Sting said he plans to spend most of his money before he dies, and his six kids will NOT be getting huge trust funds.
“I told them there won’t be much money left because we are spending it!” he told the Daily Mail over the weekend. “We have a lot of commitments. What comes in we spend, and there isn’t much left.”
The Grammy-winning singer-songwriter, 62, of The Police is reportedly worth $300 million.
“I certainly don’t want to leave them trust funds that are albatrosses round their necks,” he continued. “They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate.”
He said although people make assumptions they were born rich, they haven’t been given a lot and want to succeed on their own merit. “Obviously, if they were in trouble I would help them,” he said, “but I’ve never really had to do that.”
Being a child of a wealthy rockstar must be SO hard.
“With my children there is great wealth, success – a great shadow over them – so it’s no picnic at all being my child,” Sting explained. “I discuss that with them; it’s tough for them.”