\u201cI tell them all the time: \u2018We ain\u2019t rich. I\u2019m rich.\u2019\u201d<\/p>\n
The NBA icon insists his children must obtain a bachelor\u2019s or master\u2019s degree before he even considers investing in their business ideas.<\/p>\n
\u201cIf you want me to invest in one of your companies, you\u2019re going to have to present it \u2026 bring it to me,\u201d he said. \u201cI\u2019ll let you know, I\u2019m not giving you nothing.\u201d<\/p>\n
O\u2019Neal\u2019s real estate footprint spans multiple US states, including homes in Texas, Georgia, and Nevada. <\/p>\n
MORE: \u2018Betrayed\u2019: UB40 fallout after $120m collapse<\/a><\/p>\n \u2018Slavery\u2019: Sister Act star\u2019s sad debt, life at 51<\/a><\/p>\n Edelsten died alone after $63m loss, exes split <\/a><\/p>\n Basketball legend Shaquille O\u2019Neal has made it crystal clear to his six children that his estimated $500m fortune is off limits. Picture: Francois Nel\/Getty Images<\/p>\n NIGELLA LAWSON<\/p>\n Celebrity chef Nigella Lawson is fiercely opposed to passing down unearned wealth, admitting she is determined to leave her children, Cosima and Bruno Diamond financially self-reliant.<\/p>\n \u201cI am determined that my children should have no financial security,\u201d Lawson told the Guardian<\/a> in 2008.<\/p>\n The TV star thinks that leaving her children money when she\u2019s gone will do more harm than good. <\/p>\n Lawson\u2019s property holdings are kept strictly private. Her primary home is a \u00a35m ($A9.8m) converted stable mews house in London\u2019s exclusive Chelsea.<\/p>\n She acquired the private mews residence following her high-profile 2013 split from art tycoon Charles Saatchi, with whom she previously shared a \u00a312m ($A23.5m) Chelsea mansion.<\/p>\n Celebrity chef Nigella Lawson admitted she is determined to leave her children financially self-reliant. Picture: James Gourley\/Getty Images<\/p>\n JACKIE CHAN<\/p>\n Martial arts icon Jackie Chan announced he will not be leaving a single cent of his reported $US400m ($A575m) fortune to his son Jaycee.<\/p>\n Instead, the Rush Hour star revealed the bulk of his wealth will be directed to charitable causes upon his death.<\/p>\n \u201cIf he is capable, he can make his own money,\u201d Chan said. \u201cIf he is not, then he will just be wasting my money.\u201d<\/p>\n Chan\u2019s international property portfolio spans Hong Kong, Shanghai, and Beverly Hills. <\/p>\n In 2020, the action star hit the headlines when two of his luxury Beijing apartments were forced into a court-ordered auction following an ownership dispute with a developer. <\/p>\n The properties, valued at $US14.6m ($A22m), were listed with opening bids starting at $US10.5m ($A15.8m).<\/p>\n Martial arts icon Jackie Chan announced he will not be leaving a single cent of his fortune to his son Jaycee. Picture: Graham Denholm\/Getty Images<\/p>\n GORDON RAMSAY<\/p>\n Famous hothead Gordon Ramsay and his wife Tana might share a fortune estimated at over $A300m, but their children Matilda, Jack, Holly, Megan, Oscar and Jesse won\u2019t be living off it.<\/p>\n \u201cIt\u2019s definitely not going to them, and that\u2019s not in a mean way; it\u2019s to not spoil them,\u201d the Kitchen Nightmares host said.<\/p>\n \u201cThe only thing I\u2019ve agreed with Tana is they get a 25 per cent deposit on a flat, but not the whole flat.\u201d<\/p>\n Ramsay even famously enforces the rule on holiday, flying first class with his wife while the kids sit in economy.<\/p>\n Ramsay holds a global real estate portfolio worth well over \u00a325m ($A49m). <\/p>\n His primary base is a historic Victorian townhouse in London\u2019s Wandsworth, valued at over \u00a37m ($A13.7m). <\/p>\n In Cornwall, Ramsay sparked a fierce local planning battle to demolish a 1920s home in Rock, replacing it with a \u00a314m ($A27.4m) glass-and-timber mega-mansion.<\/p>\n Gordon Ramsay\u2019s children won\u2019t be living off his fortune. Picture: Jeff Spicer\/Getty Images for The NTA\u2019s<\/p>\n STING<\/p>\n Rock legend Sting insists his six children \u2014 Joe, Eliot, Giacomo, Jake, Mickey, and Fuchsia \u2014 will not be relying on trust funds.<\/p>\n \u201cI told them there won\u2019t be much money left because we are spending it!\u201d the former Police frontman said. \u201cWhat comes in we spend, and there isn\u2019t much left.\u201d<\/p>\n Sting, who has an estimated fortune of $US550m ($A830m), added that he refuses to saddle his children with unearned cash.<\/p>\n \u201cI certainly don\u2019t want to leave them trust funds that are albatrosses round their necks,\u201d he said. <\/p>\n \u201cThey have to work. All my kids know that and they rarely ask me for anything.\u201d<\/p>\n Sting\u2019s real estate collection is legendary. It includes Il Palagio, a 242ha 16th-century Tuscan estate purchased for $23m that functions as a working vineyard and luxury retreat. <\/p>\n He also owns the historic 323ha Lake House manor in Wiltshire, England, where he wrote Fields Of Gold, and a beachfront Malibu compound that commands an eye-watering $440,000 a month on the rental market.<\/p>\n Rock legend Sting insists his six children will not be relying on trust funds. Picture: Christophe Gateau\/picture alliance via Getty Images<\/p>\n BILL GATES<\/p>\n Tech pioneer Bill Gates and former wife Melinda French Gates made a name for themselves through massive philanthropic pledges, but that charity does not extend to their children Jennifer, Rory, and Phoebe.<\/p>\n While the Microsoft founder paid for their education, he insists they must forge their own careers.<\/p>\n \u201cIt\u2019s not a favour to kids to have them have huge sums of wealth,\u201d Gates explained. \u201cIt distorts anything they might do, creating their own path.\u201d<\/p>\n Gates has spent more than $US150m ($A225m) on private residences over the past three decades. <\/p>\n His primary estate, Xanadu 2.0 in Medina, Washington, is now believed to be worth an eye-watering $US130 million ($A207 million). <\/p>\n The businessman purchased the expansive property in 1988 for just $US2 million and then poured an estimated $US63 million into renovating it, turning the home into an ultra-modern oasis fit for a tech titan. <\/p>\n Gates is also the 42nd largest landowner in the US, holding roughly 242,000 acres of farmland across Louisiana, Arkansas, and Arizona.<\/p>\n Tech pioneer Bill Gates paid for his children; s education, but insists they must forge their own careers.<\/p>\n LAURENE POWELL JOBS<\/p>\n Laurene Powell Jobs, the widow of Apple founder Steve Jobs, revealed her family\u2019s massive fortune will end with her.<\/p>\n Managing an empire valued at over $US20 billion ($A30 billion), Powell Jobs confirmed her children fully understand her stance.<\/p>\n \u201cI inherited my wealth from my husband, who didn\u2019t care about the accumulation of wealth,\u201d she said.<\/p>\n \u201cI\u2019m not interested in legacy wealth building, and my children know that. If I live long enough, it ends with me.\u201d<\/p>\n Powell Jobs has built a staggering coastal and urban compound portfolio. <\/p>\n In Malibu\u2019s Paradise Cove, she assembled an oceanfront mega-compound worth over $US172m ($A259m) across four adjacent parcels. <\/p>\n In 2024, she added a historic 1580sq m Spanish Renaissance Revival mansion on San Francisco\u2019s \u201cBillionaires\u2019 Row\u201d for a staggering $US70m ($A105m).<\/p>\n Laurene Powell Jobs revealed her family\u2019s massive fortune will end with her. Picture: Jemal Countess\/Getty Images for TIME<\/p>\n SIMON COWELL<\/p>\n Music mogul Simon Cowell has no interest in passing his estimated \u00a3350m ($A687m) fortune down through family generations.<\/p>\n The Britain\u2019s Got Talent judge confirmed the bulk of his estate will go to children\u2019s and animal welfare charities rather than his son Eric.<\/p>\n \u201cI\u2019m going to leave my money to somebody. A charity, probably \u2014 kids and dogs,\u201d Cowell said. \u201cI don\u2019t believe in passing on from one generation to another.\u201d<\/p>\n Cowell\u2019s current real estate focus centres on high-security luxury retreats. <\/p>\n In California, he owns a sprawling 930sq m single-level Malibu compound purchased for $US24m ($A36m). <\/p>\n In the UK, he assembled a \u00a315m ($A29.4m) Cotswolds country estate by combining four adjacent properties. The move came after he fled central London over security concerns. <\/p>\n Music mogul Simon Cowell has no interest in passing his fortune down through family generations. Picture: Stuart C. Wilson\/Getty Images<\/p>\n MARK ZUCKERBERG<\/p>\n Meta founder Mark Zuckerberg and his wife Priscilla Chan pledged to give away 99 per cent of their Facebook shares to charity. <\/p>\n The couple confirmed they will not be setting up trust funds for their daughters Maxima, August and Aurelia. <\/p>\n In an open letter to their children, the couple confirmed their wealth would go toward global social advancement via the Chan Zuckerberg Initiative.<\/p>\n \u201cWe want you to grow up in a world better than ours today,\u201d they wrote. \u201cWe will give 99% of our Facebook shares during our lives to advance this mission.\u201d<\/p>\n Zuckerberg\u2019s vast real estate portfolio includes a $US270m ($A405m) compound on Kauai, Hawaii. <\/p>\n Known as Ko\u02bbolau Ranch, the 1200-acre estate reportedly features an underground bunker.<\/p>\n He also holds a $US170m ($A255m) waterfront estate on Miami\u2019s Indian Creek Island, five homes in Palo Alto, and the 19th-century Strancally Castle in County Waterford, Ireland.<\/p>\n Meta founder Mark Zuckerberg and his wife Priscilla Chan pledged to give away 99 per cent of their Facebook shares to charity. Picture: Taylor Hill\/Getty Images<\/p>\n AKON<\/p>\n R & B icon and entrepreneur Akon told VIBE<\/a> in 2022 that he refuses to leave his kids wealth they haven\u2019t earned, warning that unearned fortunes lead to entitlement.<\/p>\n \u201cMy responsibility is to make sure they grow up responsible and strong,\u201d Akon said.<\/p>\n \u201cWhile I\u2019m taking care of my responsibility to make sure the family has a roof over their head and food \u2026 I will do that. But they have to earn their own.\u201d<\/p>\n Akon has maintained full-time residency in Dubai for more than a decade, but holds a history of famous US properties. <\/p>\n His former 13.2-acre gated estate in Sandy Springs, Georgia, hit the headlines after being featured on MTV Cribs. <\/p>\n Spanning 1390sq m, the property included indoor and outdoor pools, a private par-3 golf course, a racquetball court, and a private Chevron-branded gas pump on site.<\/p>\n R & B icon and entrepreneur Akon refuses to leave his kids wealth they haven\u2019t earned, warning that unearned fortunes lead to entitlement. Picture: Ethan Miller\/Getty Images<\/p>\n DANIEL CRAIG<\/p>\n James Bond actor Daniel Craig labelled the concept of inheritance \u201cdistasteful\u201d, confirming his kids will not be inheriting his millions.<\/p>\n Speaking to Saga Magazine, the 007 star stated his ultimate goal is to spend or donate his fortune before he dies.<\/p>\n \u201cI think inheritance is quite distasteful,\u201d Craig said. \u201cMy philosophy is to get rid of it or give it away before you go.\u201d<\/p>\n Craig and his wife, actor Rachel Weisz, maintain a 1840s Victorian terraced mansion in London\u2019s Primrose Hill, purchased for \u00a33.3m ($A6.5m). <\/p>\n Upstate in New York, Craig also owns a 124-acre Ulster County estate featuring a historic 1785 Colonial stone house, acquired in 2008 for $US2.1m ($A3.1m).<\/p>\n James Bond actor Daniel Craig labelled the concept of inheritance \u201cdistasteful\u201d, confirming his kids will not be inheriting his millions. Picture: Julian Finney\/Getty Images<\/p>\n Hollywood couple Ashton Kutcher and Mila Kunis won\u2019t be setting up trust funds for their children Picture: David Livingston\/Getty Images<\/p>\n ASHTON KUTCHER AND MILA KUNIS<\/p>\n Hollywood couple Ashton Kutcher and Mila Kunis won\u2019t be setting up trust funds for their children, Wyatt and Dimitri.<\/p>\n Speaking on the Armchair Expert podcast in 2018, Kutcher revealed that their kids are living a privileged life they don\u2019t even realise yet.<\/p>\n \u201cWe\u2019ll end up giving our money away to charity and to various things,\u201d Kutcher explained.<\/p>\n However, Kutcher offered one caveat: \u201cIf my kids want to start a business, and they have a good business plan, I\u2019ll invest in it \u2026 but they\u2019re not getting trusts.\u201d<\/p>\n The couple reside in \u201cKuKu Farms\u201d, a custom sustainable 6-acre modern farmhouse in Beverly Hills\u2019 guard-gated Bella Vista Estates. <\/p>\n They also hold a beachfront compound in Carpinteria, California, purchased for $10.1m ($A15.1m), which recently underwent a major top-to-bottom rebuild following coastal storms.<\/p>\n MORE: \u2018Scar\u2019: Unrecognisable Anastacia\u2019s battle at 58<\/a><\/p>\n \u2018Deprived\u2019: Kruger\u2019s neighbour fight escalates<\/a><\/p>\n Val Kilmer\u2019s sad fortune before tragic death<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"While many children of high-profile figures grow up surrounded by extraordinary luxury, a growing list of rich listers…\n","protected":false},"author":2,"featured_media":934372,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[64,63,134],"class_list":["post-934371","post","type-post","status-publish","format-standard","has-post-thumbnail","category-entertainment","tag-au","tag-australia","tag-entertainment"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/934371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=934371"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/934371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/934372"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=934371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=934371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=934371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/p>\n
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