Strollerderby

Wealthy TV Chef Says Her Kids Must Work for Money

Posted by Madeline Holler

Hot British celebrity cook Nigella Lawson, who has more money than God thanks to her upbringing, her commercial success and her marriage to a super rich ad man, says none of her wealth will be passed on to her two kids, Cosima and Bruno, now 13 and 11. None of it. They'll have to get out there and work if they're going to maintain the lifestyles of children whose parents are, as described above, extremely wealthy.

My first thought is, damn, what a meanie! But then if I spend two seconds reflecting on the not terribly meaningful lives of those who become entitled to their parents' riches, like Paris Hilton, Nicole Richie, the Greek tycoon's kids ... you know where this is going, all those aimless poor little rich kids ... and I think, damn, what a favor!

She has a combined wealth with her second husband, marketing guru Charles Saatchi, of more than $218 million. Alone, she's thought to be worth more than $30 million. But when she dies, she says not a penny of it will go to the kids.

From the Daily Telegraph:

Asked what she hoped the children would learn from her, Miss Lawson told the magazine My Weekly: "To know that I am working and that you have to work in order to earn money. I am determined that my children should have no financial security. It ruins people not having to earn money.

Interestingly, her hubby, Lawson's kids' step-dad, doesn't agree. And he has a 12-year-old daughter from another marriage who will get a windfall when papa's gone. Hmmmm. There's an interesting dynamic.

So all of you readers who are worth $30 million, will you leave any of it to your children? What about those of us with lesser means? Will you bequeath your over-mortgaged estate to the kids? Is Nigella being stingy or smart? I mean, it's not like they're going to have to work shitty jobs -- ever.


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Comments

 

diera said:

I believe Nigella should leave her wealth to me.  After all, I am an adult, have obtained a sound education, and have supported myself for a good many years now, so I'm not going to be ruined.  I would be a much safer bet than her children.

Seriously though, I'm not sure *all* rich kids get ruined, obviously the ones who are living good and meaningful lives aren't the ones who get in the papers all the time for constant partying or being arrested.  However, most kids don't get giant fortunes either, so I don't think it's horrible for her to refuse to leave them the money.  I just hope she's teaching them the right values now so that when the wealth spigot stops flowing they're able to cope.

January 29, 2008 9:50 AM
 

Wealthy Mom said:

I was raised with the knowledge that when I turn 35 I will inherit around 20 million dollars. I was also raised to know with privilege (the money) come responsibility. My whole extended family belongs to our family foundation, and we give away millions of dollars a year. I believe the Paris Hilton’s of the world are the exception, not the rule when it comes to wealth. I also feel Nigella is doing a disservice to her children, especially because of the other kid who IS going to inherit a large amount of wealth. That is going to cause some disharmony in the family.

If Nigella really wanted to help her children she could teach them, as my parents did, a work ethic, a philanthropic passion and how to be kind, and her kids would be amazing, rich or poor. Look at Ivanka Trump: that girl really seems to have a head on her shoulders, just as her brothers do. Trump is such a douche bag, but at least he and his wives have raised their kids right, even though they know they will inherit big bucks in the future.

So instead of cutting off the kids and expecting them to make their own way with no help, Nigella and her husband should speak more about giving their money away to those less fortunate and mentor their kids by showing how they themselves made their money, and give their children all their tools for the future, which includes some inheritance. You know how they say guns don’t kill people, people kill people? Well money doesn’t ruin you, parents ruin you. So with good parenting, those kids should be just fine, money or no money.

January 29, 2008 9:56 AM
 

Lisa said:

Me me me me me!!!  Give it to me!  

All that aside, I actually think what she's doing is wise.  It's not like her children are suffering right now.  Clearly they're experiencing the benefits of her success and wealth and hopefully will learn from it.  So many of these rich kids get seriously screwed up.  I think she's aware of that.  Actually, I think I read that her family lost their fortune when she was younger so perhaps this springs from this fact.  I dunno.  

Even Bill Gates has said that he is only giving his children a small amount (relatively speaking) when he passes on.  I don't think leaving your children vast amounts of money insures anything.  They seldom know how to manage it and often end up squandering the lot.  Better to prepare the kids and let them know up front what will be expected of them so they learn the ropes.

January 29, 2008 10:02 AM
 

Amy Kuras said:

Those kids are hardly going end up taking out student loans and working at 7-11 to make ends meet and pay their own way at a third-rate college. And it's not like Nigella did not benefit enormously from family connections, as  her children certainly will. So I do not weep for them--there are plenty of ways to benefit from being from wealth that they will certainly enjoy and have nothing to do with dollars and cents. That said, c'mon, Nigella, promise them a down payment on a house or SOMETHING.

(I adore Nigella, she's totally my idol, but she does overplay the "just a regular working mom" angle. I watched a recent episode of her show that showed her taking the bu somewhere. Yeah, THAT happens).

January 29, 2008 10:24 AM
 

LeighS said:

Interesting. I would leave money to my daughter (and probably will one day) but it won't be just a cash or real estate pay out. It will come to her when she gets older, say 35 or so, or used when she is younger only for education, be it college, art school, yoga training, whatever. And, yes, she can sure send some to me!

January 29, 2008 10:39 AM
 

Sheri said:

I agree with Wealthy Mom.  My parent's certainly weren't rich but I never wanted for anything when I was a kid.  I had some pretty cool toys and nice clothes, but I always knew that I was lucky in that aspect.  At least they will be guaranteed a top notch education and all.  If I were her, I'd also expect a ton of bad feelings between her children and her stepchild.  Whatta mess!!!

January 29, 2008 10:44 AM
 

Mike Adamick (Cry It Out!) said:

Diera should step off, because Nigella is leaving that money to me! me! I always wonder about stories like these (warren buffett said the same about his kids didn't he?). They make the kids think they're getting squat and then, in the end, leave everything to them.

January 29, 2008 12:44 PM
 

cheapskate said:

I appreciate Wealthy Mom's honesty.  I grew up with ridiculously frugal parents (Depression babies) who now find themselves sitting on a medium-sized pile of money, which they plan to leave in trust to my kids, and I worry about what that will do to them.  I will suggest to my parents that they get it at 35, not 21, so they get themselves established and work a day or two first.  And, incidentally, there's nothing wrong with working at a shitty job for a year or two.  I did it, and it gives you a taste of real life.

January 29, 2008 1:27 PM
 

MissB said:

I don't know what everybody's problem is.  Brandon Davis seems like such a nice boy!

January 29, 2008 2:14 PM

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