9 Billionaires Who Won’t Leave Their Wealth to Their Kids

When we think of millionaire and billionaire celebrities, it’s easy to assume their children will inherit their fortunes.

Traditionally, wealth has been passed down through families, cementing generational privilege. But a surprising number of wealthy stars are breaking that mold.

Instead of leaving massive inheritances, these celebrities are pledging to give most of their wealth to charitable causes.

Their children won’t be left penniless, of course, but the bulk of these fortunes will flow into philanthropy rather than family bank accounts.

Why are they doing this?

For many, the decision comes down to values. Some don’t want their kids growing up entitled or dependent on inherited money. Others feel that extreme wealth should serve a greater purpose, especially when global inequality is so stark. The idea is to instill responsibility in their children while making a broader impact on society.

9 Celebrities saying no to inheritance include:

1. Warren Buffett

The world’s most famous investor has pledged to give away more than 99% of his fortune through charitable foundations, mainly the Bill & Melinda Gates Foundation. He believes his children should make their own way in life, and though they will receive some money, it will be only a tiny fraction compared to the billions he is donating.

2. Bill Gates

Together with his ex-wife, Melinda French Gates, the Microsoft co-founder has made philanthropy his life’s mission. He has said that leaving too much wealth to children could distort their lives. Instead, he plans to fund global health, education, and development projects, while ensuring his kids inherit “just enough” to live comfortably and independently.

3. Mark Zuckerberg

The Meta (formerly Facebook) founder and his wife, Priscilla Chan, announced that 99% of their shares will go to the Chan Zuckerberg Initiative. Their goal is to advance education, science, and healthcare. For them, creating a better world for their children matters more than leaving them billions in personal wealth.

4. Simon Cowell

The TV mogul behind shows like The X Factor and Britain’s Got Talent has said he doesn’t believe in passing money from one generation to the next. Instead, he wants his fortune to benefit charities, particularly those supporting children and animals. According to him, his son should find his own way in life rather than relying on an inheritance.

5. Jackie Chan

The legendary martial artist and actor has made it clear that his son won’t be inheriting his fortune. Chan believes his child should earn his own success. He has said that if his son is capable, he can make money on his own, and if not, giving him millions would only be wasted. Instead, Chan plans to leave most of his wealth to charity.

6. Elton John

The iconic musician, who has two young sons, has explained that he doesn’t want them to grow up spoiled by unimaginable wealth. While he and his husband David Furnish will provide a good start and education, they won’t be handing over vast sums. Elton emphasizes that his children must understand the value of hard work and self-reliance.

7. Mick Jagger

The Rolling Stones frontman shocked many by revealing that his fortune — estimated at around half a billion dollars — will not go entirely to his children. Instead, much of it will be donated to charity. He explained that his children are already well taken care of and “don’t need” such enormous sums.

8. Daniel Craig

The James Bond actor has openly criticized the idea of large inheritances, calling them “distasteful.” He believes in spending or giving away wealth during one’s lifetime rather than leaving it all to heirs. His children will inherit something, but far less than the fortune he has earned through his career.

9. Jason Njoku (Nigeria)

Closer to home, iROKO TV co-founder Jason Njoku has also made headlines with his stance on inheritance. He has said he won’t leave massive wealth to his children, explaining that his main responsibility is to give them quality education. After that, they should build their own lives. Njoku also believes in enjoying his wealth through experiences, rather than hoarding it for future generations.

The bigger picture

This growing trend among celebrities reflects a shift in how the ultra-rich think about wealth and legacy. Rather than perpetuating dynasties, they’re using their fortunes to drive change in the world. Their children, while still privileged, will be encouraged to forge their own paths.

It’s a reminder that wealth can be more than a family heirloom — it can be a tool for shaping a better future.