Sting Says His Children Won't Inherit His Money
Sting is one of the richest musicians in Britain with his wealth estimated at $306 million. Before he became a superstar, the father of six grew up in a working-class family. In an interview with Mail on Sunday, he wants his children to earn their own money and not to expect trust funds from him.
"I told them there won't be much money left because we are spending it! We have a lot of commitments. What comes in, we spend, and there isn't much left," he says. "I certainly don't want to leave them trust funds that are albatrosses round their necks."
"They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate. Obviously, if they were in trouble I would help them, but I've never really had to do that. They have the work ethic that makes them want to succeed on their own merit."
Sting, 62, was among the top 10 on Sunday Time Rich List in 2013. He has two children, Joseph, 37, and Kate, 32, from his first marriage to actress Frances Tomelty. He also has four children, Brigitte Michael, 30, Jake, 28, Eliot Pauline, 23, and Giacomo Luke, 18, from his second marriage to Trudie Styler.
He is not the only celebrity who doesn't believe in trust fund. Celebrity chef Nigella Lawson said a few years ago, "I am determined that my children should have no financial security. It ruins people not having to earn money."
- Conspiracy Theorists Claim Elvis Presley Is Alive and Attended His 82nd Birthday
- Kim Kardashian 'Had a Secret Fling' With 'Celebrity Big Brother' Star Calum Best
- 'The Flash' Also Brings Back Rick Cosnett's Eddie Thawne, but How?
- Kylie Jenner Teases Her Secret Project in Seductive Instagram Photos
- 'Game of Thrones' Season 8 Could Have More Than Six Episodes
- Alec Baldwin, Mark Ruffalo and Michael Moore Stage a Star-Studded Anti-Trump Protest in NYC
- 'Good Behavior' Gets Season 2 Renewal
- Hailee Steinfeld Confirms Her Return for 'Pitch Perfect 3'