Celebs Whose Kids Won't Inherit Their Wealth
Most parents want to leave a little something for their children, even if they don’t have much to give them. It would be easy to assume that wealthy people want to do the same — turning their kids into instant millionaires — but that’s not always the case.
Sometimes, the rich and famous have different ideas about how to use their money, leaving their kids with little or even no inheritance at all. Check out these famous parents who are not leaving it all to their kids and learn more about the reasons behind their decisions.
Warren Buffett, a.k.a. the "Oracle of Omaha," has made quite an enormous fortune during his lifetime through great investments and hard work. Currently, he has a net worth of $90.6 billion. He didn’t start out wealthy, however. In fact, he made most of his money after he turned 50.
Funny man, actor and martial artist Jackie Chan is a very accomplished and lovable actor. For more than five decades, he has worked on many movies as the star, stunt man or sometimes both. His impressive career has netted him around $400 million.
King of Pop Michael Jackson was a success by any standards. When he passed, his net worth was reported to be around $500 million. He didn’t leave it all to his kids, though. Jackson split his fortune between his mother, his kids and the charities he supported.
Gene Simmons is well known as the member of the rock band KISS who always had his incredibly long tongue rolled out. Although he made tons of money with KISS, he added to his wealth with other ventures throughout the years, bringing his net worth to more than $300 million.
Tony Curtis started his acting career in 1948. Over the next 60 years, he was in more than 100 films, including Some Like It Hot and Spartacus. He married a total of six times and fathered six children, one of whom is the beloved Jamie Lee Curtis.
Ashton Kutcher and Mila Kunis are two very talented and successful Hollywood actors who have amassed a fortune of around $200 million. The couple has two kids together. The oldest is only 15 months old, but they have already made some major parenting decisions.
You would think that being the child of Microsoft founder Bill Gates would mean you’re set for life, but they need to be good money managers for that to be the case. Although he and Melinda have a net worth of more than $100 billion, the kids are only receiving $10 million each.
When Shark Tank's Kevin O' Leary graduated from college, his mother cut him off financially. That move inspired his many successes. Now, he uses the same tactic with his own kids. O' Leary says he is responsible until the last day of college; after that, they are on their own.
George Lucas, the creator and producer of the Star Wars and Indiana Jones franchises, lined his pockets quite heavily upon selling the Star Wars franchise to Disney. His current net worth is more than $6 billion, but it will not be going to his four kids.
Sean Connery, better known as James Bond, had a less than desirable childhood. After hard work, determination and a lot of odd jobs, he made his way into modeling and acting. His success has earned him more than $350 million in his 60-year career.
The talented musician and writer of the beloved song "Can You Feel the Love Tonight," Sir Elton John has earned hundreds of millions of dollars during his career. His two little ones won’t be getting the full fortune upon his passing, however.
Andrew Lloyd Webber
Composer for The Phantom of the Opera, Cats, Evita and more, Andrew Lloyd Webber has achieved a net worth of $1.2 billion. According to Webber himself, he doesn’t believe in inherited money, as it teaches kids not to work. He has five children, none of whom will be inheriting those billions.
Mark Zuckerberg and Priscilla Chan
Mark Zuckerberg, co-founder of Facebook, and his wife Priscilla Chan, a successful pediatrician, are quite the couple. Their careers have netted them more than $70 billion, of which only about 1% is set to go to their kids. Zuckerberg and Chan have committed the other 99% to several charitable endeavors.
Curtis Jackson III, a.k.a. 50 Cent, has taken his oldest son out of his will. Over the last several years, some ongoing drama has occurred between father and son, leading to 50 publicly disowning Marquis Jackson and saying some pretty nasty things on social media.
The Godfather actor Marlon Brando amassed a fortune of around $100 million throughout his 60 years of impressive acting. He also fathered 11 children, but it seems like two of them didn’t get a dime. In fact, it’s not clear whether the other nine got an inheritance either.
Mickey Rooney graced the screen from the era of silent movies all the way up to more recent films, such as Night at the Museum. During his career, he made a pretty good sum of money. He had eight kids and a stepson.
Sting is an actor and a musician in the band The Police. Although he has amassed a net worth of around $400 million, he started his career with a series of less well-paying jobs, such as construction worker and teacher.
Andrew Carnegie is known as one of the wealthiest Americans in the country's history, thanks to his fortune that would be worth almost $400 billion today. He got rich expanding the U.S. steel industry and various other ventures.
Famous Hollywood actress Joan Crawford made a name for herself on screen. She was beautiful and talented and able to play a variety of roles well. Her career earned her a net worth of $2 million, and she adopted several children during her life.
Simon Cowell, the mind behind X Factor, Britain's Got Talent and America's Got Talent, just became a father a few years ago. Throughout his career, he has earned a net worth of $500 million. However, little Eric probably won’t get that inheritance.
Celebrity chef, journalist and author Nigella Lawson is also a mother of three kids. Through hard work, she has built a net worth of more than $20 million, and she has decided that her kids won’t be receiving that fortune upon her passing.
Gordon Ramsay is a very famous and successful chef, but he is probably more known for his angry outbursts and his not-so-kid-friendly rants. He makes millions every year, adding up to a net worth in the billions, but he and his wife agree that it won’t go to their children.
Gloria Vanderbilt grew up living a life of fortune as an heir to a very gigantic family fortune. Even so, she worked as an actress, an author, a fashion designer and more to further grow that wealth. None of it went to her son when she passed away.
Aaron Spelling was the very successful producer of hit shows like Charlie's Angels, The Love Boat, Starsky & Hutch, Melrose Place and, of course, Beverly Hills 90210. He was also actress Tori Spelling's dad. He amassed a $600 million fortune throughout his career.
Fitness model and prior presenter of Big Brother, Davina McCall says she is not leaving her kids any of her wealth. Her net worth is around $4 million, and she plans on enjoying the money that she worked hard to make.
Robert Kardashian, a.k.a. Kim K's dad, was a successful lawyer. In fact, he was one of O.J. Simpson's defense attorneys. He and the girls' mother were divorced, and Robert had remarried. He passed away in 2003 due to cancer, leaving his $30 million estate to his new wife.
Barron Hilton, the heir to the Hilton hotel chain, carried on the business his father built and expanded it. All of that work added up to a net worth of more than $4.5 billion. He left 97% of that amount to charity.
Philip Seymour Hoffman
Philip Seymour Hoffman was an actor in movies such as Boogie Nights, Capote, The Big Lebowski and Scent of a Woman. He decided early on that he would not leave his children with trust funds for them to grow up spoiled.
Famous musician and actor from The Partridge Family, David Cassidy had quite an eventful life. He became rich and popular in the ‘70s, went broke in the ‘80s and then worked to rebuild himself and his wealth. He had two children: Beau and Katie. Only Beau inherited his daddy's money, however.
Jerry Lewis was a beloved entertainer for a very long time. When he passed away a couple of years ago, his six children from his first marriage did not receive a dime of his $50 million estate. In fact, those children were excluded from his will in a very clear manner.