Creator of “Last Ship” musical says his kids won’t have “trust funds that are albatrosses ’round their necks”
With every step they take and every move they make, Sting‘s kids will have to make their own financial way. The singer-songwriter says he doesn’t plan to leave anything for his three daughters and three sons, and that they’re fine with that.
“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,” he said in an interview with The Daily Mail.
“I certainly don’t want to leave them trust funds that are albatrosses round their necks,” added the singer-songwriter, whose semi-autobiographical musical “The Last Ship” premiered last week in Chicago.
“They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate,” added Sting, whose fortune is around . “Obviously, if they were in trouble I would help them, but I’ve never really had to do that. They have the work ethic that makes them want to succeed on their own merit.”
He also says he has no guilt about his fortune, which is estimated at more than $300 million. He said he has more than 100 people on his payroll.
“Why would I feel guilty? It’s not a useful emotion. I use my houses and love having them. I am grateful I have made money,” he told the paper. “I appreciate it because I spent much time without it. I use my money well. I am not a billionaire. I am very well off and I am certainly not complaining. I was not given it. I earned it through hard work and it was hard work. You try singing for two hours, getting on a plane every day. It’s hard, but I love it.”
Watch video of Sting performing “The Last Ship” from his PBS special in February: