Elton John Plans To Give Away His Fortune, But Not To His Children
Elton John is one of the most iconic musicians of all time, with a career spanning several decades and a long list of hit songs that have become classics. However, despite his immense wealth, he has decided not to leave any of it to his children.
This decision has raised eyebrows and caused much debate, with many wondering why the musician chose this course and where the money will ultimately go.
Introducing: Reginald Kenneth Dwight
Elton John was born Reginald Kenneth Dwight on March 25, 1947, in Pinner, Middlesex, England.
He grew up in a working-class family, with his father serving as a flight lieutenant in the Royal Air Force and his mother working as a homemaker.
Elton John Was Always A Music Lover
From a young age, Elton showed an aptitude for music, playing the piano and singing in his local church choir.
At the age of 11, Elton won a scholarship to the Royal Academy of Music in London, where he studied for six years. During this time, he developed his skills as a pianist and began to write his own songs. He left the Academy at the age of 17 to pursue a career in music.
The 1960s And Bluesology
In the early 1960s, Elton John joined a band called Bluesology, which backed several popular R&B artists, including Patti LaBelle and the Bluebelles.
In 1967, he began a collaboration with lyricist Bernie Taupin, which would become one of the most successful songwriting partnerships in music history.
Elton John And Bernie Taupin, A Dynamic Duo
Together, Elton John and Bernie Taupin made history.
Together, they wrote a string of hits not only for Elton, but for other artists, including “Don’t Go Breaking My Heart” for Kiki Dee.
His First Album Was A Huge Success
In 1970, Elton John released his first self-titled album, which included the hit single “Your Song.”
The album was a critical and commercial success, and it launched Elton John’s career as a solo artist.
An Epic Stage Presence
Over the next few years, he released a string of successful albums, including “Madman Across the Water,” “Honky Château,” and “Goodbye Yellow Brick Road.”
He became known for his flamboyant stage performances, elaborate costumes, and oversized glasses.
Net Worth: $500 Million
Elton John’s success as a musician has allowed him to accrue a significant amount of wealth.
According to Celebrity Net Worth, his net worth is estimated to be around $550 million. He has earned this wealth through a combination of album sales, touring, and business ventures.
Other Business Ventures
In addition to his music career, Elton John has also been involved in several successful business ventures.
He founded the management company Rocket Entertainment in 1973, which has managed his own career as well as those of other successful artists.
Charity Causes And Donations
In addition to his music and business ventures, Elton is also known for his philanthropic work.
He has donated millions of dollars to charity over the years, supporting causes such as AIDS research, children’s healthcare, and LGBT rights.
Real Estate, Flower Shops, And A Football Club
He has also invested in a variety of other businesses, including a chain of luxury flower shops, a football (soccer) club, and a restaurant chain.
Elton also invested in real estate around the world, including a castle in England and a mansion in Beverly Hills, California.
Zachary And Elijah Are Going To See $0
Despite his enormous wealth, Elton John has made it clear that he does not plan to leave his fortune to his children.
He has two sons, Zachary and Elijah, who were born through a surrogate mother in 2010 and 2013, respectively.
“It [Money] Ruins Their Life.”
In a 2016 interview with the Mirror, he said, “Of course I want to leave my boys in a very sound financial state.”
“But it’s terrible to give kids a silver spoon. It ruins their life.”
2016 Was Not The Final Interview On The Subject
The Mirror interview wasn’t the first time Elton John has spoken up about not leaving his sons with his wealth.
He also spoke to Today, discussing how he is aware his sons are not “normal.”
“They’re Not Normal Kids…”
During the interview with Today, Elton John said, “Listen, the boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are.”
“But you have to have some semblance of normality, some respect for money, some respect for work.”
Elton John’s Partner Agrees With The Decision
Elton John’s partner, David Furnish, agrees with the famed musician.
Furnish spoke up during then Today interview, saying, “The greatest joys — everything Elton and I have created — have come from hard work, and that’s where your self-esteem comes from.”
Where Will The Money Go?
The question remains, where is Elton John planning on leaving his substantial fortune if not to his two sons?
His answer: to the Elton John Aids Foundation, something he explained during a GQ interview.
The Elton John AIDS Foundation
Elton John has consistently expressed his belief in the value of hard work and personal growth, and his desire to instill these values in his children by not leaving them his fortune.
Instead, he has chosen to focus his wealth on philanthropic efforts, particularly through his foundation dedicated to fighting HIV/AIDS.
The Chance To Make Their Own Way In The World
For those fans who are confused about why Elton John would not leave some of his millions to his children, he explained during a 2016 interview with the Mirror.
During the interview, he said, “Anything beyond the basic, they have to go out and earn it themselves. If they want a Picasso, they have to go out and earn it. I think there’s real sensibility in that.”
“It’s Not About Being Mean…”
Elton John expanded on the point, saying, “We’re still working out the details, and it’s about finding the balance.”
“Warren Buffet, the third wealthiest man in America, has a really cool model in that he leaves his children enough money so that they have a house, a car, and all their basic needs covered and cared for so they never need worry. But it’s not crazy, silly, go-wild money so that they could be buying Picassos or private jets.”
Taking Away The Safety Net
Elton John wants his children to be happy and find their own success in the world without having the safety net of wealth to back them when they fall.
According to Elton’s partner, David, the concept of hard work is what they wish to instill in their children.
“Money Can’t Buy Happiness…”
During the 2016 Mirror interview, David, expanded on the point, saying, “The greatest joys, everything Elton and I have created, have come from hard work, and that’s where your self-esteem comes from.”
It sounds like that is exactly what they want for their children.
The Decision Was Not Well Met By Fans
While Elton John has made his reasons known for not leaving his wealth to his children, it’s still not a decision people back.
This decision has sparked controversy and criticism from some who believe that Elton has a responsibility to provide for his children.
Doing What He Thinks Is Best
Fans might criticize Elton John’s decision to donate his fortune to charities instead of his son inheriting the millions.
But the musician believes he is doing what is best for his children, helping them grow and become their own people.