These High Profile Billionaires and Millionaires Aren’t Leaving Their Fortunes to Their Children

1401

There are many business magnates, billionaires, and celebrities who believe that they have worked too hard to be simply handing their fortunes over to their children when they die. Let us take a look at these high profile millionaires and billionaires some who are world’s biggest business magnates who won’t be leaving a penny to their children. With inheritance tax in the U.K set at 40% on all values above $425000, it is clear why these members of the super-rich elite would rather let their money go towards causes worthwhile.

Nigella Lawson

She is a food writer, journalist and TV personality. Lawson is one of the pioneers behind the food porn revolution with her books like Feast, Nigella Express and How to Be a Domestic Goddess. She has two adult children from her first marriage and a stepdaughter from her second marriage. Lawson is worth around $15 million. According to her, not having to earn money and financial security actually ruins people.

Gordon Ramsay

Ramsay owns and operates 40 restaurants across the globe with 16 Michelin stars. He is one the biggest names in the British restaurant industry. With shows like MasterChef USA MasterChef Junior and Hell’s Kitchen, the renowned celebrity chef has made $60 million so far.

He is the father of four and has no intention of leaving his wealth to his children. Ramsay’s children still sit in economy on flights while he and his wife, Tana in first class. His idea too is not to spoil them with all the fortune that he has earned in the last 15 years which he respects.

Mark Zuckerberg

The co-founder of social media giant Facebook has a net worth of $74 billion. When the couple, Mark and Priscilla Chan welcomed their first daughter, Max they posted an announcement on Facebook declaring that they will be donating 99% of Max’s inheritance to charity.

According to them, they want her to grow up in a world better than theirs and they have a moral responsibility to all the children in the next generation. Since then the couple has given birth to another daughter, August.

Bill Gates

The Microsoft founder Bill Gates plans to pass the majority of his vast fortune of $89.6 billion to charitable causes. Gates and his wife Melinda own The Bill and Melinda Gates Foundation which is world’s largest private charitable foundation helping all people lead a healthy and productive life.

His three children have inherited their father Bill Gates’ philanthropic gene and are reportedly happy to not be inheriting their father’s wealth. The Microsoft tycoon in a Reddit AMA shared that his children will inherit just $10million each which equates to 0.01116% of his fortune.

(Photo credit: eonline, billgatesandfriends, thesun, Pinterest, CNN)