When your dad is one of the biggest musical superstars in the world, most people assume you’ll have it pretty easy for the rest of your life. However, Sir Elton John does not plan to leave his children all of his millions when he dies.
The great musical success of Elton John
John rose to fame in the ’70s with hits like “Rocket Man,” “Tiny Dancer,” “Your Song,” and “Bennie And The Jets.” The pianist is one of the best-selling artists of all time, with more than 300 million records sold and more than 50 Top 40 hits.
His 1973 album, goodbye yellow brick roadand its 1974 greatest hits compilation are two of the world’s best-selling albums. John’s huge musical success has made him a lot of money.
According to Celebrity Net Worth, John is worth $500 million. The singer earns 80 million dollars a year when he goes on tour. And he owns an art collection reportedly worth $200 million. John also owns $50 million in real estate.
Elton John and David Furnish share two children
John and his longtime partner, David Furnish, made their relationship official in 2005, the day civil unions were legalized in the UK. In 2014, when same-sex marriage was legalized, the couple tied the knot on the ninth anniversary of their civil union ceremony.
The couple share two sons: Zachary, 12, and Elijah, 9. Both boys were born through the same surrogate mother. Most assume that John plans to leave his enormous fortune to his children. But the rocker says that it is not so.
Elton John says a fortune would ‘ruin his life’
“Of course I want to leave my children in a very solid financial state,” he once said. Mirror. “But it is terrible to give children a silver spoon. It ruins his life.”
“Listen, the boys live amazing lives,” John admitted. “They are not normal children, and I do not pretend that they are. But you have to have some semblance of normalcy, some respect for money, some respect for work.”
So what does John plan to do with his millions? He said he is following the lead of billionaire Warren Buffett and fellow musician Sting, and donating most of his fortune to charity.
“[Buffett] he has a great model where he leaves enough money for his kids to have a house, a car and all their basic needs covered and taken care of so they never have to worry.” Furnish intervened. “Anything beyond the basics, they have to go out there and earn it for themselves.”
“I think there is real sensitivity in that,” he continued. “The greatest joys, everything that 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 correct, it’s a good idea,” John explained. He pointed to his own “working class” “background.” “I earned everything I did with hard work and that’s how they have to do it too,” he said.
“They have to do chores around the house: carry the dishes to be cleaned, help in the kitchen, tidy up their rooms and help in the garden, and every time they do it they get a little star to put on these charts they’ve made. ”, shared the singer. “They understand that they need to do these things and they enjoy it.”
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Elton John Won’t ‘Ruin’ His Kids’ Lives With a Massive Inheritance
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