The celebrities that grace the top rankings of the Forbes List are among the richest in the world. These well known and hard working individuals have a net worth that reaches million and billion dollar ranges. These inventors, investors, media moguls, and CEOs are often self made philanthropists who have worked for decades to obtain their fortune and live a life of luxury others can only imagine. Many expect the fortune of these wealthy members of society to be passed along to their children and generations after, but an increasing amount of celebrities are choosing an unlikely future for their kids by dismissing the idea of a trust fund and leaving their names out of their wills.
While these wealthy individuals may be generous with their fortune towards charities and non-profit organizations, the same cannot be said for their offspring. These celebrities know the value of hard work and self-sufficiency. They have dedicated endless hours to achieve their success and believe that is the most important thing to pass along to the next generation. They all strive to create a balanced life for their children and make sure they know how important it is to work for success. If the children of these wealthy millionaires and billionaires want to continue the life of a high roller, they will have to earn it.
10 Nigella Lawson
English journalist, Nigella Lawson has worn many titles throughout her career, and acquired a massive amount of wealth while doing so. This broadcaster, television personality, celebrity chef, and food writer is currently worth 15 million dollars and says she will not be leaving her children a penny. 13 year-old Cosima, 11 year-old Bruno, and 12 year-old Phoebe will have to earn their own riches. She has not stated what she will do with her wealth, but she hopes her children will learn from her decision. She wants them to know she is working and that you have to work in order to earn money. “It ruins people not to have to earn money,” she says.
9 Philip Seymour Hoffman
Actor, director and producer, Philip Seymour Hoffman was determined not to have “trust fund kids.” According to his accountant and lawyer, Hoffman rejected the notion of passing his wealth to his children numerous times. He stared in popular films like The Hunger Games, Boogie Nights, Along Came Polly, and left a 35 million dollar fortune after his death in February of 2015. In his will that was created when his son was just a year old and before the birth of his two daughters, he ordered everything to go to his “friend and companion MiMi O’Donnell.” O’Donnell was Hoffman’s longtime girlfriend and mother to all three of his children.
Rock star Sting has declared that he will not “create albatrosses” around the neck of his children by passing along his wealth to them. The music legend is one of the world’s most successful rock stars, creating award winning music since the 1980s. Sting has earned a net worth of 270 million dollars and does not plan on sharing it with his 6 children. He has already warned that “there won’t be much left because we are spending it.” Sting (whose real name is Gorgon Summer) and his wife Trudie Styler, want their kids to succeed on their own merit. They know they have to work and rarely ask him for anything, which he respects and appreciates.
7 Gene Simmons
6 Jackie Chan
Highly successful and famous action movie star, Jackie Chan has also decided to withhold his riches from his son. Chan has become popular for roles in Rush Hour, The Karate Kid, and The Tuxedo. His decades of acting and Kung Fu fighting has accumulated him 350 million dollars. Chan has supported his son, Jaycee Chan’s education along with his career in entertainment, but has left his son completely out of his will and donated all of his money to charity. Chan explained “if he is capable he can make his own money, if he is not then he will just be wasting my money.”
5 Ted Turner
Media mogul Ted Turner has spent many years working in the cable television industry, earning him a 5 billion dollar fortune. The founder of the Cable News Network, also known as CNN, changed the face of news and cable television. His 5 children Beau, Teddy, Jennie, Laura, and Rhett Turner will not be living a billion dollar life of luxury unless they work for it. Turner is dedicated to creating a healthy and sustainable future for his children. He has given away billions to numerous charities and organizations, and says by the time of his death, all his wealth will have gone to charity.
4 George Lucas
3 Michael Bloomberg
The former New York City Mayor is among the wealthiest and most powerful people in America. He is placed among the top ten richest people in the United States, but the same will not go for his kids. Bloomberg has decided his children will have to earn their way to success. His daughters Georgina and Emma Bloomberg will not be left their father’s 35 billion dollar fortune. The former mayor and partial owner of the Bloomberg LP, has shown how important he believes education is for future generations with massive donations to the cause. He has donated millions to Hopkins University, Cornell Tech, and various non- profit organizations.
2 Warren Buffett
The philanthropist and CEO of Berkshire Hathaway has decided to follow in the steps of America’s wealthiest and donate his fortune to charity instead of his three children Howard, Peter and Susan Buffett. Warren Buffett is one of the most successful investors of the 20th century and occupies 3rd place on Forbes' 2015 list of the World’s richest. His class A stock, railroad, insurance and other subsidiaries has amounted to a large 65 billion dollar net worth. He wants his children to follow his success and is sure that they know the value of self-sufficiency and a strong work ethic. Buffet has pledged the majority of his wealth to the Bill and Melinda Foundation to help support the advancement of health and educational.
1 Bill Gates
Bill Gates, the co-founder of Microsoft, the world’s largest PC software company has made a major impact on the world of personal computers and has the wealth to show for it. As of June 2015, Bill Gates is worth 78 billion dollars. While most may assume his children Jennifer, Phoebe and Rory will be living a lavish life for decades to come, Gates has chosen a different path for his kids. Instead of passing his wealth to his three children, the self made billionaire has chosen to help the less fortunate and donate his money to The Bill and Melinda Gates Foundation, a charity created by Bill Gates and his wife. Although the Gates family is among the richest in the world, Bill and Melinda believe it is very important that their kids are balanced. Gates explained at a conference in Vancouver, Canada, “We want to strike a balance so they have the freedom to do anything.”