Business insider has recently reported that many of the world’s richest tycoons won’t give their wealth to their kids.
Warren Buffet has pledged to give 99% of his wealth away, saying that “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”.
The bass guitar player of rock band KISS feels the same way and wants his kids to make their own way in life. He says that “in terms of inheritance, they’ll be taken care of but the will never be rich by 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”.
Bill Gates says that “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”. Bill and his wife Melinda have established a foundation and are actively giving away their wealth rather than giving it to their kids.
And of course there is Gina Rhinehart. She has made it very clear that she does not think her children are fit to receive any inheritance, and has the court documents to prove it!
How do you feel about spending your kids inheritance?
Do you think that kids should make their own way in life without financial support from their parents?
Or do you think that kids of today should (or even need) to receive an inheritance of family money or financial support from their parents?
Let us know your say…