Chef and TV personality Gordon Ramsay may be worth $39 million but his fortune is not going into his kids' bank accounts. Ramsay has said how he makes his kids fly economy, while he sits in first class because "they haven't worked hard enough to afford [it]." When it comes to leaving them his fortune, he has said that "it's definitely not going to them, not in a mean way; it's to not spoil them. The only thing I've agreed is they get a 25% deposit on a flat."
Billionaires Bill and Melinda Gates may have money to burn but these two have become an example to the super rich on how to use the money for good. The couple uses their fortune to help children in need through their Bill and Melinda Gates Foundation. When it comes to their children, they know that leaving them billions will not do them any good. Rumors have it, their children will only get $10 million out of their parents' $79 billion fortune.
Andrew Lloyd Webber has made a fortune as an artist creating long-running theatrical shows such as Cats and The Phantom Of The Opera. Despite his fortune, Lloyd Webber is not willing to see his children and grandchildren becoming super rich. He said that he would much rather see his fortune "be used as a way to encourage the arts."
George Lucas has made a fortune thanks to the Star Wars franchise. His four children, however, won't be seeing much of his $4.5 billion. Lucas has vowed to give most of his fortune to fund education because he believes it "is the key to the survival of the human race."
Chef and TV personality Nigella Lawson knows a thing or two about growing up privileged. Despite her fortune, Lawson doesn't plan to leave her children a huge sum to rely on. The food writer believes that financial security "ruins people not having to earn money."
Simon Cowell has built an empire, partly by acting like a cold-hearted judge on shows like Britain's Got Talent and American Idol. And yet, Cowell, who had his first child at 54, has a down to earth approach when it comes to what he wants to leave his son Eric. About his fortune, he has said that he plans on leaving it to charity while giving his son "opportunity" and "time" to teach him all that he has learned.
The late Philip Seymour Hoffman didn't want his kids to turn into "trust-fund kids." The actor left his entire fortune, $35 million to his girlfriend and mother of his children. He said he trusted she would know how to look after them.
Sting has a net worth of $300 million but he doesn't want to leave his six children any of it. He believes the trust funds would be "albatrosses round their necks." His kids are not too sad by the news, as the musician has said that they have rarely come to him for help.
Warren Buffett has pledged to give away 99% of his wealth to charity. It doesn't mean his kids want still get a considerable sum of his net worth. He has spoken about his children being left too much money saying, "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."
Elton John has said that after the birth of his twin boys he has become less extravagant when it comes to his spending habits. Despite spending less, the musician doesn't plan on all of his $400 million fortune to go to his sons' trust funds. "Of course I want to leave my boys in a very sound financial state, but it's terrible to give kids a silver spoon."
Gloria Vanderbilt has made a fortune as an author, an actress and a fashion designer. Despite a net worth of $200 million, Vanderbilt has no plans on leaving any of her fortune to her son. The latter, American journalist and beloved TV personality Anderson Cooper has no problem with this.
Much like the Gates' and Buffett, Mark Zuckerberg and his wife Priscilla Chan have also vowed to give away most of their fortune. The couple has pledged to give 99% of their $45 billion to the Zuckerberg Foundation. The couple wants their daughter, Max, to "find her own way in life."
The fortune of the late Aaron Spelling lies in the hands of his wife Candy. Their daughter, actress and reality TV star Tori Spelling is not too happy about this. She only received $800,000 out of her father's $600 million fortune which is why she is not on good terms with her mother.
Co-founder of the Duty-Free Shoppers group, Chuck Feeney had billions to give to his children. This billionaire, however, chose to give his wealth to the Atlantic Philanthropies foundation in the 1980s. Feeney has often spoken out about wanting to teach his children the value of money and he has even had them work during their college years to pay for their education.
Gene Simmons knows the value of hard work as the famous rocker came from a poor immigrant family. This is the same value Simmons wants to teach his kids. About his children, Simmons has said how "every day they should be forced to get out of bed and go out and work and make their own way."