Sir Elton John won’t let his sons inherit his $280 million fortune

Sir Elton John has revealed that he will not be leaving his $280 million (£200m) fortune to his sons, Zachary, five, and three-year-old Elijah. Instead, the musical legend said he will only be leaving them a small portion of the cash in order that they grow up understanding the value of money. The 68-year-old and his husband David Furnish are currently in the process of drafting their wills.

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.

Sir Elton John

Sir Elton said that although his sons live ‘incredible lives’, he makes sure they learn the meaning of hard work by helping out with chores around the house. Furnish, meanwhile, revealed that the couple have been inspired by American business magnate Warren Buffett, who is leaving half his £53billion fortune to charity. He said: “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. Anything beyond the basic, they have to go out and earn it themselves.”

The greatest joys, everything Elton and I have created, have come from hard work and that’s where your self-esteem comes from.

David Furnish

Elton John