Even though growing up in the public eye, constantly being chased by the paparazzi, sounds like less-than-ideal circumstances for a child, there are also a lot of perks to growing up with famous parents. As far as we can tell, celebrity kids get to have a lot of really cool experiences that the rest of us missed out on in our own "normal" childhoods. And then, there's the money.
Let's face it: Most of our favorite Hollywood stars have more cash than they know what to do with, and this affords them the privilege to raise their children in nice homes, giving them fancy vacations and so many other awesome opportunities as they grow. And then, there's also the plus of their parents being able to provide their kids with financial security long after they're gone — or is there?
Despite their high net worths, several celebrities don't plan to leave their children any kind of inheritance at all. We just hope these kids are prepared for reality to hit when the time comes and they enter adulthood. They may not end up living the same cushy lives they were used to as children!
Mila Kunis & Ashton Kutcher
Despite the fact that Ashton Kutcher and Mila Kunis have both had successful acting careers, their kids, Wyatt and Dimitri, won't benefit from their parents' wealth after they're gone.
"I'm not setting up a trust for them," Ashton said during a 2018 episode of Dax Shepard's Armchair Expert podcast. "We'll end up giving our money away to charity and to various things. Hopefully they'll be motivated to have what they had, or some version of what they had."
Jackie Chan
Famed martial artist and actor Jackie Chan has two children, Jaycee and Etta, and Jackie has made it clear through the years that he wants them to succeed based on their own merits. In his 2015 memoir, Never Grow Up, he wrote of his son: "If he is capable, he can make his own money. If he is not, then he will just be wasting mine."
Marie Osmond
Marie Osmond, who is currently worth an estimated $20 million, has vowed that her eight children won't see a dime of her fortune after she's gone.
"Honestly, why would you enable your child to not try to be something?" she said to Us Weekly. "I don't know anybody who becomes anything if they're just handed money. That's one of my rules with my kids. If you start it, you finish it, you don't ever have to do it again, but you gotta finish. And I just think all [an inheritance] does is breed laziness and entitlement. I worked hard and I'm gonna spend it all and have fun with my husband."
Gordon Ramsay
Celebrity chef Gordon Ramsay has five children with his wife, Tana, and it sounds like he's hoping they'll find a way to build their empires from the ground up the same way he did.
He told The Telegraph in 2017: "It's definitely not going to them — and that's not in a mean way — it's to not spoil them. The only thing I've agreed with Tana is that they get a 25% deposit on a flat, but not the whole flat."
George Lucas
It's no surprise that filmmaker George Lucas is worth an estimated $5.1 billion according to Forbes — after all, he is the man behind Star Wars. But he's pledged to donate the majority of his wealth to charity, and it doesn't sound like he'll be leaving much behind for his children to inherit.
Elton John
Elton John is easily one of the biggest music legends on the planet, but his two children with David Furnish may not see the financial fruits of his labor. He told the Mirror that he's working on "finding the balance" when drafting out his will and figuring out exactly how much to leave behind to them.
"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. The boys live the most incredible lives, they're not normal kids, and I'm not pretending they are. But you have to have some semblance of normality, some respect for money, some respect for work."
Daniel Craig
As it turns out, Daniel Craig, the man who brought life to James Bond for so many years, told Candis magazine that he believes in the saying, "If you die a rich person, you've failed."
He added, "I don't want to leave great sums to the next generation. I think inheritance is quite distasteful. My philosophy is get rid of it or give it away before you go."
Shaquille O'Neal
NBA legend Shaquille O'Neal has six children who may be surprised when their cut of their dad's $400 million fortune isn't quite what they were expecting. In fact, if they want to inherit any of it, they'll have to prove they can work for it.
"If you want my cheese, you have to present me with two degrees," he told 7News Australia.
Simon Cowell
As a creator and judge of several popular music reality TV franchises, Simon Cowell is sitting pretty these days. But as he told the Mirror, his son, Eric, won't be seeing any of his cash.
"I'm going to leave my money to somebody," he said. "A charity, probably — kids and dogs. I don't believe in passing on from one generation to another. 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."
MacKenzie Scott
As the ex-wife of Amazon founder Jeff Bezos, it goes without saying that MacKenzie Scott has a lot of money — an estimated $22 billion, actually. But she's donated billions of dollars since her 2019 divorce, and it doesn't sound like she plans to slow down on the philanthropy anytime soon. She has signed the Giving Pledge, which means she's committed to donating the majority of her wealth, leaving far less for her children to inherit.
Anderson Cooper
Broadcaster and journalist Anderson Cooper is a dad of two, and he plans to follow in his mom Gloria Vanderbilt's footsteps. She didn't leave him a big inheritance, and he's doing the same. "I don't believe in inheriting money," he once told radio host Howard Stern. "I think it's a curse."
Bill Gates
Although that he's one of the most famous billionaires in the world, tech titan Bill Gates has no desire to set up massive inheritances for his three children.
"Our kids will receive a great education and some money so they're never poorly off, but they'll go off and have their own career," Bill said during an appearance on This Morning. "It's not a favor to kids to have them have huge sums of wealth because it distorts anything they might do, creating their own path."
Sting
Musician Sting told the Daily Mail that he's planning on spending his money while he's alive, and he's not interested in his children having trust funds to begin with.
"I told them there won't be much money left because we are spending it," he said. "We have a lot of commitments. What comes in we spend, and there isn't much left. 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."
Gene Simmons
During an episode of Family Jewels, Gene Simmons made it clear that his kids will "never be rich off my money."
"Every year they should be forced to get up out of bed and go out and work and make their own money," he explained. "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.'"
Laurene Powell Jobs
Laurene Powell Jobs, the widow of Steve Jobs, has an estimated net worth of $19 billion thanks to the Apple empire. But she told The New York Times that she wants the train of wealth to end with her.
"If I live long enough, it ends with me," she said. "In the broadest sense, we want to use our knowledge and our network and our relationships to try to effect the greatest amount of good."
