Warren Buffett is one of the richest people in the world. With an estimated net worth of $65.1 billion, one might think that his three children will inherit insane amounts of money after his death – but that is not the case. This successful business magnate will leave 99% of his wealth to charity and he is not the only rich guy to do that. Here are some other famous people who will not leave their fortune to their children.

Sting

 

 

 

 

 

 

In an interview with England’s Mail on Sunday newspaper, Sting said that he wasn’t planning on leaving any trust funds for his children. He has been telling his kids that there won’t be much money left when he is gone because they are spending everything they have right now. “I told them there won’t be much money left because we are spending it. Obviously, if they were in trouble I would help them. But I’ve never really had to do that. They have the work ethic that makes them want to succeed on their own merit,” he explained.

Simon Cowell

 

 

 

 

 

 

X Factor judge, Simon Cowell has spoken out on his thoughts of leaving an inheritance to children. Right before the birth of his son Eric in February of 2014, Cowell told the Mirror that he doesn’t believe of the passing of wealth from one generation to the next. He continued to tell the newspaper that he plans on leaving his fortune to a charity of some type, probably ones that help animals and children. Cowell stated that he believes a legacy “has to be that hopefully you gave enough people an opportunity, so that they could do well, and you gave them your time, taught them what you know.” The TV producer has a net worth of $425 million.

Jackie Chan

 

 

 

 

 

 

The 60-year-old actor has said that he will leave his wealth to charity, and none of it to his son, Jaycee. Jackie made it public at an awards ceremony. In 2011, he said: “If my son is capable, he can make his own money. If he is not, then he will just be wasting my money.” Chan is a UNICEF Goodwill Ambassador, campaigns against animal abuse and started the Jackie Chan Charitable Foundation, which supports education and disaster relief.

Nigella Lawson

 

 

 

 

 

 

This celebrity chef won’t be handing over her $25 million fortune to her three kids when she dies.  “I am determined that my children should have no financial security,” she was quoted as saying. “It ruins people not having to earn money.” But she denies that they’ll be cut out of her will entirely, saying she has no plans to leave them destitute and starving.

Philip Seymour Hoffman

 

 

 

 

 

 

The actor passed away unexpectedly this past February from drug intoxication. Hoffman left behind his son Cooper, 10, and his two daughters, Tallulah, 7, and Willa, 5. The New York Daily News recently reported that Hoffman was continually advised by his accountant on setting up a trust fund for his children in case anything should ever happen to him. However, Hoffman repeatedly denied the request and instead opted to leave everything of his to his girlfriend and mother of his children, Marianne  O’Donnell.

Gene Simmons

 

 

 

 

 

 

A few years back Simmons told CNBC that when it comes to leaving an inheritance for his two children, he will leave them a small amount, but he stated that his children will never be rich off of his money. He said that “… in terms of an inheritance and stuff, they’re gonna be taken care of, but they will never be rich off my money. Because every year they should be forced to get up out of bed, and go out and work and make their own way.”