Some of the biggest stars in Hollywood are worth hundreds of millions of dollars, which is why fans actually believe that their children are among the luckiest in the whole world. However, some stars are also admirable parents that plan to encourage their children to work hard and strive to be the best they can be in life, instead of simply inheriting the millions.
Here are five parents who intend to give their children only a meager sum or nothing at all.
The famous singer has an estimated net worth of $300 million. Sting shared that he came from a humble family. His father was a milkman while his mother was a hairstylist. Although he owns several mansions around the world, he told his children that they will not be inheriting anything as their expenses are also huge. He said he will not be leaving his children trust fund, considering how much he is already paying to maintain properties and other commitments.
2. Gene Simmons
The bassist of rock band KISS has an estimated net worth of $300 million. He said that he will provide for his children when it comes to necessities. "But 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," said Gene (via Yahoo!).
3. Gina Rinehart
Gina is the richest woman in Australia with an estimated net worth of just under $10 billion. Although she inherited her fortune from her father's iron business, she is involved in a court dispute with her children, where she stated that her kids are not qualified to inherit from her.
4. Bill Gates
The richest man in the world has an estimated fortune of $76 billion, but according to CNN, his children will only be getting $10 million each.
"They won't have anything like that. They need to have a sense that their own work 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," said Gates. He and his wife, Melinda, said that cutting their children's inheritance will keep them balanced.
5. Michael Bloomberg
The millionaire philanthropist donates several millions each year to charities and non-profit organizations. Instead of giving his two daughters a few millions upon his death, he intends to pass on his debts and obligations to them. He wrote that almost all of his fortune will be given away in the years ahead or forward to his foundation.
"The best financial planning ends with bouncing the check to the undertaker," said Bloomberg to the Wall Street Journal.