Uh oh, here we go again. So many rich celebrities so many poor future celebrity kids. Being
a celeb comes with fame and a lot of money. What it doesn’t come with is a guarantee
that there will be any money left over. Or, a guarantee that the celeb making the money
is going to want to share it. Even with their own offspring. So following up on our first
video about celebrities, money and their kids, here is a list of 10 more rich celebrities
who won’t be leaving their fortune to their children.
Andrew Lloyd Webber
Andrew Lloyd Webber is basically a musical genius. He is responsible for bringing so
many musicals to the public it’s mind-boggling. Because of this, he has made a lot of money.
A LOT of money. Webber is worth 750 million pounds yes, pounds not dollars. The composer
hadn’t always wanted to leave his children penniless. He said his mind began to change
when he turned 60. Altogether he has 5 kids and realized that he didn’t want his kids
to grow up like so many other celebrity kids. “I am not in favor of children suddenly
finding a lot of money coming their way because then they have no incentive to work,” he
said. “So, I will give them a start in life but they ain’t going to end up owning the
Really Useful Group”. He isn’t wrong a lot of kids who grow up with money are slightly
less in touch with reality. Well, at least that is if they are given everything they
want. So, what do Webber's kids think about this? He told The Daily Mail.“They’re
not bothered. They don’t think that way. It is about having a work ethic - I don’t
believe in inherited money at all”. He has started putting his money back into the community
instead. Meaning, he wants to help struggling singers and musicians too. And his company
Really Useful Group has been doing just that since 1977.
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Philip Seymour Hoffman
Actor Philip Seymour Hoffman passed away in 2014. However, before his untimely death,
he was very candid about almost every aspect of his life. One thing that he was very candid
about was the fact that he planned to leave no money to his children. He once told them,
"There won’t be much money left because we are spending it!”. That’s just the
kind of father he was. Funny but determined to make sure his kids knew the value of hard
work. Although he said this in a joking way in 2014 when he passed, his will proved he
was not kidding. The actor left everything to his partner and mother of his kids Mimi
O'Donnell. Almost as if speaking from beyond the grave, His will stated simply, she would
"take care of the children." Like everyone else in this video, Hoffman wanted to ensure
that his children didn’t grow up to be brats. Or as he called it, “trust fund kids”.
He went on to tell The Daily Mail, "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.”.
Kevin O’Leary
Shark Tank star Kevin O’Leary has made his money by investing in businesses. Also, having
his own business even well before he was on Shark Tank. During an interview with Chatelaine
magazine, the investor got real about what is takes to be a success. And why he will
never leave his hard-earned dollars to his children. He boldly said, “I am not planning
on giving my kids any of my wealth. They know that when their education is over, I’m pushing
them out of the nest”. Wow very truthful, very blunt. The businessman went on to say.
“I always tell wealthy parents that if they don’t kick their kids out of the house and
put them under the stresses of the real world they’re just going to fail to launch – they
will become unsuccessful adults”. He did, however, say that he will be looking out for
his grandchildren by setting up generation-skipping trust. Who even knew that was a thing? “Fear
motivated me, and it will motivate them,” O’Leary said. “There’s nothing wrong
with that: it’s how everyone does it and it’s extremely healthy”. Well, he has
been right about other super important things so how can he be wrong about this one? Right?
The article really goes deep into some great ideas about how to introduce your kids to
money, expressing how important money is. Oh, and of course, more details on that generation
skipping trust.
Richard “Old Man” Harrison
The insanely popular show Pawn Stars recently lost its patriarch Richard Harrison, lovingly
known as “Old Man”. However, we aren’t quite sure how loved he is after the stunt
her pulled before he passed. The entrepreneur who died after a lengthy battle with Parkinson’s
disease made some changes to his will just before he died. The biggest change was that
he left his son Christopher out. His last words to his son, through his executor, read.
“I would like to express my love and affection for Christopher Keith Harrison; however for
purposes of this will, I have intentionally and with full knowledge failed to provide
for him and his issue”. There hasn’t been a follow-up statement as to why he decided
to single out Christopher and we will probably never find out the truth. We know the family
isn’t crazy rich. There is certainly an assumption that they made a decent amount
of money from the show though. It ran for several successful seasons. So, we definitely
know there was certainly something to divi up though. Initially, all his children and
his wife were included in his will. But, sometime in 2017, he went out of his way to update
it and cut out Christopher not only money-wise but also from benefiting from his estate.
We think the story behind why he got cut out is probably one piece of juicy gossip. But
like we said, we’re just never gonna know.
James Brown
Before he died James Brown tried to do something good for the community that was there for
him from the beginning. The state of South Carolina that he had a special connection
with. Brown planned on leaving his $100 million trust to needy children of South Carolina.
He passed away in 2006 and by 2009 the money was still not allocated so why? Brown’s
children felt like they deserved a piece of this fortune. He stated specifically in his
will and to his kids that he wasn’t going to leave any money to them. We guess they
assumed he was joking because they were genuinely shocked when they actually received nothing.
A bitter battle ensued literally a month after his death. But we have to wonder why Brown
wouldn’t want to leave any money for his 7 children and his fourth wife. According
to Rolling Stone magazine, Brown was not close to any of his 7 kids. Apparently, they had
to schedule appointments just to see him. Who he was close to were the children at the
hospitals he would visit regularly. He played a benefit to raise money for sick kids in
the 80s. When he actually met the children and saw how they were struggling he was touched.
He told his producer Jacque Hollander, “I’m going to give them everything I have and touch
their lives.'” You can’t be made at that.
Joan Crawford
Joan Crawford has long since passed away but she will never truly die. The actress will
always be famous for her body of work and infamous for her very public feuds. Two of
those feuds were turned into productions themselves. The TV show titled Feud about her battle with
Bette Davis. And her original Feud titled Mommy Dearest with her daughter Christina.
Anyways, in 1978, when Christina had released the insanely shocking memoir she was already
on horrible terms with her mom who had passed just a few months earlier. People just assumed
that she and her siblings would inherit their mother's fortune and gain their own fame from
her insanely bright shining star. Wrong. In fact, Crawford even got in one last dig from
beyond the grave by disinheriting the kids she no longer liked. So this means that not
only Christina but her brother Christopher got absolutely nothing. Everything was left
to her twin daughters Cathy and Cindy and to charity. Everyone in Hollywood was buzzing
about the book but couldn’t figure out why Crawford would do her oldest daughter and
son so dirty. Word on the street was that she had gotten wind that the book was being
written and decided to give her daughter one last screw you. She even managed to have written
in the will that her two oldest kids would get nothing because; “for reasons they knew,”.
Ah cryptic AF. In the end, Christina and Chris contested the will and received an inheritance.
Boy, Joan must have been spinning in her grave.
Ted Turner
Over the years Ted Turner has given away a lot of money. He is one of the original people
who would make bank from a project and immediately turn around and give it away to a charity.
Eventually, he just decided that he would use this method after death as well. And so
he put in his will that his children will receive none of his cash. Turner accumulated
his wealth by founding news companies like CNN, and broadcasters TBS. So, you know he
has a lot of cash. He has 5 kids from 3 different marriages and he said that they should not
expect anything. However, it’s a mistake for us to assume that he isn’t leaving money
to his kids because he wants to do some good for the less fortunate. Apparently, he was
quoted as saying he was “almost to the edge of poverty”. What in the world? How did
that even happen? Of course, it could be because of all that money he has already given away.
Or, he could just be being dramatic. He went on to say that he basically just wants to
have enough money left over so he can cover funeral expenses. Sounds like a solid plan
if we are being honest.
Barron Hilton
In 2007, at the height of Paris Hilton’s… career (you know if you want to call it that),
her grandfather Barron Hilton made the decision to pledge his $2.3 billion fortune to charity.
The money from the sales of Hilton Hotel Corp and Harrah’s Entertainment Corp will go
into a trust. When the time comes, it will benefit the Conrad N. Hilton Foundation. Apparently,
by that time the money would have matured to $4.5 billion. Can you imagine being an
heir and missing out on that? According to Jerry Oppenheimer, who considers himself an
expert on all things Hilton, Barron is simply disgusted. He profiled the Hilton family in
a book titled House of Hilton. Oppenheimer stated, that Barron made it clear he was embarrassed
by his granddaughter Paris’ behavior. Believing that it had “sullied” the Hilton name.
The foundation supports clean water for countries like Africa. In addition, they also support
education for blind kids and housing for the mentally ill. Hilton stated that he wants
“to relieve the suffering, the distressed and the destitute”. Paris and her siblings
have never commented on the accusations of him being disappointed. Truthfully, they probably
don’t care. They’ve all began making their own money one way or another and they won’t
be totally left without anything. In addition, they’ve all received a trust of some sort.
Tess Daly
Tess Daly is the host of Strictly Come Dancing. This means her face has been splashed all
over the TV for several years now. And she has managed to parlay this gig into making
her a household name. Daly is now worth a good chunk of change she isn’t Bloomberg
rich but she is pretty well off. She and her husband Vernon Kay have 2 kids together. They
have decided together that they just don’t believe it would be in the best interest of
their girls if they just left them all of their money. She told Mirror, leaving a large
inheritance or handing over money to daughters Phoebe, 10 and Amber, six, would turn them
into "spoilt brats". She even went as far as to explain her financial situation saying
"I'm not in a financial position to provide for my children's future, but even if I could,
I wouldn't want to”. She went on to say, “You can't make life too easy, because you
remove their will to succeed”. Daly makes over 250,000 pounds a year for her hosting
gig. Her husband makes over 2 million pounds a year as a broadcaster. So, really, they
do have more than most people but she’s right it may not be enough to provide for
generation after generation. Daly told You magazine once: "I'd hate to have a spoilt
brat - I'd think I hadn't done my job properly. I want them to be appreciative”.
50 Cent
Rapper 50 Cent has had a lousy relationship with his oldest son Marquise Jackson. Every
time fans think it’s over it starts right back up again. For his part, the rapper has
not explicitly stated why his relationship with his son has gone downhill. However, his
son has been more than candid about why he hates his dad. There have been accusations
from bullying to neglect. Marquise is now 20-years old and on his own path to be a hip-hop
artist. He released a song titled “Different” where he takes a few shots at 50. Now, we
have to assume that this beef is going to continue to go on. According to Marquise,
he started seeing less and less of his father when he was about 10 or 11. When he did see
him it was toxic and always ended negatively. On his end, 50 has been quite harsh with his
son by taking his own shots on social media. Even insulting Marquise’s mother. We can
only assume that Marquise is not in 50s will. Or, if he is, it may be only to take one last
shot from the grave a la Joan Crawford style. 50 has already commented on how he is counting
down the days until he doesn’t have to pay child support. That should be a pretty clear
indication of where this is going.
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