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Elton John has revealed that when it comes time to divide up his estimated $400 million fortune, the boys will only inherit a small portion of the wealth.

Elton and his husband David Furnish want to ensure that their sons, Zachary, 5, and three-year-old Elijah, know the value of hard work and don’t want them to take anything for granted.

Speaking with the Mirror, the singer stated, “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 hit record.”

“Before we had the children we just had our lives and we 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.”

He continued: “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.

“… They have to do chores in the house – take their plates to be cleaned, help in the kitchen, tidy their rooms and help in the garden, and each time they do they get a little star to put on these charts they’ve made. They understand they need to do these things, and they enjoy it.”

Elton and David are keen to instill the value of hard work in their boys.

Good on them! I think that is a very wise attitude.

Share your comments below.

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  • Well done! It’s so important to teach kids about hard work abd value of money/reward from young age.

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  • I think this is a fantastic attitude to take. One of my worries is whether I’m installing a good work ethic and community spirit in our kids to help them become independent and happy.

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  • That all sounds remarkably sensible.

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  • I agree with him. He could also stipulate what the moneyhe leaves them is to be spent on. An uncle of mine left money to his grandchildren. He stipulated at up to a certain age that it be held in trust and it was only to be used education and health. It was a very smart move as the childrens’ Mum wanted to use some of the money for something else. Thankfully the trustee he nominated (another relative) wouldn’t allow it. It caused a family split….but too bad.

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  • I agree completely with what Elton John said!

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  • I think that’s great. Good on them.

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  • Good on them. A very wise and responsible way of parenting

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  • Good to see some great parenting

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  • Lke it

    Reply

  • A wise stand to make. Nothing worse then spoilt brats born with a gold spoon in their mouth. I’m sure they will be well provided for regardless and hopefully be better people thanks to their upbringing

    Reply

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