One of the wealthiest musicians in Britain, Sting won’t be leaving behind trust funds for his children, believing it could be “albatross” for them. Normally, kids inherit their parents or ancestors’ wealth as a fortune. However, it seems like Sting’s kids must be ready to work to make their living, and the musician has a reason for not leaving trust funds for them.
Here’s why one of Britain’s wealthiest musicians, Sting, won’t leave trust funds for his kids.
Musician Sting and his wealth
Gordon Matthew Thomas Sumner, popularly known as Sting, is a well-known musician and activist in Britain. His profession as a musician gave him enough success, and that made him a wealthy person as well.
In fact, Sting was the ninth richest musician in Britain and Ireland as per the Sunday Times Rich List of 2013. This clearly indicates how much net worth Sting must have had. But do you believe all this wealth could be inherited by his children? Yes, but Sting won’t be doing so, and he’s a reason for the same.
Sting must have around £180 million or more worth of wealth that he could have legally given to his six children. But that’s not how those would be inherited by his kids. Sting has made it clear to his kids that they won’t be getting the trust funds, which clearly means they need to work to create their own fortune.
Why won’t musician Sting be giving trust funds to his children?
Musician Sting has turned 72 years old, and those years have been quite fruitful for him as well. Not only did his music make him popular around the world, but it also made him one of the richest musicians in Britain. But the shocking part about his wealth distribution is that his kids won’t be inheriting it.
Sting believes the trust funds left behind for his children would be “albatross” for them. In an interview with the Mail, Sting revealed that he told his kids not to expect trust funds from his wealth to be inherited because he doesn’t believe in giving them.
He said, “I told them there wouldn’t be much money left because we’re spending it. We have a lot of commitments. What comes in, we spend, and there isn’t much left. I certainly don’t want to leave them trusting funds that are albatrosses round their necks. They have to work.”
Opening up about whether his kids were born with a silver spoon, Sting told the media outlet, “People make assumptions that they were born with a silver spoon in their mouth, but they have not been given a lot.”
For those unaware, Sting has a total of six children, two are from his previous relationship, namely Joseph and Kate; the other four are Brigitte, Jake, Eliot, and Giacomo, who are from his second marriage. Not to miss: Apart from being a successful musician, Sting has also been an activist, having worked for some good causes.