Why I Won’t Be Leaving My £200m Fortune For My Sons Only- Elton John

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The 68-year-old singer, Elton John has revealed why he won’t
be leaving his sons every penny of his estimated £200million fortune. Instead
the star and his husband, David Furnish, have said the boys, Zachary and
Elijah, must stand on their own two feet.
“Having children changed everything about my life. I’ve
learned that the simplest things in life like having a minute with them are
worth more than any painting, any photograph, any house or any hit record.
“Before we had the children we just had our lives, and would
spend money because we didn’t have anything else to focus on. We have really
toned things down because we have enough stuff. There is nothing else we need.”
“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,” Sir Elton said.

The couple are currently drafting their wills and David
cites US tycoon Warren Buffett, who is leaving half his £53billion fortune to
charity and considerably less to his children, as their inspiration.

He says: “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. The greatest joys, everything Elton and
I have created, have come from hard work and that’s where your self-esteem
comes from,” David said.

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