Many believe that the children of millionaires are financially secure for life and may not engage in anything serious in their lives. In reality, this is not entirely true. Some parents intentionally deprive their children of inheritance so that they can learn to fend for themselves in life.

ANDREW CARNEGIE

The founder of the trend of depriving children of inheritance can confidently be called Andrew Carnegie. As early as 1889, he wrote the book ‘The Gospel of Wealth,’ the main idea of which was that if a person dies rich, he dies disgraced.

At one time, Carnegie had a fortune comparable to the Rockefellers’, but he transferred all his savings to charitable foundations, leaving his wife and daughter only real estate and a small amount of money, enough to live modestly for their entire lives.

BILL GATES

One of the co-founders of Microsoft, the richest person in the world according to Forbes magazine from 2009 to 2016, decided to leave his entire fortune to the Bill and Melinda Gates Foundation, which he created with his wife.

The businessman provided his children with a decent education, taught them independence, and ensured a good profession for the future. He believes that everyone should make their own way in life. However, to be precise, he left each heir 0.02 percent of his wealth, which is still a significant amount.

BARRON HILTON

William Hilton, the founder of Hilton Hotels, passed away on September 19, 2019. He left behind 8 children, 15 grandchildren, and four great-grandchildren, but none of them inherited a vast fortune from their relative. All the money was directed to humanitarian purposes through the Conrad N. Hilton Foundation.

Two versions of what happened have been voiced in the media: either Hilton was outraged by the behavior of his relatives, or he did not want his loved ones to quarrel over inheritance. However, Barron’s father did the same thing in his time.

WARREN BUFFETT

Warren Buffett is an American entrepreneur who amassed his fortune through investments. In September 2018, his net worth was estimated at $8 billion, which grew to $85 billion by 2019. However, his children will not inherit a vast fortune, but they are well aware of this and do not resent their father.

Buffett’s children were raised in modest conditions and for a long time were unaware of their father’s wealth. They received a good education and were able to find decent positions. They are all financially independent now.

Warren decided to donate all of his money to charity and is already considered one of the largest philanthropists in human history: he has donated $37 billion of his fortune to five organizations.

Buffett believes that the tax system in the US is flawed and that entrepreneurs like him should pay much more in taxes.

The businessman decided to leave his children only a small sum of money, enough for a modest life.

STING

The singer Sting has a net worth of £180 million. However, as it seems, these funds will not be inherited by his children. Each of the 6 heirs, according to their father’s opinion, must overcome obstacles on the path to wealth and success, otherwise nothing good will come of them.

However, Sting himself grew up in a poor family but managed to achieve prosperity and success. He wishes the same fate for his children, especially since they already have a fairly good start, unlike their father, who had neither a famous name, nor fame, nor support.

NIGELLA LAWSON

Television presenter Nigella Lawson is among those who believe that hard work ennobles a person. She herself has worked all her life, and even now, being married to the millionaire art dealer Charles Saatchi, she continues to work.

Nigella admits that she will not leave her fortune to her children. After they stand on their own feet, the heirs will not receive any financial support from their mother. The presenter is convinced that everyone should earn their own bread through their own labor.

TED TURNER

The businessman is known for founding the 24-hour news channel CNN. According to Forbes magazine’s estimate, his net worth in 2021 amounted to $2.3 billion. However, in reality, the media mogul now lives near the poverty line, as he has donated all his wealth to various foundations. Interestingly, his heirs share their father’s views and work in the family foundation.

MILA KUNIS AND ASHTON KUTCHER

The actors also join the ranks of the wealthiest people on the planet who are passing on their wealth to charitable foundations. They intend to do so because they believe that large sums of money deprive children of creativity, demotivate them, and make them weak individuals. They want their heirs to be able to earn and provide for themselves.

However, Ashton asserts that if his child has a worthwhile business plan, he will invest in that project. But he is not inclined to simply give money away to fulfill whims.

KIRK DOUGLAS

The famous actor passed away in February 2020. Like the individuals mentioned earlier, he also donated his entire fortune to charity. For example, to his namesake theater, a children’s hospital, a university, and a children’s center, thereby providing support to the less fortunate.

Moreover, at 104 years old, Kirk didn’t even consider his adult children, deciding that they were already mature enough to provide for themselves and their families independently. However, all of his sons are quite well-known actors themselves. They have sufficient wealth to meet their needs.