The majority of the workforce has no option but to work very hard for each dollar they make. There are others who are lucky enough to be born into a wealthy family. However, a background of prestige and privilege does not guarantee an inheritance. Some affluent people actually left their kids out of the will to make sure they put in the effort to earn money. Tough love sometimes the best way to go about these things. This list will show you 15 children who won’t get anything from their rich celebrity parents, but there are also 5 who made millions of dollars already to mix it up!
Mila Kunis And Ashton Kutcher
Before Ashton Kutcher and Mila Kunis gave kids much thought, they agreed that they wanted to raise ones with strong values. They promised not to raise spoiled brats who would just leech off their wealth. Kunis said that teaching her kids the value of hard work is “so important because we both came from pretty solid poverty backgrounds and grew up very poor and are very much self-made and are very aware of what a dollar is worth. Nothing’s been handed to us.” She made it clear to the children that they would not get any money from them and even tells the little ones, “Mommy and Daddy may have a dollar, but you’re poor. You are very poor, you have nothing. Mommy and Daddy have a bank account.”
With a net worth of $54 million, Gordon Ramsay is a loaded man. However, he worked hard to get to where he is right now. The sassy chef and reality star is a father to four children: Megan, Matilda, Jack, and Holly. He does not plan on leaving them any money: “My fortune won’t be going to my children”. He has been vocal about raising them to be thankful for what they have and not expect a lavish lifestyle from him. He has said that he and his wife take first-class flights but make the kids fly coach since they have not “earned” it just yet. It might sound harsh, but he only wants to teach them a valuable thing.
A lot of people are aware that Mark Zuckerberg reached his billionaire status by co-founding Facebook. However, not many know that he plans to leave 99 percent of his finances to charities and not his two kids! The entrepreneur has two daughters, August and Maxima. He promised that he will donate the majority of his fortune to philanthropic organizations after his first child was born. He said that he instead plans to give away his Facebook shares, worth $450 million. Even though his kids will still have a pretty good potential inheritance, we bet he will teach them the importance of giving and working hard.
Michael Jackson was one of the most famous superstars that history has ever seen. The entertainer did not amass his fortune by taking it easy. He passed away in 2009, and there was controversy surrounding his actual net worth. The numbers went as high as $500 million. Even years after his death, his estate has still earned millions of dollars with TV specials, album sales, and other deals. He raked in $75 million in 2019 alone. He gave his kids $5 million to divide amongst themselves on top of an annual inheritance of $8 million. Their major expenses are already covered, and the list includes $30,000 a year on tuition fees and lavish holidays. Paris, Prince, and Blanket are set for life even though they are all still very young!
Bill Gates has a $90 billion net worth to his name. Even though this is an incredible amount of money, the Microsoft co-founder wants his kids to learn how to do things the old-fashioned way. He was quick to shut down suggestions that Jennifer, Rory, and Phoebe would get $10 million each after his passing: “They won’t have anything like that. They need to have a sense that their own is meaningful and important. You’ve got to make sure they have a sense of their own ability and what they’re going to go and do.” He also wants to give them opportunities while he is still around by funding their education. He is firm about not supporting them beyond this and 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.” Together with his wife Melissa, he plans to leave their money to different charities instead of giving it to their children.
Jackie Chan has worked hard to make a name for himself as an actor, director, martial artist, stuntman, and singer. He has an estimated net worth of $350 million, but his kid is not getting anything from him. He is confident that his son Jaycee, his son, would not need it anyway: “If he is capable, he can make his own money. If he is not, then he will just be wasting my money.” The logic works for kids of celebrities since it will help them develop self-worth and resilience. The star also said that he plans to leave his entire fortune to charities when he passes.
Simon Cowell earned household name status when he was an American Idol judge. This music producer already had a high net worth back then, but his annual salary of $95 million blew it up to $550 million. You might think that Eric, his only son, is entitled to it. This is not the case! The music industry legend once said, “I’m going to leave my money to somebody. A charity, probably — kids and dogs.” He went on to say that he does not “believe in passing on from one generation to another.”
Allegra Versace, the child of designer Donatella Versace and model Paul Beck, grew up in the city of Milan. The Italian socialite and heiress has a lavish lifestyle. There is almost no doubt at all that she is going to inherit money from her mother, but she already received a huge sum when her uncle Gianni died in 1997. She became a millionaire at the tender age of 11! When she was 18 years old, she got more access to money and power from his estate. This was how she ended up having millions of dollars to her name. At the moment, she has a stunning net worth of, wait for it, $800 million!
Anderson Cooper is a famous news anchor and journalist working at CNN. He comes from wealthy moguls with generational wealth. He is a member of the Vanderbilt family, so he should be an heir to the huge fortune the clan has earned since the early ‘20s. His ancestors made millions from the shipping and railroad industries. His mother herself inherited a trust valued at $5 million, which she turned into a $200 million fortune through design. When Cooper spoke to Howard Stern, he said that he would not be getting any inheritance: “My mom’s made clear to me that there’s no trust fund.” He has no problems with her decision and said, “Who’s inherited a lot of money that has gone on to do things in their own life? From the time I was growing up, if I felt that there was some pot of gold waiting for me, I don’t know that I would’ve been so motivated.” Luckily, he has made $200 million on his own anyway!
Gene Simmons is one of the founders of KISS, so it is no wonder he is one wealthy man. This bassist already has $300 million to his name, but it is not automatically going to his kids, Sophie and Nick. They will be provided for, but nothing will go beyond this. Gene once said, “In terms of an inheritance and stuff… they will never be rich off my money because every year they should be forced to get up out of bed, and go out and work and make their own way.” He wants them to understand the value of hard work. He expounded the matter some more by saying, “I don’t want them to say, ‘Thanks, dad, for making me rich.’ No, you wanna be able to stand on your own two feet and say, “I did that.”
Sting has earned his incredible fortune of $300 million. The star is the father to three daughters and three sons, but he says that they won’t be rich right away when he passes. He has admitted that he spends as much as he could so that nothing will be left for them. The musician 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 says that he hopes the kids will be able to support themselves. They were never raised with a silver spoon in their mouth. Their father said, “They rarely ask me for anything, which I really respect and appreciate. They have the work ethic that makes them want to succeed on their own merit.”
Victoria And Marlena Laboz
They might only be 21 and 17 respectively, but they became millionaires after the passing of their rich Manhattan landlord dad. He left $37 million in their names. The generosity of Maurice Laboz came with a few strings. They already had access to some of their inheritance, but the future is even brighter for them. Their dad specified that they would not get at least $10 million until they reach 35 years old and left them guidelines to follow to get the rest of their funds. The older of the two, Marlena, will get $500,000 if she gets married but her groom will need to sign a prenup. She is going to get $750,000 by graduating from a good university. He agreed to triple their annual salaries and pay a huge amount of cash when they have kids born within wedlock as well. His strict guidelines are not easy, but we daresay that it is a better method than just handing over his life’s worth to his daughters in one go.
Have you seen Shark Tank? If so, you might know Kevin O’Leary to be a harsh investor. His real-life persona is not that different from the way he is portrayed on TV. He did not make his money by sitting on the sidelines! His net worth is believed to be worth $400 million but his kids Trevor and Savannah should expect to get any of it. Even though Kevin supports their education, he has admitted that he does not want to leave them a dime. He explained, “I am not planning on giving my kids any of my wealth. You want to prepare your children for launching their own lives. I tell wealthy parents that if they don’t kick their kids out of the house and put them under the stresses of the real world they will fail to launch – they will become unsuccessful adults. I really believe that.”
Nigella Lawson is a popular English journalist, gourmet food writer, and TV personality. She grew up privileged because her parents were well-off. Even though she had this sort of background, it only made her more cautious about raising kids the same way. Her children Bruno and Cosmina are being raised in a different way. The star once said, “I am determined that my children should have no financial security. It ruins people not having to earn money.” She stayed honest during the interview and admitted, “I argue with my husband, because he believes that you should be able to leave money to your children. I think we’ll have to agree to disagree.”
George Lucas created one of the biggest franchises the film industry has ever seen, so he is one rich guy. The Star Wars creator has a net worth of about $5.2 billion! Whoa. However, he does not plan to leave a lot of it to his kids. Everest, Jett, Amanda, and Katie all know about his status and wealth, but they would not have access to all of it. Instead, George plans to leave at least half of it to charities. He wants to help as many kids as he could and wrote the details of the mission in an open pledge letter. He said, “I am dedicating the majority of my wealth to improving education. We have to plan for our collective future—and the first step begins with social, emotional and intellectual tools we provide to our children.” Isn’t that nice to hear?
There are folks who can only dream of being rich, but this has been the reality for Athina Onassis ever since she turned 18 years old. She is the last living descendant of shipping tycoon Aristotle Onassis. When her grandfather passed away, she became a billionaire after receiving an estimated $2.7 billion. This includes shares, bonds, artwork, island properties, company rights, and a private jet. She has been compared to a Greek princess, and we can see why. When she turned 21 years old, she got another $2 billion and received the title President of the Onassis Foundation. Whoa, she is living the dream!
Andrew Lloyd Webber
Andrew Lloyd Webber has an estimated net worth of $1.2 billion. The composer used his ambition and talent to get to his current spot. We all love his plays, right? While he can distribute a lot of money to his 5 kids, this is not part of his plan. He has said that the children know this and have no issues with it: “They aren’t bothered. They don’t think that way. It is about having a work ethic – I don’t believe in inherited money at all.” Nicholas, Alastair, Imogen, William, and Isabella must have developed good worth ethic this way! The composer said, “I am not in favor of children suddenly finding a lot of money coming their way because then they have no incentive to work.”
This British TV producer has several million dollars to her name, but this does not mean her kids will get their hands on the fortune. She has three kids: Chester, Holly, and Tilly. This mom wants them to be able to stand on their own two feet without extra help. She is steadfast about the kids learning to value money and hard work! When she spoke to The Sun, Davina McCall said, “I look at my daughters now and have painstakingly told them they won’t be inheriting any money. Me and [my husband] plan on spending every penny.” She also explained, “I’d hate to have a spoiled brat. I want them to be appreciative”.
Pierre Omidyar has a personal wealth of $10 billion thanks to his popular auction website, eBay. He has said that he is not planning to raise kids who will just leech off him. He is a huge philanthropist who wants his children to have the same values. He has said that the vast majority of his money will go to a number of charities instead of his kids. “We have more money than our family will ever need. There’s no need to hold onto it when it can be put to use today, to help solve some of the world’s most intractable problems,” the entrepreneur once said.
Billie Lourd comes from a family that gave her very big shoes to fill. She was not only the granddaughter of Debbie Reynolds but also the daughter of Carrie Fisher. The young woman had been making a name for herself when her mother passed away suddenly in December 2016. Many were devastated, but Debbie Reynolds was the most heartbroken of them all. The legendary Old Hollywood star passed away only one day after her daughter! After losing two of her family members, Billy Lourd had to navigate life on her own. She was 25 years old when she inherited $7 million from their estates. On top of that, she also got luxury cars, life insurance policy, jewelry, and rights to her mom’s image and likeness.
Are you ready to hear about kids who were born to wealthy people but will not be inheriting their parent’s fortune? Sting, for one, has no plans of giving his six kids any of his $300 million! The musician spoke to Mail on Sunday and said, “I told them there won’t be much money left because we are spending it.” He also said that inheritances would just be “albatrosses round their necks.” That is not all because he also said, “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.” Well, he is not alone! Here are ten other celebrities who want their children to hold their own in this world.
Bill Gates – $78.6 Billion
When the Microsoft founder participated in an “Ask Me Anything” thread on Reddit, he said that his kids would not be better off if he simply left them his money. He was inspired by Warren Buffett and wants to leave his fortune to certain causes. He and his wife run a charity called The Bill & Melinda Gates Foundation. Together with Buffett, he is trying to encourage fellow billionaires to do the same thing.
Warren Buffett – $65.1 billion
The Berkshire Hathaway boss man hasn’t been shy about his distaste for leaving an inheritance to his family members. “I’m not an enthusiast for dynastic wealth, particularly when 6 billion others have much poorer hands than we do in life,” he reportedly said at a 2006 event following his announcement to donate the vast majority of his fortune. Since then, Buffett has pledged to give away a full 99% of his money to charity and has encouraged other billionaires to give away at least 50% of their wealth through The Giving Pledge.
Michael Bloomberg – $34 billion
Michael Bloomberg is the former mayor of New York City. He made a fortune as the owner of a financial information company bearing his name. He has two daughters but signed the Giving Pledge by Buffett and Gates anyway. In the letter, he wrote, “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.” His very own Bloomberg Philanthropic Foundation focuses on different causes such as literacy and health care.
Pierre Omidyar – $7.6 billion
Best known as the founder of eBay, Pierre Omidyar and his wife plan to give away their incredible wealth. In 2001, he explained, “We have more money than our family will ever need.” He went on to add, “There’s no need to hold onto it when it can be put to use today, to help solve some of the world’s most intractable problems.” Together with his spouse, he launched the Humanity United Foundation that supports nonprofits focused on anti-slavery.
George Lucas – $4.9 billion
After Disney bought off his Star Wars franchise for $4.5 billion, George Lucas announced that proceeds from this purchase would go towards the improvement of education. The father of four is also committed to giving up his wealth. His 2012 Giving Pledge letter read, “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.”
Ted Turner – $2.2 billion
In 1990, Ted Turner started the Turner Foundation. It hands out grants on environmental causes. It was a family foundation so his kids could also get involved in philanthropic work. In 1997, he went on to launch the United Nations Foundation by initially pledging $1 billion. This media mogul wrote, “At the time of my death, virtually all my wealth will have gone to charity.”
Simon Cowell – $500 million
Last year, the X Factor judge and music mogul, who has a 16-month-old son, told the press that he doesn’t believe in passing on wealth from one generation to another. Rather, he plans to leave his money to charity, likely benefiting “kids and dogs.”
Kevin O’Leary – $300 million
This Canadian investor and businessman is known for serving as a judge on Shark Tank. In one interview, he said that he does not plan to pass on his wealth to his children. “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?” he explained. “Fear motivated me, and it will motivate them.” He also said that once they are done with education, he is going to kick them out of the house. However, he did say that he will put up trusts for his grandchildren and great grandchildren!
Jackie Chan – $140 million
This 60-year-old martial artist is another star who plans to give away his wealth to charitable causes. None of it is going to his son. “He can make his own money,” he said when he spoke to the press. He is a UNICEF Goodwill Ambassador and advocates against animal abuse. He also launched the Jackie Chan Charitable Foundation, which focuses on disaster relief and education.
Nigella Lawson – $15 million
This celebrity chef recently made headlines when she and advertising mogul Charles Saatchi got divorced last year. She told a British magazine called My Weekly that the kids will need to work and stand on their own two feet when they are done with college. “I am determined that my children should have no financial security,” she explained. “It ruins people not having to earn money.” However, she has denied that they will not have a place in her will. She defended this by saying that she does not want to leave them starving and destitute.