Marie Osmond says her children won’t have an inheritance

Marie Osmond says her children won’t have an inheritance

Marie Osmond says her children won’t have an inheritance

Marie Osmond wants her seven children to make a fortune, according to a new report.

The country singer believes that people who are simply given money often end up lacking drive and ambition, and she wants her children to discover their own interests on the path to forging meaningful careers. As a result, Osmond told Us Weekly that she doesn’t plan to leave a legacy for her children.

“Honestly, why would you allow your child to not try to be anything? I don’t know anyone who becomes anything if they just get money,” Osmond told the tabloid. “To me, the greatest gift you can give your child is the passion to discover who they are inside and to work. I mean, I’ve done so many things designing dolls [and much more]. i love to try [and] I want to try everything. I’m a finisher.”

By contrast, Inheritances “breeds laziness and entitlement,” she added, noting that she plans to spend the money she earned with husband Stephen Craig, who she married twice.

Osmond expressed similar views about leaving wealth behind in 2020 on “The Talk,” saying she thinks inheriting large sums does children “a terrible disservice.” At the time, she said she planned to donate her fortune to charity.

Warren Buffett’s advice

The late actor Kirk Douglas also donated most of his $61 million fortune to charity when he died in 2020, according to Fox Business. The Douglas Foundation, the charity he co-founded, focuses on more equitable access to education, health care and the arts. The foundation has granted over $118,000,000 to more than 200 organizations since its inception.

English musician Sting, whose wealth has been estimated at $300 million, has also spoken publicly about the disadvantages of children inheriting their parents’ wealth, saying his own children will inherit little of what he has earned.

“I told them there wouldn’t be a lot of money left because we’re spending it. We have a lot of commitments. What comes in, we spend, and there’s not much left. I certainly don’t want to leave them trust funds. they’re albatrosses around their necks. They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate,” he told the Daily Mail in 2014.

Warren Buffett, who has long pledged to give more than 99% of his wealth to charitable causes, also said his children would only inherit a small portion of his fortune, which Bloomberg now values ​​at $111 billion. of dollars. As the famed investor wrote in 2021: “After many observations about super-rich families, here’s my recommendation: leave the kids enough so they can do anything but not enough so they can’t do anything. make.”

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