Elton John Won’t ‘Ruin’ His Sons’ Lives WIth a Massive Inheritance
When your dad is one of the biggest music superstars in the world, most people assume you’ll have it pretty easy for the rest of your life. However, Sir Elton John is not planning on leaving his sons all of his millions when he dies.
Elton John’s massive musical success
John rose to fame in the ’70s with hits like “Rocket Man,” “Tiny Dancer,” “Your Song,” and “Bennie And The Jets.” The piano player is one of the best-selling artists of all time, with over 300 million records sold and more than 50 Top 40 hits.
His 1973 album, Goodbye Yellow Brick Road, and his 1974 Greatest Hits compilation are two of the best-selling albums in the world. John’s huge musical success has made him plenty of money.
According to Celebrity Net Worth, John is worth $500 million. The singer makes $80 million per year when he goes out on tour. And he owns an art collection that is reportedly worth $200 million. John also holds $50 million in real estate.
Elton John and David Furnish share 2 sons
John and his longtime partner, David Furnish, made their relationship official in 2005, on the day civil partnerships became legal in the U.K. In 2014, when same-sex marriage was legalized, the couple wed on the ninth anniversary of their civil partnership ceremony.
The couple shares two sons: Zachary, 12, and Elijah, 9. Both boys were born via the same surrogate. Most assume John is planning on leaving his massive fortune to his sons. But the rocker says that’s not the case.
Elton John says a fortune would ‘ruin their life’
“Of course I want to leave my boys in a very sound financial state,” he once told The Mirror. “But it’s terrible to give kids a silver spoon. It ruins their life.”
“Listen, the boys live the most incredible lives,” John admitted. “They’re not normal kids, and I’m not pretending they are. But you have to have some semblance of normality, some respect for money, some respect for work.”
So, what does John plan to do with his millions? He said he’s taking a cue from billionaire Warren Buffett and fellow musician Sting, and donating most of his fortune to charity.
“[Buffett] has a really cool model in that he leaves his children enough money so that they have a house, a car, and all their basic needs covered and cared for so they never need worry.” Furnish chimed in. “Anything beyond the basic, they have to go out and earn it themselves.”
“I think there’s real sensibility in that,” he continued. “The greatest joys, everything Elton and I have created, have come from hard work and that’s where your self-esteem comes from.”
“I think what Sting said is very right, it’s a good idea,” John explained. He noted his own “working-class “background.” “I earned everything I did from hard work and that’s the way they’ve got to do it as well,” he said.
“They have to do chores in the house – take their plates to be cleaned, help in the kitchen, tidy their rooms and help in the garden, and each time they do they get a little star to put on these charts they’ve made,” the singer shared. “They understand they need to do these things, and they enjoy it.”
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