Some of the famous wealthy people have already decided they are not leaving their fortunes to their offspring.
Many are donating their money to philanthropic causes, while others are just determined to make their kids learn the value of work.
Here are 5 millionaires and billionaires who don’t plan to leave their wealth to their kids when they die.
1. Bill Gates
The founder of Microsoft and the former richest man in the world has made philanthropy his mission for many years now.
He has also been crystal clear about his desire not to spoil his three children.
In an interview with This Morning, the billionaire said
It’s not a favour to kids to have them have huge sums of wealth. it distorts anything they might do, creating their own path.
2. Jackie Chan
Hong Kong-born action star, Jackie Chan has amassed an impressive fortune in his decades-long career.
The film legend said that he plans to leave at least half of his wealth to charity when he dies and none of it is going to his only son, Jaycee.
During one award ceremony, he said ‘If he is capable, he can make his own money,. if he is not, then he will just b wasting my money.
3. Ashton Kutcher
Popular Actor and venture capitalist, Ashton Kutcher says he and his wife, Mila Kunis refused to pamper their children not to even talk of getting them presents at Christmas.
On Dax Shepard’s podcast in 2018, he said ‘My kids are living a really privileged life and they don’t even know it and they will never know it because this is the only one that they’ll know.
I’m not setting up a trust for them. We’ll end up giving our money away to charity and to various things.
Kutcher says he’s willing to hear his kids out if they have a business venture for him to support but he insists they won’t get preferential treatment from their dad.
4. Mackenzie Scott
25 years after divorcing Amazon founder Jeff Bezos in 2019, Mackenzie Scott became one of the richest women on the planet.
Scott has signed The Giving Pledge, a movement that vows to donate at least half of their fortune to charity instead of her four children.
5. Ted Turner
Former media mogul, Ted Turner made his billions in founding giants like CNN, TBS and TNT but soon became famous for his philanthropy.
He has donated billions to charitable organisations all over the world.
Turner’s five kids won’t get much when he passes.
He’s signed The Giving Pledge writing in his letter that upon his death, “Virtually all my wealth will have gone to charity”.
Would you leave your wealth to your kids when you die?