records, and he’s still right up there as being the guy whose career every new up and coming singer wants to replicate.
At the age of 70, Elton’s still going strong, but is now a proud dad to his two kids, Zachary and Elijah, and a husband to his other half, David Furnish. Family life’s important to Elton, and he definitely wants to ensure his kids are well looked after and are sound financially when he’s no longer around. But at the same time, he doesn’t want them to grow up with a silver spoon in their mouths and rely on him and his cash for life. They won’t be inheriting his fortune because he doesn’t want to ruin their lives by throwing cash their way, he wants them to make it in whatever career they choose on their own.
7. Kevin O’Leary – Fears Money Will “Ruin” His Kids
This Canadian businessman and author is known for founding the technology company SoftKey Software Products, but has today morphed himself into a television personality and is perhaps best known for being a judge on the ABC series Shark Tank.
Kevin O’Leary is worth a cool $300m, but isn’t going to pass on anything to his kids. He feels that money will ruin them, make them lack motivation, and essentially just do nothing and waste it, waste their lives. He knows what it’s like to struggle and reach the top, and that’s what he wants his kids to do. He’s been pretty blunt about what he’s going to do, how he wants his kids to stand up on their own two feet, how he’s going to kick them out of the house once they’re educated. “If you don’t start out your life with the fear of not being able to feed yourself and your family, then what motivates you to go get a job? Fear motivated me, and it will motivate them.”
6. Bill Gates – Giving His Kids “Peanuts”
Unless you’ve been living in a fishbowl for the last few decades, Bill Gates doesn’t really need an introduction, but nevertheless here it goes. He’s the co-founder of Microsoft, one of the world’s largest multinational technology companies, and he added to his wealth over the years as a business magnate and investor. The guy’s worth around $88bn, a figure that makes him the richest person on the planet, but isn’t someone who’s known for his lavish spending. He prefers to donate heavily to charity, giving to those in need, and because of the upbringing his three kids have had, they’ll never really – or he hopes they never will be – in need. He hasn’t actually cut them out of his will entirely. He’s going to be giving them each $10m, which may seem like a hell of a lot to you and I, but when he’s the richest guy on the planet and is worth in excess of $88bn, that figure’s peanuts. He, like a lot of other billionaires, is going to give away his cash to charity when he’s gone, so his kids will have to make do with $10m.
5. Michael Bloomberg – Wants To “Create A Better World” For His Children Instead
American businessman, author, and politician, Michael Bloomberg is ranked as being the 10th richest person in the world with a fortune of over $50bn. Over the decades he’s had his hands in many different pies, but is perhaps most famous for his political endeavors, for being the Mayor of New York and for holding office for three consecutive terms. He loves the business side of things, loves making money, but wants to do good with his money, and that’s meant that over the years Michael’s become heavily involved in philanthropic causes. He’s joined The Giving Pledge, a group of billionaires who pledge to give away at least half their cash to charity, and has donated to various other charities over the years. That’s where his cash is going to be going when he’s gone. As for leaving anything for his kids, he’s said: “If you want to do something for your children and show how much you love them, the single best thing—by far—is to support organizations that will create a better world for them and their children.”
4. Gordon Ramsay – He’ll Help, But He’s Not Giving Them Everything
Celebrity chef Gordon Ramsay can afford to just sit on his arse all day if he wanted, and the money would just continue to fall into his lap. The guy spots an opportunity and goes for it, and more often than not he makes a success out of these ventures. Today he’s got tons of restaurants, food establishments, bars, eateries – anything food-related, he’s got it or is at least involved in it – all over the world, and has some of the top chefs around on his payroll. He’s absolutely loaded, but has said he doesn’t do what he does for the money, he just does it for the buzz, for the love of the industry.
We’ve seen a lot of Gordon’s sweet kids over the years, because he’s gotten them involved in some of his cooking programs. But I wonder if those cute smiles will still be plastered across their faces when they grow up and learn they won’t be inheriting any little bit of their dad’s vast fortune. Gordon’s said: “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 [wife] Tana is that they get a 25 per cent deposit on a flat, but not the whole flat.” So, the Ramsay kids will have to make do.
3. Nigella Lawson – No Handouts From Mom
Here’s another celebrity chef, but unlike Gordon Ramsay, she’s not one for all that swearing and screaming, she’s known for making cooking sexy. Whenever she’s on TV, people tune in to watch Nigella Lawson as much as they tune in to feast their eyes on the sumptuous dishes she makes – she truly has made that role as the sexy, sultry cook her own. But she’s not just about cooking. She’s got a versatile skill set which includes journalism, broadcasting, and writing, and over the years she’s amassed a fortune from these various ventures. But, unfortunately for her two kids, they won’t be seeing any of it. She’s said that she wants her kids to earn their money, make their fortunes themselves, not have it handed to them on a plate because that’s the sort of thing that could ruin them. If they’re anywhere near as successful as their mom, they won’t need any handouts anyway.
2. Simon Cowell – Wants His Son To Struggle Like Him
TV producer and entrepreneur Simon Cowell knows what it’s like to struggle on the way to the top. As he was in the process of building his empire, Cowell ended up financially destitute several times, but those close to him helped him out, nurtured him, and eventually he grew into a money-making machine. You’d think that because Simon knows what it’s like to be broke, to have to rely on handouts, to have to resort to moving back in with his parents as an adult, that he’d want to make sure his son never has to go through similar struggles. But he believes it’s those struggles that have made him the hugely successful person that he is today. Needless to say, he wants his son to be successful too, so his cash certainly won’t be funding his future projects – he’s going to have to go at it alone. Simon’s said that he’s going to donate all of his money to charity when he’s gone, but his son is only a few years old, so he may leave him a little something and change his mind down the line.
1. Jackie Chan – Son Is Already Making A Name For Himself
It’s amazing to think that Jackie Chan’s been kicking ass in the movie industry for over half a century. He’s in his 60s now, but is still able to pull off those incredible moves and martial art skills that have made him an international superstar. He is one of the most-loved actors around, known not only for his martial arts, but his comedic prowess too. He’s starred in some iconic films over the years, in Asia and in Hollywood, establishing himself as one of the biggest stars in the industry – biggest, and wealthiest. But his two kids won’t be seeing any of his wealth. We don’t really know much about his daughter, whom he had as a result of an extra-marital affair – her mom takes care of her – but his son is following in Jackie’s footsteps and is making a name for himself in the movies, and as a singer. Jackie’s probably hoping his boy will make it, as he did, in the industry, so he won’t need anything from his pocket. He’s openly said he won’t be leaving his son any cash – but he hasn’t divulged whether he’d be leaving his daughter anything though, although we’re not sure how involved he is in her life.