Simon Cowell And Other Celebs Who Refuse To Leave Money For Their Kids (Photos)

As British chart topper Jessie J likes to sing, “It’s all about the money, money, money….

We go through life thinking that the only way we can feel secure is if we have a financial cushion to sit on while we make the big decisions in life, including investing and buying the things we need, such as homes and cars, and putting enough money away for our children’s education. As parents, we naturally want to do what’s best for them, and sometimes that means giving them a good head start in life, right? Well, not every parent sees it that way.

Sure, paying for your child’s college education might help them start their adult lives debt-free, and giving them the down payment on their first home is a great head start, but according to some parents, giving kids a little financial leeway might hinder them as much as it might help them.

Let’s face it, we live during a time in which kids these days drive $80,000 Range Rovers to school while toting the latest Birkin bags and have such costly habits as getting their Starbucks Frappucinos served to them every morning before going to school. High school prom dresses now cost more than wedding gowns, and there are kids out there who fly their friends to the Bahamas for their birthday parties. These pop culture “look at me” obsessions have spawned Tumblr pages such as The Rich Kids of Instagram and endless MTV reality shows about 16-year-olds who book B- and C-list rappers for their sweet sixteens. P. Diddy, are you available on the 16th for my kid’s bat mitzvah?

Fortunately though, not every kid born rich has parents who think their children are owed a good chunk of their fortune when they pass away. Rather than being served that Peppermint Latte at Starbucks, they want their kids to be the ones serving them behind the counter. In other terms, make that money child — the same way good old pops did!

I’m sure Tori Spelling definitely knows what I’m talking about here. Same goes with Simon Cowell, who recently said that he plans on giving his fortune away to charity rather than to his first child, who he is currently expecting with baby mama Lauren Silverman.

Check out our slideshow of celebrities and tycoons who plan on leaving their fortunes anywhere but with their kids in their inheritances. Some of these quotes are actually pretty funny, depending on which side of the receiving end you are on, of course.

  • Money, Money, Money! 1 of 9
    PicMonkey Collage
  • Simon Cowell 2 of 9
    Simon Cowell steps out with his pregnant girlfriend Lauren Silverman to enjoy a night out with Bruno Tonioli in Los Angeles

    His first child isn't even born yet, but according to Simon Cowell, the future little tot won't be getting his X factor. He says: "I'm going to leave my money to somebody. A charity, probably — kids and dogs. I don't believe in that passing on from one generation to another. Your legacy has to be that hopefully you gave enough people an opportunity, so that they could do well, and you gave them your time, taught them what you know." I wonder what Lauren Silverman has to say about that???

    Source via Business Insider

  • Gene Simmons 3 of 9
    Gene Simmons posing with his personal phone case, before leaving an office building after a meeting in the West Village, New York City

    Gene Simmons told CNBC several years ago: " 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." Instead, the $300 million bucks that belong to Simmons will be headed somewhere else after he dies.

    Source via Business Insider

  • Bill Gates 4 of 9
    Bill Gates attends the 'Big IF' rally to call for G8 action, a campaign to tackle world hunger in Hyde Park in London

    Bill Gates is another philanthropist who plans on giving his fortune away to those who need it rather than to his kids. "I knew I didn't think it was a good idea to give the money to my kids. That wouldn't be good either for my kids or society," he told The Sun in 2010. So does this mean they won't be getting that $200 Microsoft notebook on sale at Best Buy either?

    Source via Business Insider

  • Jackie Chan 5 of 9
    Jackie Chan at the Jackie Chan Hand/Foot Print Ceremony

    Talk about tough parenting. Jackie Chan has stated that he plans on giving his fortune away to charity and will not leave a dime for his son, Jaycee. "If he is capable, he can make his own money. If he is not, then he will just be wasting my money," Channel NewsAsia quoted Chan as saying.

    Source via Business Insider

  • Nigella Lawson 6 of 9
    Nigella Lawson is part of an autograph session while promoting her book 'Na Cozinha Com Nigella' at Shopping Leblon, Rio de Janeiro

    This, believe it or not, I totally agree with. Though Lawson herself comes from a wealthy background, she seems to be a firm believer in not giving her two children that same advantage. She came under fire for saying, "I am determined that my children should have no financial security. It ruins people not having to earn money." So does this mean they might be eating ramen noodles for dinner?

    Source via Business Insider

  • Michael Bloomberg 7 of 9
    Mayor Michael Bloomberg poses with tech and media moguls while  being photographed by Annie Leibovitz for Vanity Fair

    Gotta love it when dad cracks all the funniest jokes in the family, right? Bloomberg's two daughters may be left to foot the bill upon his death. Bloomberg once said, "The best financial planning ends with bouncing the check to the undertaker."

    Source via Business Insider

  • George Lucas 8 of 9
    George Lucas and wife Mellody Hobson at the 13th Annual Art Directors Guild Awards

    The father of four once signed a pledge letter to a charity and said in a statement that he would donate the $4 billion+ Disney paid him to acquire Lucas Films to charity rather than to his children. I guess this means his kids will have to get part-time jobs at Disney concession stands just like the rest of us did?

    Source via Business Insider

  • Ted Turner 9 of 9
    Billionaire media mogul Ted Turner spends his 70th birthday at the Commonwealth Club in Palo Alto, California

    No TBS money for you, kids! And that may or may not be funny. Ted Turner has five children from three marriages, but they shouldn't expect a large endowment once he passes. Whether jokingly or not, Turner was quoted in 2010 as saying he was "almost to the edge of poverty" and just wants enough money to cover funeral expenses when he dies. Ha, ha?

    Source via Business Insider

Photos via

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Article Posted 2 years Ago
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