Singer has no plans to will entire £200m fortune to sons

March 2, 2016 8:24 PM

The star singer and his husband, David Furnish, are reported to insist that their sons, Zachary and Elijah, must learn to stand on their own feet.

Elton John and husband, David Furnish out with their sons, Zachary, 5, and Elijah, 3

American singer,

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The star singer and his husband, David Furnish, are reported to insist that their sons, Zachary and Elijah, must learn to stand on their own feet.

Speaking with UK Mirror, Elton says:

"Of course I want to leave my boys in a very sound financial state. But it’s terrible to give kids a silver spoon. It ruins their life.

“Listen, the boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are. But you have to have some semblance of normality, some respect for money, some respect for work.”

The couple are said to be drafting their wills currently and David cites US tycoon, Warren Buffett, as an example as he is reportedly leaving half his £53billion fortune to charity and considerably less to his children, as a form of inspiration.

David said:

“We’re still working out the details and it’s about finding the balance.

“Warren Buffet, the third wealthiest man in America, has a really cool model in that he leaves his children enough money so that they have a house, a car and all their basic needs covered and cared for so they never need worry. But it’s not crazy, silly, go-wild money so that they could be buying Picassos or private jets.

“Anything beyond the basic, they have to go out and earn it themselves. If they want a Picasso, they have to go out and earn it. I think there’s real sensibility in that.

Elton adds:

“I think what Sting said is very right, it’s a good idea. I came from a very working class family and was born in a council estate house. I earned everything I did from hard work and that’s the way they’ve got to do it as well.

“They have to do chores in the house – take their plates to be cleaned, help in the kitchen, tidy their rooms and help in the garden, and each time they do they get a little star to put on these charts they’ve made. They understand they need to do these things, and they enjoy it.”

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