14 Celebs Who Don't Want Their Kids To Inherit Millions

For most people, the idea of inheriting millions of dollars sounds like a dream come true. After all, who wouldn't want a financial safety net that could provide comfort for the rest of their life? While this sort of thing is generally reserved for the rich and famous, there are actually some celebrities who have no intentions of leaving their fortune to their offspring. As it turns out, not everyone believes that leaving behind a massive financial legacy is actually in their children's best interest. Of the many stars that have accumulated staggering wealth, a select few believe that handing it all over to the next generation could do more harm than good. Instead, a handful of celebs want their kids to not only learn the value of hard work but also pursue careers they're passionate about, with the goal of creating success on their own terms rather than relying on a sizable inheritance.

Over the years, a surprising number of celebrities have opened up about their inheritance plans, and their decisions have sparked plenty of debate. Ashton Kutcher and Mila Kunis, for example, shared that they don't plan on creating trust funds for their children, preferring to leave the door open for them to build something of their own. Meanwhile, Bill Gates' net worth is even higher than you might think, yet he has taken a similar approach, explaining that while his children will be well taken care of, the vast majority of his fortune will go toward philanthropy instead. And they are far from the only famous parents who feel this way. From Hollywood actors to music legends and billionaire business moguls, these stars all revealed why they don't want their kids inheriting their millions.

Anderson Cooper began his journalism career in the early 1990s, first working as a fact-checker before eventually reporting from war zones and conflict areas around the world. His decades-long career in television news, including his role as the anchor of CNN's "Anderson Cooper 360°," along with other media ventures, helped him build a multimillion-dollar fortune. Although Cooper himself was born into a wealthy family – his mom was heiress Gloria Vanderbilt and his dad was a writer named Wyatt Emory Cooper — he's worked hard to earn a more-than-comfortable living. 

When it comes to his personal life, Cooper and his former partner Benjamin Maisani, welcomed two sons, Wyatt and Sebastian, via surrogate. And while one might think that Cooper has set his kids up to inherit his money when he dies, he's not planning on leaving the boys his fortune. "I don't believe in passing on huge amounts of money. I'm not that interested in money, but I don't intend to have some sort of pot of gold for my son. I'll go with what my parents said ... 'College will be paid for, and then you got to get on it,'" he said on a 2021 episode of the "Morning Meeting" podcast. Cooper has an estimated net worth of $60 million, according to Celebrity Net Worth.

Marie Osmond found fame as a child alongside her brothers before launching a successful solo career in music. Over the decades, she expanded her résumé to include acting, television hosting, writing, and entrepreneurship, helping her build a multimillion-dollar fortune. Osmond is a mom of eight kids and, according to Celebrity Net Worth, she's worth an estimated $10 million. Despite her large family, Osmond won't be leaving her fortune to her kids when she dies. "Honestly, why would you enable your child to not try to be something? I don't know anybody who becomes anything if they're just handed money," she told Us Weekly in January 2023. "To me, the greatest gift you can give your child is a passion to search out who they are inside and to work ... And just think all [an inheritance] does is breed laziness and entitlement."

And this isn't the only time that Osmond has spoken out on this topic, either. In an October 2023 interview with Fox News Digital, Osmond said, "I believe that, when I leave this life, I want my children to know that they can take care of themselves." She does have a plan for her millions, however. "I worked hard, and I'm gonna spend it all and have fun with my husband [Steve Craig]," she told Us Weekly.

Elton John rose to fame in the early 1970s and went on to become one of the best-selling music artists of all time. His decades-long career as a singer, songwriter, performer, and producer has earned him an estimated net worth of $650 million, according to Celebrity Net Worth. John has also had great fulfillment in his personal life. He and his husband, David Furnish, have been together for more than three decades. The couple welcomed sons Zachary and Elijah via surrogate in 2010 and 2013 respectively, making their family complete. 

The truth about John and his kids is that, as he guides his boys through life's milestones — from learning to tie their shoes to riding a bike — he's also made it a priority to teach them the value of money and financial responsibility. To take it a step further, John has openly said that he wants his kids to learn the value of a dollar rather than just be given a lump sum when he dies. "Of course I want to leave my boys in a very sound financial state," John told the Mirror in 2016. "But it's terrible to give kids a silver spoon. It ruins their life," he added.

Jeff Goldblum has been a Hollywood mainstay since the 1970s, but blockbuster films like "Jurassic Park" and "Independence Day" helped turn him into one of the industry's most recognizable stars. Decades of acting, along with television and other entertainment ventures, have helped him build an estimated net worth of $40 million, according to Celebrity Net Worth. Goldblum's massive age gap marriage to Emilie Livingston took place in November 2014, and the couple welcomed two kids, Charlie and River, in the years that followed. While the actor adores being a father, he finds himself on a list of stars who don't plan on leaving their kids an inheritance. The reason? Goldblum wants to teach Charlie and River how to be successful without handing them the keys.

"It's an important thing to teach kids," the actor said on a 2024 episode of the "Table for Two" podcast. "I'm not going to do it for you. And you're not going to want me to do it for you. You've got to figure out how to find out what's wanted and needed and where that intersects with your love and passion and what you can do. And even it if doesn't, you might have to do that anyway," he added.

Ashton Kutcher became a household name after landing the role of Michael Kelso on "That '70s Show" in the late 1990s. Over the years, he transitioned from sitcom star to entrepreneur, investing in technology companies and building a successful career behind the scenes as a producer. Those ventures, along with his acting work, have contributed to an estimated net worth of $500 million, according to Celebrity Net Worth. Kutcher is married to his "That '70s Show" co-star Mila Kunis, and the couple share two children together, a daughter named Wyatt and a son named Dimitri. When it comes to passing down wealth, however, Kutcher is taking an unexpected approach.

"I'm not setting up a trust for them," Kutcher said on a 2018 episode of Dax Shepard's "Armchair Expert" podcast. "We'll end up giving our money away to charity and to various things ... If my kids want to start a business, and they have a good business plan, I'll invest in it. But they're not getting trusts. Hopefully they'll be motivated to have what they had or some version of what they had," For Kutcher, the goal isn't to leave his children without support, but rather to make sure they understand the value of earning their own success.

Kevin O'Leary is best known for his role on "Shark Tank." He joined the series as an investor in 2009 but his path to success started long before his television career. The businessman built his fortune through several entrepreneurial ventures, including co-founding software company SoftKey, which was later sold to Mattel. O'Leary's business success helped him amass an estimated net worth of $150 million, according to Celebrity Net Worth. Despite his massive fortune, O'Leary made it clear that he doesn't want his children relying on an inheritance.

"I sat down with the estate planners and built a generational skipping trust that provides for any child in my family from birth to the last day of college and then zero," O'Leary told CNBC in 2021. "No free lunch, it's just the wrong thing to do. You curse a child when you de-risk their lives. But that doesn't mean you can't help them. And listen, if [my son] ever has a kid, that trust is going to take care of that child from birth to the last day of college," he added. O'Leary has two kids, Savannah and Trevor, and they are both already successful in business. Savannah works as a director and creative professional in New York City, while Trevor went to school to become an engineer.

Gordon Ramsay is one of the world's most recognizable chefs thanks to his fiery personality and impressive culinary skills. Beyond his television appearances on shows like "Hell's Kitchen" and "MasterChef," Ramsay built a massive restaurant empire. As you can imagine, he's worth a lot of money — but none of it will be going to his children when he dies. "It's definitely not going to them, and that's not in a mean way; it's to not spoil them," Ramsay told The Telegraph in 2017. "The only thing I've agreed with [my wife] Tana is they get a 25% deposit on a flat, but not the whole flat," he continued.

Ramsay is the father of six kids — and the celebrity chef plans to teach all six the value of a dollar. "I've been super lucky, having that career for the last 15 years in the US. Seriously, it has earned a fortune and I've been very lucky, so I respect everything I've got," Ramsay told The Telegraph. It's hard to predict whether or not Ramsay will change his tune as he gets older but, for now, he's making other plans for his $220 million.

Mick Jagger has spent more than six decades as the frontman of The Rolling Stones, becoming one of the most influential figures in rock music history. His legendary career has brought him worldwide fame and has built him the seriously massive fortune of $600 million. When Jagger's time on earth comes to a close, there are eight people who won't be spending his money — his kids. "The children don't need $500 million to live well. Come on," the singer told the Wall Street Journal in 2023. Instead, Jagger believes that his money would serve the world better if it went to charity to "do some good in the world."

Jagger's response circulated on social media, with fans sharing conflicting opinions of the rockstar's decision. "He's worked hard for his entire life. I feel he can do whatever he wants with his hard-earned money," one Facebook user commented on the story. "I always feel that the children should get something even if they don't need it, you can always use more [and] it keeps everything together [and] makes them feel like you were at least thinking about them in the end," another Facebook user wrote.

Sting rose to fame in the late 1970s as the frontman of The Police before launching an enormously successful solo career. Over the years, his work in the entertainment industry helped him amass an estimated net worth of $550 million, according to Celebrity Net Worth. Sting is a father to six kids — he and his wife, Trudie Styler, share four children together, while he is also the father of two children from his first marriage. Despite building an incredible fortune over the course of his career, Sting is another celebrity who has made it clear that he doesn't plan on setting his kids up for the future.

"I certainly don't want to leave them trust funds that are albatrosses 'round their necks," he told the Daily Mail in 2014. "They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate," he explained. Sting's philosophy isn't about denying his children support — it's about encouraging them to build their own futures. In his eyes, it seems as though a strong work ethic is worth far more than any inheritance could ever be.

He co-founded Microsoft in 1975, helping transform the company into one of the world's most influential technology giants. Over the past several decades, Gates has become one of the wealthiest people on the planet. Despite his extraordinary fortune, however, he has long maintained that most of his wealth won't be passed down to his children. "In my case, my kids got a great upbringing and education, but less than 1% of the total wealth because I decided it wouldn't be a favor to them," Gates said on a 2025 episode of the "Figuring Out" podcast. 

Gates then went on to explain his thinking on the matter. "You don't want your kids to ever be confused about your support for them and your love for them," he said. "So, I do think explaining early on your philosophy, that you're going to treat them all equally and that you're going to give them incredible opportunities, but that the highest calling for these resources is to go back to the neediest." Fortunately, the three Gates kids are doing alright — Jennifer is a pediatric resident physician, Rory is earning his PhD at the Institute of World Politics while working as an Afghanistan War Commission analyst, and Phoebe co-founded a fashion startup.

Shaquille O'Neal dominated the NBA for nearly two decades, becoming one of the greatest basketball players in league history. Since retiring from professional basketball, O'Neal has expanded his résumé, working as a television analyst and inking various brand deals with companies like Carvana and Icy Hot. All of these endeavors contributed to O'Neal's financial success, and he has an estimated net worth of $500 million, according to Celebrity Net Worth. And while you might think that his six kids are set for life, he has some rules in place before he signs those trust funds. 

"My kids are older now. They're kinda upset with me. Not really upset, but they don't understand. I tell them all the time: 'We ain't rich. I'm rich,'" O'Neal said on the "Earn Your Leisure" podcast in 2021. "You gotta have bachelor's or master's [degrees], and then if you want me to invest in one of your companies, you're going to have to present it, boom boom boom, bring it to me. I'll let you know, I'm not giving you nothing," he added.

Akon burst onto the music scene in the early 2000s with a string of chart-topping hits that helped make him one of the biggest artists of the decade. Despite the $50 million he's accumulated, Akon said he doesn't believe in simply handing money to his children. "While I'm taking care of my responsibility to make sure the family has a roof over their head and food, if I have the time to do that and show love, yes, I will do that," he said on an episode of "The Zeze Millz Show" (via Vibe). "But my responsibility is to make sure they grow up responsible and strong," he added.

Akon is still active in the entertainment industry, making music and touring. He released his sixth album, "Beautiful Day," in April 2026, and he embarked on a 2026-2027 North American tour with fellow R&B superstar, Ne-Yo. Given that Akon is a father of nine and a man dedicated to his craft, it's no surprise that he is still working hard, and that drive is something that he wants to teach his kids before offering them any handouts.

Warren Buffett built his fortune as one of the world's most successful investors, earning himself the nickname "Oracle of Omaha" for his impressive track record in the stock market. Over the decades, he has amassed one of the largest fortunes in the world. Although Buffet is worth an estimated $139 billion, according to Forbes, he has consistently said that he has a plan in place when it comes to leaving his fortune to his three kids.

Instead, Buffett shared that his money would be of better use helping others rather than being passed down as an inheritance. "After much observation of super-wealthy families, here's my recommendation: Leave the children enough so that they can do anything, but not enough that they can do nothing," Buffett said in a letter to Berkshire Hathaway shareholders (via Roulet Law Firm). "Society has a use for my money; I don't," he added.