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Sting Says His Six Children Will Not Inherit £180M Fortune

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http://www.theguardian.com/music/2014/jun/22/sting-six-children-not-inherit-180m-fortune

Sting has revealed his children will not inherit his £180m fortune, fearing that his riches are "albatrosses round their necks".

The former frontman of The Police grew up in a working-class family in Wallsend, North Tyneside, and has gone on to become one of Britain's wealthiest musicians.

But in an interview with the Mail on Sunday, he said he has told his six children not to expect to inherit much money because he doesn't believe in trust funds.

He said: "I told them there won't be much money left because we are 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 trust funds that are albatrosses round their necks. They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate."

The dilemmas of the rich.

What sort of commitments can you have that needs £180m?

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http://www.theguardian.com/music/2014/jun/22/sting-six-children-not-inherit-180m-fortune

The dilemmas of the rich.

What sort of commitments can you have that needs £180m?

Don't know, he flies about in private jets and concorde a lot doesn`t he, talking about saving the planet. Somehow I imagined Sting being worth more than that. Saw an interview with Buffet (worth how many BILLIONS?) Where he said that leaving masses of money to kids (his must be getting on?) just ruins them, and that in his opinion leaving a child 50,000 dollars is just the right amount to give them a start, but to also incentivise them to go out there and make their own.

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Tuscany villa being rented out last I heard: http://www.telegraph.co.uk/news/worldnews/europe/italy/10079482/Sting-opens-up-his-Tuscan-villa-at-a-price.html

Wary of wealth saying kids won't be treated special. Old woman with £2m+ London property portfolio was telling me- tells me she and her fellow landlords "give a lot to charity." It sounded like a mechanism to wrong-foot you.

He has recently put his sprawling nine-bedroom townhouse, which is just a stone's throw away from Buckingham Palace, on the market for £15m.
Maybe he won't have much money left. What other property investments?
New York Times 2012
Today journalists routinely take aim at her high-consumption way of life, one that encompasses not just the half-dozen homes (one of which is an 800-acre estate in Wiltshire, England) but a personal entourage including a chef, a private secretary and a hairdresser who travels with her everywhere.

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Tuscany villa being rented out last I heard: http://www.telegraph.co.uk/news/worldnews/europe/italy/10079482/Sting-opens-up-his-Tuscan-villa-at-a-price.html

Wary of wealth saying kids won't be treated special. Old woman with £2m+ London property portfolio was telling me- tells me she and her fellow landlords "give a lot to charity." It sounded like a mechanism to wrong-foot you.

Maybe he won't have much money left. What other property investments?

New York Times 2012

Wouldn`t mind a personal chef, it would save me buying Pot Noodles, but business class and a 0.5 buzz cut will do for the rest.

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Going out and making it on your own is cr4p and is vastly over rated ... working in a job you dont like as most people do crushes your spirit and doesnt build character. For someone who must have seen the mundane lives of men working in Wallsends shipyards he should be aware of this.

I'd be a far better and happier person with 1/6th of 180 million quid and would be able to do so much more righteous stuff to create the illusion of self worth/importance.

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Sting is a complete loser of a ****.

Nothing else to say

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Classic interview of paxmans and sting, paxo-"what about your carbon footprint"? Sting-"it's a diversion to accuse celebrities of the ecological problems being created" paxo-"we are not accusing you of creating the problem, we are accusing you of being a hypocrite" classic

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Classic interview of paxmans and sting, paxo-"what about your carbon footprint"? Sting-"it's a diversion to accuse celebrities of the ecological problems being created" paxo-"we are not accusing you of creating the problem, we are accusing you of being a hypocrite" classic

Hey Paxo, play three notes on a bass and sing at the same time without people leaving the room , or f*uck off.

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I'd say it's a soundbite. He'll leave them enough so that they never have to do any work that they don't enjoy.

To voluntarily force your kids to endure the ultimately pointless stresses of the workforce, when you could allow them to be free and safe all their lives, is cruel.

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"Normal is getting dressed in clothes that you buy for work and driving through traffic in a car that you are still paying for - in order to get to the job you need to pay for the clothes and the car, and the house you leave vacant all day so you can afford to live in it."

- Ellen Goodman

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Lost a lot of respect for sting and his wife after they tried to screw over their english cook, she got pregnant and so they fired her, the cook took them to a tribunal and won, they appealed (doubling up the legal costs) and the cook won again, but she only got £25K and was still out of a job.

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Does he have an Aga?

You think that might be where his money's all going?

I agree with him about not leaving his kids a fortune but I see nothing wrong with buying them each a house and car and then setting up a trust fund that will pay them an indexed £50k a year each. That way they are comfortable for life but not so awash with cash that they won't bother doing something with their lives.

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You think that might be where his money's all going?

I agree with him about not leaving his kids a fortune but I see nothing wrong with buying them each a house and car and then setting up a trust fund that will pay them an indexed £50k a year each. That way they are comfortable for life but not so awash with cash that they won't bother doing something with their lives.

House and car and £50k a year sounds like awash enough with cash to not want to bother doing anything.

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For the last 35 years, he has only known success, so I bet he thinks it is easy to make millions and millions. He wants his kids to achieve something similar and this little statement is something to spur them on.

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Classic interview of paxmans and sting, paxo-"what about your carbon footprint"? Sting-"it's a diversion to accuse celebrities of the ecological problems being created" paxo-"we are not accusing you of creating the problem, we are accusing you of being a hypocrite" classic

Sorry mate, but this is THE classic interview with Sting...

XYY

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Surely if you had that kind of money the best thing would be to tell them you bought everything on credit and that they barely stand to inherit anything.

Then gift them all their inheritance when they turn 30. That way it will be a nice surprise and won't have demotivated them early in their life/career.

I'd like to say "perhaps that's what he's doing".. but given it's sting I doubt it.

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