10 Celebs Who Have No Plans To Leave Their Wealth To Their Kids

Jun 30, 2021Ncuthu W

Just because you're born into a wealthy family, doesn't mean you'll never have to worry about money. Yup, that's right! We're about to share which of your favorite celebrities believe that it is 'every man for himself.' Some say it's unfair, some say it's character building but either way, their wealth won't be left to their children...

Image Credits: Instagram/Melinda Gates

George Lucas

Lucas amassed his millions as the creator of the Star Wars franchise. However, he plans to leave nothing to his kids. The billionaire film producer is keeping his wealth but the kids have benefited from his Star Wars legacy in one way or another. Let's take a closer look at his family...

Image Credits: Getty Images/George Lucas

George's Children

The star adopted his first child Amanda with his first wife film-editor Marcia Lou Griffin. After the split from Griffin, Lucas adopted 2 more kids, Katie and Jett. After his 3 children became adults, he married  DreamWorks Animation chairman, Mellody Hobson and together they had one more child Everest via surrogate. So what does he plan to do with his fortune? 

Image Credits: Getty Images/George Lucas

Donating His Fortune To Fund Education  

The billionaire has decided that his fortune will go towards an education fund. In 2012, the film producer sold his company Lucasfilm to Disney for a whopping $4 billion. During the same time, he shared that he would be donating a majority of the proceeds toward education. This was no surprise because he had been hinting about his plans since 2010. He said the following in a statement...

Image Credits: Getty Images/George Lucas attends the premiere of Disney Pictures and Lucasfilm's "Solo: A Star Wars Story"

He's Passionate About Education 

“I am donating the majority of my wealth to improving education,” Lucas previously stated. “It is the key to the survival of the human race. We have to plan for our collective future – and the first step begins with social, emotional, and intellectual tools we provide to our children.” Even though his kids won't get a cent of his fortune, they have still reaped benefits from Lucas. 

Image Credits: Getty Images/ George Lucas attends the 2017 LACMA Art + Film gala at LACMA

His Kids Have Careers In The Industry 

His oldest daughter Amanda used to be an MMA fighter but she's since put the gloves down to have her first child. Katie works as a writer for Star Wars: The Clone Wars. Lucas's son Jet works in the film industry and his other siblings have also been involved with Star Wars and even had a few acting gigs in the franchise. Isn't that awesome? But what was it like growing up around Star Wars? 

Image Credits: Getty Images/George Lucas and his son

The Unconventional Childhood 

In a SyFy interview, Katie shared, “Like anything else, it has its ups and downs, but I have had some great experiences and have met some incredible people,” she said. “I spent most of my adolescence on the sets, so I have some really fun angsty memories. For instance, I had my first kiss on Attack of the Clones.“ Interesting stuff right? 

Image Credits: Getty Images/ George Lucas (2nd from left) and his daughters attend the Premiere of Walt Disney Pictures and Lucasfilm's 'Star Wars: The Force Awakens'

Gordon Ramsay 

We know Gordon Ramsay as the no-nonsense television personality. It seems he rules his household with similar unapologetic rigor. His tough upbringing and hard-working attitude have informed the way he and his wife Tana have decided to raise their children. Do they at least spoil the kids?

Image Credits: Getty Images/Gordon Ramsay

The Spoils 

Of course, the kids have perks like traveling, the latest gadgets, and lots of celebrity spoils but they're going to have to work their own way to the high life. Love it or hate it not everything comes to them on a silver platter. Check out what Ramsay makes them do...

Image Credits: Getty Images/Gordon Ramsay's Family

He Makes Them Sit In Coach 

You'd think with an estimated $190 million fortune, the TV host would be easygoing with his money but it's not quite the case. The family enjoys luxurious getaways but Ramsay refuses to let his kids fly lavishly. Reports state that while he and his wife permeate in first-class, his children chill out in coach. Read on to see what the fiery dad had to say about it...   

Image Credits: Getty Images/Gordon Ramsay and his wife

His Kids Are Too Broke For First Class   

“They don’t sit with us in first class. They haven’t worked anywhere near hard enough to afford that. At that age, at that size, you’re telling me they need to sit in first class? No, they do not. We’re really strict on that,” he said. Sounds like punishment but he makes a valid point. But is it fair?

Image Credits: Getty Images/Gordon Ramsay

The Line Is Drawn

We can't really expect kids to be little moguls but with all the benefits that come with being a Ramsay, it's quite interesting where Gordon draws his line. There's a lot of other smaller and insignificant privileges he could have cut off rather than a plane ticket. But that's not all, he also puts them on a strict budget...

Image Credits: Getty Images/Gordon Ramsay

The Kids' Budget 

In an effort to keep their kids grounded, Ramsay and his wife put their older kids on a budget. His daughter in university receives $100 a week, while her 3 younger siblings receive $50 a week. From this cash, they're expected to pay their way for buses, cell phones, and anything else they want. So why is he so strict on the finances?

Image Credits: Getty Images/Gordon Ramsay

He Wants His Children To Be Self Made 

It's no secret that Gordon Ramsay made a name for himself purely out of hard work and he wants the same independence for his children. He shared that he will not leave his fortune to them, only a 25% deposit on an apartment. The father of 5 also says that he isn't punishing them but rather acting from a place of love.

Image Credits: Getty Images/Gordon Ramsay

Jackie Chan 

Jackie Chan is one of the most famous people on the planet and that comes with loads of money. But the Rush Hour actor has made it clear that half of his fortune will be going to charity. The actor has two children, a son Jaycee Chan and an estranged daughter named Etta Ng. So what influenced his critical financial decision?  

Image Credits: Getty Images/Jackie Chan

Get Up And Do It For Yourself 

Chan believes in one making their own way through life. ‘If he is capable, he can make his own money. If he is not, then he will just be wasting my money,’ said the star about his son. He also shared that at one point he wanted Jaycee to enroll in the army to build up character. 

Image Credits: Getty Images/ Jackie Chan accepts the Albert R. Broccoli Britannia Award for Worldwide Contribution

Ashton Kutcher 

Ashton was introduced to us on That 70s Show and since then he's been successful enough to amass a pretty hefty fortune. If you put it together with his movie star wife Mila Kunis, well you can only imagine the richness. Despite their abundance of cash, the couple has decided to not leave their children with any of the cheese, instead, they will donate to charities. What's more?

Image Credits: Getty Images/Ashton Kutcher

The Couple Has Two Kids Together 

The pair shares two sweet kids named Wyatt and Dimitri. Kutcher acknowledges that the kids are already very privileged and he would like for them to be responsible and humble as they get older. However, the actor won't leave them hanging completely. Let's check it out...

Image Credits: Getty Images/Ashton Kutcher and Mila Kunis

A Good Business Plan

Ashton says he will support them in their endeavors and even invest in their ideas if they prove to be worth it. He shared that if they approach him with a good business plan, he'd be more than willing to invest, so at least they will have that. Kunis agrees with this philosophy...  

Image Credits: Getty Images/Ashton Kutcher

She Doesn't Want Their Kids To Live Off Them 

Mila shared that she wants her kids to be independent and not leech of their mom and dad for the rest of their lives. She made a comment about trying to raise the opposite of bad people as there's enough negativity going on in the world. 

Image Credits: Getty Images/Mila Kunis

Elton John 

Everyone knows the name, Elton John. He's a singer, songwriter, and composer. He lives in the lap of luxury thanks to the millions he's accumulated over the span of his career. However, when he's no longer around, his sons won't have the same privilege. Let's find out why? 

Image Credits: Getty Images/Elton John

His Kids Will Have To Earn Their Way Through Life 

The Rocket Man singer and his husband David Furnish have decided not to leave their fortune with their children Zachary and Elijah. “Of course I want to leave my boys in a very sound financial state," he said. "But it’s terrible to give kids a silver spoon. It ruins their life," he said. Elton also admitted that his sons are spoilt rotten...

Image Credits: Getty Images/Elton John and David Furnish

Hard Work Is Everything 

"Listen, the boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are," John added. "But you have to have some semblance of normality, some respect for money, some respect for work.” Indeed, we hear you, Elton! What else have they shared about this?

Image Credits: Getty Images/Elton John

The Couple Works Hard To Live In Luxury

By all means, building wealth is not an easy task but it surely is rewarding. Elton John went on to say that all he and Furnish have amassed is from hard work and so their kids should get to it on working hard in their own lives! It's only fair, starting with the chores... 

Image Credits: Getty Images/Elton John and David Furnish

Elton's Chores For The Kids

According to John, his children have to pull their weight around the house by doing chores, helping in the kitchen, and tidying up their rooms. Wow! You'd think Elton John's kids would have somebody running around after them making sure everything is neat and tidy. Well, at least they get rewarded with a little star afterward. 

Image Credits: Getty Images/Elton John

Sting 

Sting is one of the biggest rockstars in the world. He started from humble beginnings and built an empire by making music. Now, he says he won't be leaving his children a big inheritance. The former Police lead says he wants his 3 sons and 3 daughters to work for their own money. Let's see what he has to say about it...

Image Credits: Getty Images/Sting

His Kids Are Already Independent 

"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," he says. He also wants to build a solid character trait in them. Read on to find out more...

Image Credits: Getty Images/Sting

Hard Work

There's a certain pride that comes with attaining your own success, Sting says he wants his children to experience that joy. You can't really understand the value of hard work if everything is just handed to you. So what did he tell them about the inheritance?

Image Credits: Getty Images/Sting

There Will Not Be Much To Inherit

Sting has been clear with his children and the truth is that they spend most of the money that he's made. "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 once shared. Still curious? 

Image Credits: Getty Images/Sting

He Doesn't Want Them To Be Trust Fund Babies 

The rockstar says that he doesn't want to leave trust funds that they will run through. But of course, as a loving father, he will always be there to help them whenever they stumble. But all of this won't be an issue for his kids as they have always been hard workers. 

Image Credits: Getty Images/Sting and his family

Hard Working Kids 

Sting shared that his kids have always rolled up their sleeves for whatever they want. He said, “They have this work ethic that makes them want to succeed on their own merit. People make assumptions, that they were born with a silver spoon in their mouth, but they have not been given a lot.”

Image Credits: Getty Images/Sting and his wife

Simon Cowell

The brash judge of the Idols and X-Factor franchise is not holding back about the fact that he won't be leaving his son any money. He has a $350 million fortune that will be distributed to charity instead. Although, he's not quite sure what cause he'll be supporting. He's mentioned animals but moreover, he made an interesting statement...

Image Credits: Getty Images/Simon Cowell

He Doesn't Believe In Generational Wealth?

The reason behind Cowell's strong stance on passing down his wealth to his only son is simple. "I don't believe in passing on from one generation to another," he says. This is quite surprising as the British are known for passing down an inheritance to their children. Instead, Simon is only offering his assistance. What are his plans? 

Image Credits: Getty Images/Simon Cowell

He'd Rather Create Opportunities For Others

Cowell says that he'd much rather be remembered for assisting others in their quest for financial freedom rather than making his child richer. "Your legacy has to be that hopefully, you gave enough people an opportunity so that they could do well, and you gave them your time, taught them what you know," he said.

Image Credits: Getty Images/ Simon Cowell attends "America's Got Talent" Season 14

Mark Zuckerberg 

Wow, one of the world's most famous billionaires will not be leaving his children an inheritance. We're starting to think these rich people know something we peasants don't know. The Facebook CEO and his wife Priscilla Chan have decided to do something a little different rather than leaving their billions to their children. Let's check it out...

Image Credits: Getty Images/Mark Zuckerberg

The Chan Zuckerberg Initiative

The Zuckerbergs created the Chan Zuckerberg Initiative. The LLC was founded to offer  “personalized learning, curing disease, connecting people, and building strong communities” all over the world. The couple also shared that they will be donating 99% of their Facebook shares - at the time it was worth $45 billion. This is incredible stuff. What else has the couple revealed?

Image Credits: Getty Images/Mark Zuckerberg and Priscilla Zuckerberg

Humble And Rich

“We know this is a small contribution compared to all the resources and talents of those already working on these issues. But we want to do what we can, working alongside many others,” Mark said. The Facebook creator has an estimated worth of $63.5 billion. Wow... that is a lot of money! 

Image Credits: Getty Images/Mark Zuckerberg

Kirk Douglas 

In 2020, one of Hollywood's greatest actors passed away at the age of 103. But Kirk was also Michael Douglas's father. When he passed, he didn't leave anything for his children. Not that they needed it but it's interesting that he decided not to leave an inheritance for them. Let's find out more... 

Image Credits: Instagram/Michael Douglas

He Donated A Majority Of His Wealth 

The Hollywood icon died with an estimated wealth of $61. $50 million. This fortune was spread out among various charities including Sinai Temple in Los Angeles, Culver City’s Kirk Douglas Theatre, Children’s Hospital Los Angeles, and St. Lawrence University.

Image Credits: Getty Images/ Kirk Douglas and Anne Buydens

Bill Gates 

As the founder of Microsoft, Bill is one of the most wealthy people in the world. You'd expect his kids to be set for life but not quite. The reality is that his children will not be receiving a majority of his fortune. He and his wife Melinda have decided to leave them a portion of their billions. It seems they are humble people. 

Image Credits: Getty Images/Bill Gates

Their Wealth Doesn't Define Them 

Bill and Melinda are worth about $96.5 billion, and a charity organization worth $50 billion. They feel that having too much money is quite unfair. “It’s not fair that we have so much wealth when billions of others have so little,” the couple said.  So what about their children?

Image Credits: Instagram/Bill Gates

The Furthest Thing From Spoilt 

The couple has two daughters and a son. If you remember, they didn't let their kids have cell phones until they turned 14 despite their tech-savvy dad. But they aren't being strict for no reason, they're trying to protect their kids and build their character. So how much will they inherit?

Image Credits: Instagram/Melinda Gates

They Will Still Be Millionaires

Bill has shared that the kids will inherit $10 million each. To us, that sounds like a whole lot of money but to billionaire kids, it's just a bit of pocket money. The reason why he doesn't want to leave them a lot of money is because he doesn't want them to be lazy. Here's what he had to say about it...

Image Credits: Getty Images/Bill Gates

Preventing Them From Being Spoilt

“We want to strike a balance where they have the freedom to do anything but not a lot of money showered on them so they could go out and do nothing,” Gates explained. The rest of the fortune will be donated to charities. Well, we guess they're learning responsibility and work ethic. 

Image Credits: Getty Images/Bill Gates

So we've reached the conclusion of the wealthy parents who won't be leaving their children a large inheritance. Do their choices sound reasonable, if you had millions in your bank would you do the same? Let us know in the comments. We'd love to hear your thoughts! Don't forget to hit the like button and share the article with your friends. 

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