Many people believe that the children of millionaires are financially secure for life and can avoid serious responsibilities. However, this is not always the case. Some parents intentionally deprive their children of inheritance to teach them how to succeed on their own in life.

ANDREW CARNEGIE

Andrew Carnegie can be considered the pioneer of the trend of depriving children of inheritance. In 1889, he wrote the book *The Gospel of Wealth*, in which the main idea was that if a person dies rich, they die disgraced.

At one point, Carnegie’s wealth was comparable to that of the Rockefellers, but he donated all his savings to charity, leaving his wife and daughter only real estate and a small sum of money for a modest life.

BILL GATES

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

He gave his children a proper education, taught them independence, and ensured they had good future careers. He believes that everyone should work hard to succeed in life. However, to be precise, each of his children inherited only 0.02% of his fortune, which is still a significant amount.

BARRON HILTON

William Hilton, the founder of Hilton Hotels, passed away on September 19, 2019. He had eight children, 15 grandchildren, and four great-grandchildren, but none of them inherited his enormous fortune. All his money was donated to humanitarian causes through the Conrad N. Hilton Foundation.

Two theories about this decision were voiced in the media: either Hilton was upset with the behavior of his relatives, or he didn’t want them to fight over the inheritance. In fact, Barron Hilton’s father had made the same decision.

WARREN BUFFETT

Warren Buffett is an English entrepreneur who made his fortune through investments. In September 2018, his wealth was estimated at $8 billion, and in 2019, it grew to $85 billion. However, his children will not inherit this enormous fortune, though they know it and are not upset.

Buffett’s children grew up in modest conditions and didn’t realize their father was a wealthy man until a certain point. They received a good education and established successful careers. Now, they are financially independent.

Warren decided to donate all his money to charity, making him the largest philanthropist in human history. He has given $37 billion of his fortune to five organizations.

Buffett believes that the U.S. tax system is flawed and that the government should take much more from entrepreneurs like him. He left very little money for his children to ensure they live modestly.

STING

Singer Sting, with a fortune of 180 million pounds, has decided that none of his six children will inherit his wealth. He believes that each child should overcome obstacles to achieve wealth and success, or they will never amount to anything.

Sting himself grew up in a poor family but achieved prosperity and success, and he wants the same for his children, who already have a good start compared to their father, who had no fame, recognition, or support when he was young.

NAJDLA LAWSON

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

Najdla has openly stated that she will not leave her fortune to her children. Once they are on their feet, her heirs will not receive any financial support from her. She believes that everyone should earn their bread through their own labor.

TED TURNER

Ted Turner, the businessman who founded the 24-hour news channel CNN, had a fortune of $2.3 billion in 2021. However, he now lives on the edge of poverty, as he donated all his wealth to various funds. His heirs share his views and also work in the family foundation.

MILA KUNIS AND ASHTON KUTCHER

Actors Mila Kunis and Ashton Kutcher have also joined the ranks of the wealthiest people on the planet who are donating their fortunes to charity. They believe that large amounts of money deprive children of creativity, demotivate them, and weaken their personalities. They want their children to learn how to earn money and support themselves.

However, Ashton has stated that if his child has a worthy business plan, he will invest in the project. But he does not intend to simply give money to satisfy whims.

KIRK DOUGLAS

Famous actor Kirk Douglas passed away in February 2020. Like the people mentioned above, he gave all his wealth to charity, including his namesake theater, a children’s hospital, a university, and a children’s center, thus supporting those in need.

As for his adult children, the 104-year-old Kirk believed they were old enough to take care of themselves and their families. All of his sons are well-known actors, and they have enough wealth to meet their needs.