Guy Fieri, 5 Other Ultra Wealthy Celebrities Who Won't Leave Their Fortune To Their Kids
Guy Fieri isn't a fan of nepotism or generational wealth. In fact, he doesn't intend to leave his fortune to his kids that easily.
In a recent interview with Fox News Digital, the celebrity chef known for his vibrant personality and culinary ventures shared his stance on inheritance -- the wealth he's accumulated and how it relates to his children's future.
Fieri said he does not plan to leave his fortune to his children without certain conditions being met.
"I've told them the same thing my dad told me. My dad says, 'When I die, you can expect that I'm going to die broke, and you're going to be paying for the funeral," Fieri said.
"And I told my boys, none of this that ... I've been building are you going to get unless you come and take it from me."
The chef, who is estimated to be worth $100 million, insists that his children pursue higher education and have two degrees before they can receive their inheritance.
This view is inspired by former NBA star Shaquille O'Neal who emphasized the importance of education for access to his wealth.
"Shaq said it best. Shaq said it about his kids one time. He says, 'If you want any of this cheese, you've got to give me two degrees.' Well, my two degrees mean, you know, postgraduate. So they're on their way," he added.
The "Diners, Drive-Ins and Dives" host is father to two sons -- Ryder, 17, who is in senior high school; and Hunter, 27, who is following in his dad's footsteps with his own Food Network contract. He is also working on completing his MBA at the University of Miami.
Fieri and wife Lori are also raising his nephew Jules after his sister died in 2011. Jules is currently in a law program in Southern California, Fox reported.
Interestingly, Guy Fieri isn't the only rich person who has decided to make their children work for and earn their wealth.
Here are five more celebrities and uber-wealthy individuals who do not plan to leave their entire fortune to their kids.
1. Gordon Ramsay
Chef Gordon Ramsay attends FOX's "Masterchef" as it celebrates 100 Episodes at Walt Disney Studio Lot on February 5, 2015 in Burbank, California.
Another celebrity chef who is very strict about money, Ramsay revealed in a 2017 interview that he has no intention of leaving his $220 million fortune to his five kids.
"It's definitely not going to them, and that's not in a mean way; it's to not spoil them," Ramsay told The Telegraph UK.
"The only thing I've agreed with (his wife) Tana is they get a 25% deposit on a flat, but not the whole flat."
2. Bill Gates
He may be the seventh richest person in the world, but Mr. Microsoft isn't leaving his $118 billion to his kids. In fact, Bill and his ex-wife Melinda signed the Giving Pledge -- a charitable campaign urging the world's richest to commit the majority of their wealth to global causes.
"It's not a favor to kids to have them have huge sums of wealth. It distorts anything they might do, creating their own path," Gates told "This Morning" in 2017.
Some reports say each child will be receiving a modest $10 million.
3. Mark Zuckerberg
Mark Zuckerberg
Zuckerberg may be one of the richest and most influential people in the world, with a net worth of $124 billion, but his three kids won't automatically be Facebook-rich.
In 2015, Mark and wife Priscilla wrote an open letter to their child, Max, revealing their pledge to donate 99% of their Facebook shares to advance equality for all kids. This includes education, curing diseases, and building stronger communities.
4. Ashton Kutcher
Ashton Kutcher may be best known for his acting chops and handsome face, but the actor is also a successful businessman and venture capitalist.
Despite his wealth, Ashton has made it clear his kids won't be trustfund babies.
"My kids are living a really privileged life, and they don't even know it," the actor shared in Dax Shepard's podcast in 2018.
"And they'll never know it because this is the only one that they'll know. I'm not setting up a trust for them. We'll end up giving our money away to charity and to various things."
5. Kevin O'Leary
Mr. Wonderful is best known for his no BS, sometimes merciless persona on "Shark Tank." But this is no facade after all. The successful businessman revealed in a 2013 interview that he plans to "kick" his kids out of his house after finishing school.
"I am not planning on giving my kids any of my wealth. They know that when their education is over, I'm pushing them out of the nest," he told Chatelaine.
"I tell wealthy parents that if they don't kick their kids out of the house and put them under the stresses of the real world, they will fail to launch. They will become unsuccessful adults."
