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American country singer Marie Osmond’s recent pledge not to leave her children an inheritance has reignited a debate over so-called “nepo babies”.
Osmond, who has an estimated net worth of $20 million, told a magazine that his refusal to share his fortune was not malicious.
On the contrary, she stated that she wanted to ensure that the children cultivate their own passions and achieve success on their own.
“Nepo babies” (short for “nepotism babies”) are those who use their parents’ wealth and popularity to build their own careers.
“I don’t know anyone who becomes anything if they just get paid,” Osmond told Us Weekly magazine.
The singer isn’t the only one with an interesting take on celebrity parenting.
Other well-known names have also said they plan to opt-out of passing on their fortunes. Though, in some cases, lack of inheritance hasn’t stopped children from capitalizing on their parents’ success.
Below, check out a list of some of these celebrities – and how some of their children fared:
Daniel Craig
British actor Daniel Craig has said he finds the idea of an inheritance “abhorrent” and that his two children will not receive his $125 million fortune.
“My philosophy is get rid of it or give it away before I leave,” said the star of James Bond in 2020.
But even without an inheritance, Craig’s eldest daughter, Ella, 31, has already made a name for herself.
She is represented by Ford Models, one of the largest modeling agencies in the world, and appeared on the cover of L’Officiel, a French fashion magazine, earlier this year.
He also followed in his father’s footsteps and tried his hand at acting, starring in a few plays with the Shakespeare & Company theater group, as well as films.
Ella has spoken publicly about her interest in acting – and said she hopes to be respected “as a class actress and to do really good quality work”.
Gordon Ramsay
Despite being the children of one of the most famous chefs in the world, the five descendants of Gordon Ramsay don’t always get to enjoy their father’s wealth.
They rarely eat at their Michelin-starred restaurants, Ramsay said. Nor do they sit with their parents in first class on the plane when they go on vacation.
“They haven’t worked nearly enough to pay for it,” Ramsay, who is worth an estimated £63 million, told British newspaper The Telegraph in 2017.
He added that he has no intention of leaving his money to his children when he dies, saying he wants to avoid spoiling them.
So far, the Ramsay children seem to have gone their own ways. Their eldest daughter, Megan, 24, studied psychology at university, while their eldest son, Jack, 23, joined the Royal Marines.
His 21-year-old daughter, Matilda, has become a television personality, just like her father. She hosted her own cooking show, Matilda and the Ramsay Bunchon CBBC, the BBC’s children’s television channel, and appeared on MasterChef Junior.
She also has over a million followers on Instagram and another 10 million on TikTok, where she often shares videos of her father – some of which have gone viral.
Sting
British singer-songwriter Sting is one of the most successful musicians in the world, with an estimated net worth of $400 million. But he says his children will get next to nothing when he is gone.
“What comes in we spend, and not much is left,” the father of six told Britain’s Daily Mail in 2014, adding:
“I certainly don’t want to leave them trust funds that are a burden. They have to work.”
But that hasn’t stopped Sting’s children from embarking on notable careers in show business. His daughter, Mickey Sumner, is an actress – she appeared in the film Frances Ha (2012), by Greta Gerwig -, while two of her sons, Eliot and Joe, are musicians.
Sting also had Joe open on his latest world tour, My Songsin 2022.
Warren Buffett
Some of these celebrities seem to have been inspired by Warren Buffett.
The American tycoon announced that he intends to donate more than 99% of his fortune – and that there will not be much left over for his children.
Buffett wrote in 2021 that “After much observation of super-rich families, here’s my recommendation: Leave your kids enough for them to do anything, but not enough for them to do nothing.”
All of her adult children have embarked on careers in areas ranging from philanthropy and music to politics and environmental conservation.
This report was originally published here.
I am Frederick Tuttle, who works in 247 News Agency as an author and mostly cover entertainment news. I have worked in this industry for 10 years and have gained a lot of experience. I am a very hard worker and always strive to get the best out of my work. I am also very passionate about my work and always try to keep up with the latest news and trends.
