Celebrities Who Said They Won’t Leave Fortunes to Their Kids

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Generational wealth doesn’t always come earmarked for the next generation.

Sting recently revealed he doesn’t plan to financially provide for his six children for life. In an interview on CBS Sunday Morning, he explained that shielding kids from the need to work is, in his opinion, actually harmful.

Fortunately, his six children – from his marriages to Frances Tomelty and Trudie Styler – all share a strong work ethic, according to the former Police member. He doesn’t believe it was harsh to expect them to follow rules and work hard.

Sting, whose full name is Gordon Matthew Thomas Sumner, shared, “I see a real kindness and trust in my children, a belief that they’ll find their own path. They’re a resilient bunch.”

Joe Sumner, 49, Fuschia Sumner Wright, 44, Mickey Sumner, 42, Jake Sumner, 40, Eliot Sumner, 35, and Giacomo Sumner, 30, are all grown up and pursuing their own lives.

Sting isn’t alone – many wealthy and famous parents want their children to build their own independent futures, rather than relying on family connections.

In a 2014 interview with Howard Stern, Anderson Cooper explained that he doesn’t approve of inheriting wealth, calling it a path to complacency.

Even after becoming a father to Wyatt Morgan Cooper, 6, and Sebastian Luke Cooper, 4, Anderson Cooper maintained his stance on not leaving an inheritance for his children. He stated on the Air Mail podcast Morning Meeting in 2021 that he doesn’t plan to leave them a fortune.

Ashton Kutcher and Mila Kunis aren’t setting up trust funds for their kids, Wyatt and Dimitri, who are now 11 and 9. Kutcher explained on the Armchair Expert podcast in 2018 that he and Kunis are teaching their children to be self-sufficient. He said if they come up with a solid business idea, he’d be happy to invest, but they won’t be automatically inheriting money.

If you’re looking for more financial advice, here are some celebrities who emphasize taking personal responsibility for their money.

The Food Network star isn’t just handing over the keys to Flavortown.

Guy Fieri explained that he gave his sons, Hunter and Ryder, the same advice his father once gave him. He told Fox News in 2023 that his dad always said he’d likely die with no money and that his funeral would be expensive. Fieri relayed this to his boys, adding that they won’t inherit anything he’s built unless they actively earn it. Fieri and his wife, Lori, also raised his nephew, Jules, after his sister passed away in 2011.

He suggests a path of gaining experience – first through education, then by working outside the family business, and finally by returning to help with the family company.

Honestly, I’m really excited about it. I was almost tempted to pull some strings and have him return early,” Guy Fieri said to Delish in 2018, while Hunter was an intern with the Caesar’s restaurant group in Las Vegas. “But I know what’s best for his development.”

Shaquille O’Neal prioritizes education for his children – Taahirah, Amirah, Me’arah, Shareef, and Shaqir, whom he shares with his ex-wife, Shaunie Nelson – before indulging them with the benefits of his successful career as a basketball player, broadcaster, and businessman.

Four-time NBA champion Shaquille O’Neal famously said, ‘You have to earn the right to share in my success.’ He shared this sentiment on Good Morning America in 2019, explaining that education is key to building lasting wealth. O’Neal, who finished his bachelor’s degree from Louisiana State University in 2000 – eight years after being the No. 1 draft pick – emphasized that money alone isn’t enough. He wanted to avoid becoming another athlete who loses everything after retirement, so he prioritized his education and wants the same for his children.

Mick Jagger, the lead singer of The Rolling Stones and a father of eight, explained that he doesn’t want to simply leave all his wealth to his children, as he wouldn’t find that very fulfilling.

In 2023, Mick Jagger told The Wall Street Journal that his children didn’t require a fortune to live comfortably. He expressed his desire for the money earned from his music to be donated to charity and used to benefit others.

Gordon Ramsay, the host of MasterChef and father to Megan, Holly, Jack, Matilda, Oscar, and Jesse with his wife Tana Ramsay, hopes his children will eventually support themselves financially. However, he wants to make sure their first experiences with cooking aren’t stressful.

Gordon Ramsay explained to The Telegraph in 2023 that he doesn’t plan to give his children his fortune, and he doesn’t mean that as an insult. He wants to avoid spoiling them. He and his wife, Tana, have agreed to help them with a down payment – 25 percent – on a flat, but not cover the full cost.

The chef said he feels incredibly fortunate to have worked in the U.S. for the past 15 years. He’s earned a good living and is grateful for everything he’s achieved.

John, known as the “Rocket Man,” wants to ensure his sons, Zachary and Elijah—whom he shares with his husband, David Furnish—are financially secure, but he told The Mirror in 2016 that he doesn’t plan to leave them an extremely large fortune.

He admitted the boys weren’t typical children, but emphasized they still needed to understand basic values. “They need to learn to respect money and the importance of work,” he explained.

John explained that he looks up to Warren Buffett, particularly Buffett’s approach to providing for his children. Buffett ensures his kids have enough money for essentials like a home and car, covering their basic needs without giving them excessive wealth that could lead to extravagance.

Bill Gates, worth over $100 billion, explained on the March 2025 Figuring Out With Raj Shamani podcast that while his children had a good upbringing and education, he intentionally limited their inheritance to less than 1% of his total wealth, believing that a large inheritance wouldn’t actually benefit them.

Bill Gates emphasizes the importance of making sure children always feel loved and supported. He shares three children – Jennifer, Phoebe, and Rory – with his ex-wife, Melinda French Gates, and believes in explaining his values to them from a young age. He wants them to understand that while he’ll treat them equally and provide them with many opportunities, the greatest purpose of their privilege is to help those most in need.

The singer has informed his six kids that he won’t always be watching them financially.

In a 2014 interview with the Mail on Sunday‘s Event magazine, Sting – whose real name is Gordon Sumner – explained that he and his wife don’t have a lot of savings. He said they have many financial obligations and generally spend any money they earn, leaving little remaining.

Honestly, one thing my father always made clear is that he didn’t want to just hand his children money and spoil them. He believed in us working for what we earned, and he instilled that value in all of us. I’m so grateful for that, and it means a lot that we kids rarely ask him for help – we’ve all learned to be independent, and he really appreciates that too.

The actor explained that he and Mila Kunis don’t plan to simply give their children, Wyatt and Dimitri, money without requiring them to earn it or fulfill certain conditions.

Ashton Kutcher shared on Dax Shepard’s podcast in 2018 that his children are fortunate and unaware of their privilege. He explained he doesn’t plan to create a trust fund for them, and instead intends to donate their inheritance to charity and other causes.

He added that he would invest in his children’s businesses if they have solid plans.

Some people were upset when Nigella Lawson said in 2008 that she didn’t want to provide financial security for her children, Cosima and Bruno, whose father, John Diamond, had passed away in 2001. She believed that not having to work could be detrimental to them.

Okay, so Nigella was finally talking about why she does what she does, and it’s all about making sure her kids are okay, but also… tough love, I guess? She basically said she never wants them to end up broke and hungry, which, good! But she’s always believed they need to earn their own living after school – just like she did! It’s fascinating, honestly. She even pointed out she’s never talked about her will with anyone, which is… intense. I’ve been following her for years and this little peek into her thinking? Gold. It just proves she’s so grounded, even with everything she’s achieved. I need to re-watch all her shows now with this in mind!

The son of heiress Gloria Vanderbilt witnessed firsthand that money didn’t buy happiness.

Cooper, who shares sons Wyatt and Sebastian with his ex, Benjamin Maisani, explained in a 2022 interview on Air Mail’s Morning Meeting podcast that he doesn’t plan to leave a large inheritance. He said he wasn’t particularly interested in wealth and didn’t want to create a trust fund for his son, stating, ‘I don’t know what I’ll have. I’m not that interested in money, but I don’t intend to have some sort of pot of gold for my son.’

He intended to follow his parents’ advice: they’d assured him college would be covered, but then he’d need to become self-sufficient.

The mother of eight wants to make sure her kids aren’t leaving it all up to her.

Marie Osmond explained to Us Weekly in 2023 that she doesn’t believe in simply giving her children money. She feels it’s important for them to strive for their own accomplishments, stating, “I don’t know anybody who becomes anything if they’re just handed money.”

She went on to say that the most valuable thing you can give a child is the drive to discover themselves and to develop a strong work ethic.

The English actor doesn’t want his heirs getting the knives out over his Bond money.

In a 2021 interview with Candis, the father of Ella (with ex-wife Fiona Loudon), Grace (with wife Rachel Weisz), and stepson Henry, explained he doesn’t plan to leave a large inheritance to his children. He believes inheritance is unpleasant and prefers to spend his wealth during his lifetime, either by giving it away or using it himself.

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2026-05-09 10:18