Andrew Lloyd Webber Won’t Leave His Astonishing Net Worth to His Kids ‘Because Then They Have No Incentive to Work’
Known for legendary works like Phantom of the Opera and Cats, composer Andrew Lloyd Webber is a musical theater icon. His astonishing success on Broadway and London’s West End has earned him a multi-million dollar fortune and massive net worth. But Webber says he’s not leaving it to his five children.
Andrew Lloyd Webber boasts a very high net worth
Lloyd Webber first burst onto the theater scene when he was just 17. During this time when he met writer Tim Rice, who became his creative collaborator. Together, they created The Likes of Us, though it failed to find a financial backer at the time, per The Guardian.
Eventually, Lloyd Webber and Rice’s efforts culminated in Joseph and the Amazing Technicolor Dreamcoat in 1972, a two-hour stage musical that retells the biblical story of Joseph. Their third musical, Jesus Christ Superstar, also debuted around this time. It went on to become a triumph on Broadway and the West End, grossing more than $237 million worldwide.
The play held the record for longest-running West End musicals before it was overtaken by another of Lloyd Webber’s shows, Cats, in 1989. The adaptation of T.S. Elliot’s poem ran for a whopping 21 years in London and 18 years on Broadway before closing.
Lloyd Webber topped himself again with The Phantom of the Opera. In September 2022, production announced its closing in 2023 after 35 years on Broadway, per Deadline.
Several of his plays have been adapted into movies, to varying success. This, combined with revenue from his widely-successful on-stage productions, amassed in nothing less than a fortune for the composer. As reported by Celebrity Net Worth, Lloyd Webber has a net worth estimated to be over $1.2 billion.
Andrew Lloyd Webber won’t leave his wealth to his 5 kids
But despite his massive fortune, Lloyd Webber isn’t planning on leaving his money to his kids. He has five of them: Imogen, Nicholas, Alastair, William, and Isabella.
“It is about having work ethic,” he told The Mirror in 2012. “I don’t believe in inherited money at all. I am not in favor of children suddenly finding a lot of money coming their way because then they have no incentive to work. So I will give them a start in life but they ain’t going to end up owning The Really Useful Group.”
According to Lloyd Webber, his kids are surprisingly “not bothered” by the prospect of not inheriting their father’s fortune. After he dies, the composer claimed he’s leaving his billions of dollars to his wife, Madeleine Gurdon, with the intention of donating most of it.
“It is one thing you do start to think about when you get to my age,” he added. “I don’t think it should be about having a whole load of rich children and grandchildren. I think it should be used in a way to encourage the arts.”
He continued, “It is extremely likely that my wife Madeleine will outlive me, so I will leave the problem with her,” before adding, “I know that both of us would like to see it spread around. We could use the royalties to encourage everything from bursaries to young artists and composers. I feel I owe a debt and that is very largely due to the success not only in Britain but also the rest of the world. So I can’t neglect places like America, or even China.”
What’s next for Lloyd Webber?
More recently, Lloyd Webber’s Bad Cinderella heads to Broadway following a delayed West End run.
“I am thrilled and delighted that we are bringing Bad Cinderella to the Imperial Theatre,” Webber said (via Deadline). “We have been working hard on a few new songs for our Broadway opening and, with such brilliant team, led by the spectacular Linedy [Genao], I know this is going to be really special.”
