Search AOL Mail
AOL Mail
AOL Favorites

Sting says kids won't inherit his $306 million fortune

Sting Says Kids Won't Inherit His $306 Million Fortune

Sting's first hit as a solo artist was "If You Love Somebody, Set Them Free," and, apparently, that's the philosophy the musician has when it comes to his kids and money. In a new interview with the Daily Mail, the 62-year-old rock star confessed he's not planning on leaving his estimated $306 million fortune to his six children.

‚Äč"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." The rocker went on to say his children barely ask him for anything anyway. They're all older than 18 and have strong work ethics.

And don't worry - Sting and his wife of 21 years, Trudie Styler, don't spend all the money on themselves. According to CBS a large chunk of it goes toward their charitable work, which they told Katie Couric in 2010 focuses on saving the rainforest. Plus, Entertainment Tonight reports the couple employs more than 100 people.

And as the 'Today' show points out, Sting and Trudie aren't alone in this type of decision. Yes, Bill Gates has pledged most of his $76 billion-fortune to The Bill and Melinda Gates Foundation. And Warren Buffett did give his children billions, but they have to invest it into their own charitable causes.

They've inspired other "one-percenters" to do the same. Gates and Buffett started The Giving Pledge in 2010, a campaign to encourage the wealthiest people in the world to make a commitment to give most of their wealth to philanthropic causes. Big names like Richard Branson, Michael Bloomberg, Mark Zuckerberg and Spanx creator Sara Blakely have all made the pledge.

Join the discussion

1000|Char. 1000  Char.
Buckingham's June 23 2014 at 12:09 PM

The kids just got "stung". Thanks a lot, dad.

Flag Reply +21 rate up
5 replies
tartufo72 June 23 2014 at 12:36 PM

"It's easier to fool people than convince them that they have been fooled."
- Mark Twain
These people "donate" their wealth to generate more of it, and do so while avoiding taxation. They are also influencing and changing political policy which is destructive to the general public / population who ironically enough are funding it as the taxpayer! This is hardly admirable. Go to guidestar.org and investigate tax exempt IRS 990 forms. Provides how much money they have, grant recipients, names of donors and a list of companies with whom they invest. Not all foundations are corrupt but most mentioned in this article influence public policy and deserve close scrutiny. Don't be fooled that it is "selfless generosity."

Flag Reply +16 rate up
2 replies
gway1958 tartufo72 June 23 2014 at 4:53 PM

Thats no secret and never has been...those with the money have the power and those with the power RULE...always been that way.

Flag Reply +5 rate up
1 reply
daxcess2 gway1958 June 23 2014 at 8:10 PM

And will always be. There will always be smarter people, better looking people, stronger people and people who are better at sports. No matter who or what you are, eventually someone will be better at what you do than you are. The biggest ape gets to mate with all the lady apes, the biggest bear gets the best food, the tallest giraffe eats the highest leaves and the queen bee gets waited on her whole life. Why should the human species think they are any different? Because we think? Baloney. Faced with starvation there's not one among us who would beat the other person silly, or worse, to get that tiny bit of food.

Flag 0 rate up
moose tartufo72 June 23 2014 at 9:14 PM

The big difference between Sting and the others mentioned is that Sting actually does use his money and status to save the rainforests around the world. He has done so for the last 30 years, working hard at saving the rainforests and all it's life forms as well as educating the poor people of the rainforests. Sting actually does what he says and he makes a big difference. Now , if all the other wealthy people would do the same in saving and protecting our beautiful planet including all the wonderful and precious animals that inhabit it. What a utopia we could create and enjoy.

Flag Reply +5 rate up
Deborah June 23 2014 at 12:06 PM

What a joke. Bill Gates knows he can't spend it all and a foundation where they write everything off is just to avoid taxes and estate Taxes. He has it written into the foundation his kids get hugo salaries. Who do these linberal big mouths think they are kidding?

Flag Reply +15 rate up
11 replies
Lisa June 23 2014 at 12:36 PM

My husband's uncle, Bill, had over a million dollars in the bank when he died. In his will he asked that this money be used to help pay for college tuition's of family members. Each student gets the same amount per year. If a school cost most than what is allotted, the student has to make up the difference. The money is always earning interest. The account is actually larger now than at the time of Bill's death. This money will help his descendents and will not be wasted on excess.

Flag Reply +14 rate up
2 replies
Kate Lisa June 23 2014 at 8:11 PM

That was very intelligent of him-- a well thought out plan.

Flag Reply +2 rate up
cact25 Lisa June 23 2014 at 10:20 PM

The kids will learn something this way.

Flag Reply +2 rate up
Neil June 23 2014 at 1:59 PM

a trust fund would be an albatross around the kids neck?! I would like a double order of albatross, please!

Flag Reply +13 rate up
2 replies
Apple Neil June 23 2014 at 4:47 PM


Flag Reply +2 rate up
FRANK Neil June 23 2014 at 10:11 PM


Flag Reply 0 rate up
aristocat101 June 23 2014 at 12:43 PM

Give to animals, they need it and deserve it, use some of it to stop the dog meat festival in China going on now. They torture and kill these animals to eat, they are eating pets, cats and dogs alot of them were taken they had collars on they belonged to someone, use the money to do good.

Flag Reply +9 rate up
3 replies
craigposter June 23 2014 at 6:18 PM

Great story. Maybe he would like to help a little boy with some of that. We posted Matthews story on over 60 different webpages and not one person opened their hearts to help us. Just a shame we donate to save the trees, feed another country, but Americans wont help a child like Matthew, who really needs it. All the local news channels were also written to, without response. University of Michigan - Survival Flight saved his precious little life, and have reached out to the community to help us with. He has extensive medical equipment and treatment needs which financially are more than we can handle alone. Please share this with your friends on your Facebook pages for us and if you can donate to our cause. Please visit www.help4matthew.myevent.com Thank you.

Flag Reply +8 rate up
3 replies
Mike June 23 2014 at 1:00 PM

His kids call him Sting-y.

Flag Reply +7 rate up
1 reply
fjludu Mike June 23 2014 at 4:07 PM

Bet he gave them a lot growing up.

Flag Reply +1 rate up
2 replies
Apple fjludu June 23 2014 at 4:48 PM

Unless you were there we don't know that! Sometimes it is the very opposite of what you assume!

Flag +1 rate up
Diane fjludu June 23 2014 at 5:39 PM

Yes, he sure did---he gave them responsibility, taught them how to work hard & be successful on their own without living off their father's money. That is a priceless lesson.

Flag +1 rate up
dwtomczyk June 23 2014 at 2:27 PM

he could give me some

Flag Reply +4 rate up
2 replies
flhx14 dwtomczyk June 23 2014 at 4:59 PM

me too

Flag Reply +3 rate up
1 reply
cact25 flhx14 June 23 2014 at 10:22 PM

You people are losers.

Flag +3 rate up
cact25 dwtomczyk June 23 2014 at 10:22 PM

Why should he? Work and earn a living.

Flag Reply +3 rate up
1 reply
Thomas cact25 June 23 2014 at 11:56 PM

Marry a rich woman. Just make sure you not ashamed to be in public with her though.

Flag 0 rate up
ramonbatt June 23 2014 at 12:27 PM

Good for them. We have some billionaires that giving is a sin!

Flag Reply +3 rate up
1 reply
BLow ramonbatt June 23 2014 at 3:09 PM

Name one.

Flag Reply 0 rate up
aol~~ 1209600


More From Our Partners