People often debate the need for creating financial legacies and passing down wealth to their generations. It is a subject that has gotten many references in pop culture, and while many who have amassed fortunes in business and entertainment have trust funds for their children, leaving behind millions in their wills, British actor Daniel Craig’s children will not be enjoying his fortune after he passes.
The 007 actor has two daughters, one with ex-wife Fiona Loudon and another with current wife, actress Rachel Weisz, and he recently spoke with Candis magazine where he explained why he will not be leaving behind any money to his children. Entertainment Tonight estimated that Craig may well be worth an estimated $160 million.
“Isn’t there an old adage that if you die a rich person, you’ve failed?” asked the actor. “I think Andrew Carnegie gave away what in today’s money would be about $11 billion, which shows how rich he was because I’ll bet he kept some of it, too.”
“I don’t want to leave great sums to the next generation,” he added. “I think inheritance is quite distasteful. My philosophy is, get rid of it or give it away before you go.” Craig isn’t the only celebrity who has decided that his children won’t receive their fortunes; Gordan Ramsey, Sting, and Simon Cowell have also reportedly vowed to leave little to their kids if anything at all.
Craig, 53 will be starring in his last Bond movie when James Bond: No Time To Die releases in theatres from September 30. He took over from Irish Actor Pierce Brosnan in 2006, appearing in Casino Royale, Quantum of Solace, Skyfall, Spectre and now No Time To Die.
What’s your take on the actor’s decision and the subject in general?