Why Gordon Ramsay’s Kids Won’t Get an Inheritance

Why Gordon Ramsay’s Kids Won’t Get an Inheritance

Usually when we read about celebrity offspring, it’s because their famous parents have lavished them with over-the-top gifts — like that time P. Diddy gave his son Justin a nearly $400,000 Maybach for his 16th birthday.

The only car I ever got from my parents, meanwhile, was a 1980s Mercury Sable bought off my grandmother that left behind a trail of transmission fluid wherever it went.

But joining a growing number of celebrity parents who have publicly stated they plan on raising their kids more along the Mercury than the Maybach route is celebrity chef Gordon Ramsay. He recently made headlines for saying that he won’t be leaving his fortune to any of his four kids: Megan, 18; Jack and Holly, 17; and Matilda, 15.

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Not only is he not planning to leave them an inheritance, the kids don’t even get to sit with their parents in first class when they travel (they haven’t earned that right, he says) — and rarely get to eat at their father’s famous fine-dining restaurants. Ramsay says these decisions have less to do with being cheap and more to do with not wanting to raise spoiled kids.

“I’ve never been really turned on about the money,” he said in an interview with the Telegraph. “That’s not my number one objective, and that’s reflected in the way the kids are brought up.”

That’s not to say Ramsay doesn’t offer his kids any support. He says he will help out with a down payment on their future homes, and gives his kids an allowance that ranges from 100 pounds a week for his oldest daughter in university, to 50 pounds a week for the younger kids. But all his kids are expected to earn their own money, buy their own things and do volunteer work.

If your dad is one of the most famous chefs in the world, that may sound like you’re getting the short end of the stick. But Ramsay joins the ranks of celebrities like Mila Kunis and Ashton Kutcher, who have said they will raise their kids “poor” — that is, not entitled and knowing the value of a dollar. Martial arts star Jackie Chan has also said that he won’t be leaving an inheritance to his son, Jaycee, and was famously quoted as saying, “If he is capable, he can make his own money. If he is not, then he will just be wasting my money.”

And let’s not forget about business tycoons like Bill Gates and Warren Buffett, who plan to give the majority of their wealth to charities rather than to their children.

So is this a case of teaching their children how to fish rather than handing them a platter of seared salmon and caviar? Or are these parents being a little too harsh and tight-fisted considering their fortunate circumstances?

Whatever your opinion, there’s a fine line between wanting to give your kids the best in life and raising spoiled children, and these celebs seem to think they’re towing that line well. If you’re worried your kids have been a little too vocal with their “I want this now!” demands in the checkout line, here are some tips on how to keep them from growing up materialistic.

RELATED: Confessions of a Trust Fund Baby

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