Millionaires & Billionaires

The Wealthy Elites Who Will Not Leave Their Children Rich When They Die

The Wealthy Elites Who Will Not Leave Their Children Rich When They Die

It seems more and more wealthy celebrities and business people won’t be willing to leave huge sums of their own hard-earned fortune to their children when they’re gone. They want to teach their children valuable lessons — that money and wealth doesn’t fall from the tree, and that the capability of working for a living is something that anyone cannot buy.

Here are some of wealthy elites who have decided to cut their children out of their wills:

Bill and Melinda Gates1. Bill and Melinda Gates

Microsoft’s Bill Gates — currently the richest man in the world — and his wife Melinda have announced that they won’t leave their huge sums of fortune to their three children. However, the couple have also said that they intend to leave $10 million for each of their kids when they die — just a comfortable enough amount of money. Still, the couple wants their children to work for a living. It seems certain that they are on their way to bequeath 99% of their wealth to philanthropy

In 2009, Gates, Facebook founder Mark Zuckerberg and business magnate Warren Buffet founded The Giving Pledge, by which they and other billionaires pledge that they should give at least half of their fortune to charity.

Mark Zuckerberg2. Mark Zuckerberg

Facebook founder Mark Zuckerberg and his wife Priscilla Chan may be one of the elite billionaires in the world. But the couple won’t be leaving their children Maxima and their soon-to-be-born second daughter a huge chunk of their wealth.

Instead, Mark and Priscilla have pledged that they will donate 99% of their fortune to the Zuckerberg Foundation when they die.

Gordon Ramsay3. Gordon Ramsay

The colorful and controversial British celebrity chef has recently announced that he won’t leave his fortune to his four kids on his will. He is known as tough not just in the kitchen, but also in his family life. He won’t allow his kids to sit with them in first class, or even dine at any of his restaurants. He wants them to work and earn their own money. It is not so surprising, since Ramsay himself worked his way to the top and wants his children to experience the same thing, and appreciate the fruits of their own labor.

Jackie Chan4. Jackie Chan

The internationally-famous Hong Kong actor and martial arts star has insisted that he won’t leave his huge fortune to his son Jaycee upon his death. Instead, he will be giving most of them away to charity. He reportedly explained to the press: “If he is capable, he can make his own money. If he is not, then he will just be wasting my money.”

Nigella Lawson5. Nigella Lawson

Nigella Lawson herself came from a well-heeled family. But in complete fairness to her, the fabulous celebrity chef has made her own billions through her cooking shows and cookbooks. She won’t leave her children filthy rich when she dies, saying that she wants her kids to get their own jobs and have their own careers like she did. Despite that, she wants to ensure her children’s education. She explained: “I am determined that my children should have no financial security. It ruins people not having to earn money.”

Gloria Vanderbilt6. Gloria Vanderbilt

Gloria Vanderbilt may be an heiress, but she made her own considerable fortune particularly from designing the now-ubiquitous blue jeans.

She is the mother of CNN anchor Anderson Cooper, who reveals he’s not going to inherit his mother’s fortune. And he’s perfectly okay with it — in fact, he’s even grateful that he won’t be receiving any. He says, “Who has 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.”