Daniel Craig and Other Celebrities Breaking the Tradition of Inheriting Wealth to Their Children
Celebrities like Daniel Craig, Ashton Kutcher, and Gordon Ramsay reveal their unconventional approach to wealth by choosing not to leave their children inheritances Find out why these stars believe in teaching their kids the value of hard work and independence
Celebrities like Daniel Craig and Ashton Kutcher have chosen not to leave trust funds for their children. According to Craig, the idea of dying as a rich person is considered a failure. He believes in giving away or getting rid of wealth before passing on, referencing Andrew Carnegie's generous donation of what would be equivalent to 11 billion dollars in today's money.
In 1992, Craig became a father when his daughter Ella was born to his ex-wife Fiona Loudon. Later in 2018, Craig and Rachel Weisz had a baby girl together. In 2011, Craig became the stepfather to Weisz's son, Henry, from her previous relationship with Darren Aronofsky.
Similarly, Kutcher, known for his role in That '70s Show, has a daughter named Wyatt and a son named Dimitri with his former costar Mila Kunis. In November 2019, Kutcher explained to Dax Shepard why they did not plan to leave any money to their children.
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Kutcher explained on an episode of the "Armchair Expert" podcast, "I’m not setting up a trust for them. We’ll end up giving our money away to charity and to various things. My kids are living a really privileged life, and they don’t even know it. And they’ll never know it, because this is the only one that they’ll know." Find out why more celebrities, from Marie Osmond to Sting, aren't giving their kids trust funds by scrolling down.
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Daniel Craig and More Celebrities Not Leaving Their Children Inheritances
Daniel Craig, Ashton Kutcher and more celebrity parents have decided not to leave their children with trust funds.
During an August 2021 interview, Craig expressed his belief that if you die as a wealthy person, you've missed the mark. Referencing Andrew Carnegie's substantial charitable donations, Craig emphasized his own desire to avoid leaving great sums to the next generation. Becoming a father in 1992 with the birth of his daughter Ella, Craig also became a stepfather when he wed actress Rachel Weisz in 2011.
Kutcher, the star of That ‘70s Show, has two children, daughter Wyatt and son Dimitri, with his former costar Mila Kunis. In November 2019, Kutcher explained to Dax Shepard during an episode of the “Armchair Expert” podcast that they did not plan to establish a trust for their children. He expressed their intention to give their money to charity and other causes, stating that his children are living a privileged life and may not even realize it.
Keep scrolling to find out why more celebrities aren’t giving their kids trust funds, from Marie Osmond to Sting.
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Daniel Craig and More Celebrities Not Leaving Their Children Inheritances
Celebrity parents like Daniel Craig and Ashton Kutcher have made the decision to not leave trust funds for their children. Craig expressed his belief that leaving great sums of wealth to the next generation is not in line with his philosophy, citing Andrew Carnegie's example of giving away the majority of his fortune. In an interview with Candis in August 2021, Craig stated, "Isn’t there an old adage that if you die a rich person, you’ve failed? My philosophy is to get rid of it or give it away before you go."
In 1992, Craig embraced fatherhood for the first time when his daughter Ella was born to him and his then-wife Fiona Loudon. In late 2018, Craig and Rachel Weisz became proud parents to a baby girl. Their family also expanded when Craig became a stepfather to Rachel's son, Henry, from her previous relationship with Darren Aronofsky.
Meanwhile, Kutcher, known for his role in That ‘70s Show, shares daughter Wyatt and son Dimitri with his former costar Mila Kunis. In November 2019, Kutcher explained to Dax Shepard why they had no plans to leave an inheritance for their children.
Kutcher explained on an episode of the "Armchair Expert" podcast that he's not creating a trust fund for his kids. Instead, he plans to give his money to charity and other causes. He wants his children to lead a privileged life without realizing it, as this is the only life they'll know. If you want to learn more about why other celebrities like Marie Osmond and Sting are also choosing not to set up trust funds for their kids, keep scrolling.
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Guy Fieri
"I have relayed to them the same message my father relayed to me. My father used to say, 'When I pass away, don't expect to inherit anything, in fact, you'll be the one covering my funeral expenses,'" the restaurant owner, who has two children with his wife Lori Fieri, shared with Fox News in December 2023. "I have also informed my sons that they won't be able to claim any of the success I've built unless they come and take it from me."
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Anderson Cooper
The Anderson Cooper 360 host announced in September 2021 that his son Wyatt would not receive an inheritance.
Cooper expressed his views on wealth during an interview on the “Morning Meeting” podcast, stating, “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 gotta get on it.’”
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Don McLean
"I ceased my financial support for my daughter last year," the "American Pie" singer disclosed to the Daily Mail in September 2021, following Jackie's revelation to Rolling Stone three months earlier about her upbringing being marked by "a constant state of fear." "I made it clear to my daughter that if she spoke negatively about me and tarnished my image, I would disown her. Consequently, she has been disinherited — a trust fund of nearly $3 million has been forfeited."
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Daniel Craig
The Knives Out star was "exhausted" after welcoming his youngest child, he exclusively told We in November 2019. Two years later, he called inheritances "distasteful."
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Gordon Ramsay
"[My money is] definitely not going to them, and that’s not in a mean way," the chef told The Telegraph in February 2021. "It’s to not spoil them."
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Marie Osmond
In a March 2020 episode of The Talk, the then-cohost expressed her belief that she would not be leaving any money to her children. She explained that she feels it would be a disservice to hand them a fortune, as it takes away the ability for them to learn the value of hard work. She emphasized the importance of allowing children to be proud of what they achieve, and stated her intentions to donate her wealth to charity. Three years later, Osmond reaffirmed her stance in an exclusive interview with We.
"Why enable your child to not strive for something? I believe the best gift a parent can give is a passion to discover who they are and the value of hard work. I have pursued many different interests, and I encourage my kids to try everything and finish what they start. I don't believe in handouts or inheritance leading to laziness and entitlement. I've worked hard for my success and intend to enjoy it with my husband!"
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Ashton Kutcher
The Two and a Half Men alum saw rich people as "evil" growing up, he told Shepard.
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Sting
"I don't want to leave my children trust funds that become burdens for them," stated The Police frontman to The Daily Mail in June 2014. "They need to earn their own way. All of my kids understand that, and they hardly ever request anything from me, which I truly admire and value."
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Gene Simmons
In a 2007 episode of Gene Simmons Family Jewels, the KIIS rocker expressed his views on his two kids, stating, "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. ... I don’t want them to say, 'Thanks, dad, for making me rich.' No, you wanna be able to stand on your own two feet and say, 'I did that.'"
