The well-known TV talent show judge Simon Cowell, who has a fortune of $600 million, recently made news when he declared that he would not be leaving his fortune to his son Eric.
Rather, he intends to give the most of it to organizations that aid children and animals. Cowell emphasizes education and hard work for his son’s success and believes in leaving a legacy of information and guidance.
This strategy is in line with that of other well-known individuals, such as Bill Gates and Anderson Cooper. Cooper will support his child’s education while encouraging self-sufficiency, but he will not leave a financial legacy.
Bill Gates agrees, allocating his fortune to the Bill and Melinda Gates Foundation in order to tackle world concerns.
Mark Zuckerberg, Warren Buffet, Gordon Ramsey, Ashton Kutcher, Mila Kunis, Sir Elton John, and many other affluent people place more importance on giving back to society than on leaving sizable estates. They support initiatives that help the less fortunate and seek to lessen inequality.