Tycoons who Refuse to Leave their Fortunes to their Children
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Tycoons who Refuse to Leave their Fortunes to their Children

Tycoons who Refuse to Leave their Fortunes to their Children
Tycoons who refuse to leave their fortunes to their children: The billionaires listed in this article are arguably some of the world's richest people and money is the least of their concerns. While several super wealthy people are more than happy to share their incredible fortunes with their children, others just want their heirs to learn the value of hard work. Many tycoons even believe that in the long run living a life of luxury which has been not been earned through hard work would not benefit their children.   Warren Buffett: Globally known as the super wealthy investor and philanthropist, this man has pledged 99% of his massive fortune to charitable causes. Some part of the money will be allotted during his lifetime while the rest will be spent after his death. He has already started the proceedings by promising more than 80% to the Gates foundation. Buffett said in his letter to the Gates Foundation: "I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing."   Michael Bloomberg: Presently the mayor of New York earns a high salary annually for his government duties. Reportedly Bloomberg’s net worth is valued at around $20 billion, which makes one of the richest persons in the world. Since Bloomberg is an avid philanthropist, he has already pledged millions to several charities and nonprofit organizations, leaving behind almost nothing to his daughters. Gene Simmons: One of the prominent members of a popular rock band in America, Gene is a self-made man. He reportedly started a musical group which went on to win several awards and managed to set 28 gold records over the years. It now appears that Simmons favors a similar path for his two kids. He told CNBC several years ago: "in terms of an inheritance and stuff, they're gonna be taken care of, but they will never be rich off my money. Because every year they should be forced to get up out of bed, and go out and work and make their own way." Therefore his $300 million would reportedly be donated to many charities after his death. Bill Gates: The founder and the chairman of Microsoft is ranked as one of the richest persons in the world. However he is least interested in handing over his massive fortune to his three kids. Instead the software mogul will donate to his own philanthropic foundation which was started in the year 1994. Nigella Lawson: The bestselling author and television personality has made millions for herself even before she got married to super wealthy art collector Charles Saatchi. Though Lawson herself is from a well off family, she is a firm believer in the principle of not spoiling her two children by providing them with the same benefits on a platter.
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