Gordon Ramsay will not leave his fortune to his kids

Is Ramsay being mean to his kids - or just being sensible?

Gordon Ramsay won't leave money to kids

Chef Gordon Ramsay has decided not to leave his cash to his four kids when he dies. It reflects the relatively tough line he has set for them during their childhood. They often don't get to eat out in nice restaurants, and they never fly first class: they "haven't worked anywhere near hard enough to afford that", he told the Telegraph.

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He will certainly have plenty of cash to pass on - given that last year alone Forbes estimates he made £44 million. He also has an impressive property portfolio including homes in London and Malibu - plus a £4.4 million holiday home in Cornwall - which last year he was given permission to demolish in order to build two more down the bottom of the garden - closer to the sea.

His eldest daughter, Megan, is at university and gets £100 a week. The other teenagers get £50 a week, so they learn to manage their own money. He has agreed to set the kids up with a 25% deposit on a flat, but not a whole flat, and when he dies, he says of his fortune, "It's definitely not going to them, and that's not in a mean way; it's to not spoil them."

His approach seems to be working. At the age of 13 his youngest daughter Matilda (now 15) already had her own cookery show and blog for CBBC.

Not alone

He is far from the first celebrity to decide that inheriting cash would be bad for the kids. He's not even the first celebrity chef to refuse to leave his money to his children - as Nigella Lawson has also said her children won't get a huge inheritance from her.

They join a legion of celebs who have decided their kids need to stand on their own two feet - including Bill Gates, Sting, Jackie Chan, Dame Joan Bakewell, Andrew Lloyd Webber and Duncan Bannatyne.

In each case they have made it clear their decision is designed to encourage their children to develop a work ethic, make their own way in the world, and appreciate the value of money properly - rather than having everything handed to them on a plate.

It's a laudable notion, and one that takes on particular meaning when you see how some rich offspring have chosen to spend their lives. But what do you think? Would you take such a strong line with your kids? Let us know in the comments.

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