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Why inheritance is out of vogue with the rich and famous

Why inheritance is out of vogue with the rich and famous

Watch out kids. Daniel Craig is just the latest celebrity to claim he won’t be leaving his fortune to his daughters.

Mark Zuckerberg has committed to giving away 99 per cent of his wealth to “advance human potential”. Simon Cowell has made clear he wants his multimillion-pound fortune to go to “kids and dogs”. Meanwhile, legendary US investor Warren Buffett – determined that the vast majority of his hundred-billion-dollar-plus fortune goes to his five charitable foundations – is believed to be half-way towards his goal.

The largesse is undeniable, but it can come to the detriment of others – namely, their children.

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The Telegraph London

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Original URL: https://www.afr.com/wealth/people/why-inheritance-is-out-of-vogue-with-the-rich-and-famous-20210819-p58k0t