Sting Declares: No Trust Funds for My Kids!
He began life in a humble shipbuilding town called Wallsend on Tyneside and Sting worked hard to become the multi-millionaire he is today.
Worth around $300 million, the 62-year-old musician’s musician told Mail on Sunday that he won’t be setting aside large sums of money for his six children when he dies.
"[I 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 appreciate. Obviously, if they were in trouble I would help them, but I've never really had to do that. They have this work ethic that makes them want to succeed on their own merit."
Sting continued, "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."
“They need to have a sense that their own work is meaningful and important. You’ve got to make sure they have a sense of their own ability and what they’re going to go and do.”