How Do Millionaires' Children Live (and Why They Don’t Follow in Their Parents’ Footsteps)

In total, there are about 36 million millionaires in the world, which makes up 1% of the total population of the Earth. They own more than half of the world’s wealth. It is this 1% that we think of when we hear about the worldwide success of a 20-year-old designer or an actor and think: “Their family must’ve helped them.” Well, in most cases, that’s exactly how it is.

We decided to tell you how the children of parents who are among the richest and the most famous people live and how they manage their parents’ fortune.

Ben Ford

Harrison Ford’s son never dreamed of acting glory — his goal was the Red Michelin Guide. Therefore, having become an adult, Ben opened his own restaurant in Los Angeles and wrote a recipe book. He did get some support from Harrison, as he participates in his son’s charitable actions. For example, he prepares food for the homeless.

Ben got his passion for cooking because of Harrison. One day, his family went on vacation to Hawaii where the boy saw a whole pig being roasted on a spit. It seemed very unusual to him. And in 1999, Ben opened his first restaurant, where he offered customers a whole fried animal. At that time, it was the only place of this kind in California.

Isabella Cruise

 

Isabella — Tom Cruise’s and Nicole Kidman’s adopted daughter left America and lived in London after her parents divorced. Upon completing her studies at the Vidal Sassoon Academy, Isabella became a hairdresser, but she tried to never use the names of her famous parents in her work.

Now Isabella decided to assert herself and launched a line of T-shirts with prints (one sells for $85) which she draws herself. The designer has plans to develop her own clothing line.

Chaz Bono

 

Chaz Bono was born a girl whom her parents named Chastity. In 2008, Chastity decided to go through the process of changing genders. Chaz tried himself in music, recorded an album, but realized that it was not his cup of tea and became a lawyer. The realization that he is not like everyone else came to him at the age of 13. Later, Chaz published a book called Family Outing, where he told about his experiences.

Now he is actively engaged in many social activities, defends the rights of the LGBT community, and publishes books on this topic. In addition, Chaz tries himself in the acting profession. For example, in 2017, he starred in the seventh season of the series American Horror Story.

Jaden Smith

The eldest son of the Smiths’ family, Jaden, continued his father’s acting career: together with Will, he starred in the films The Pursuit of Happyness and The Day the Earth Stood Still. Without his father, Jaden earned $5 million for his participation in the film The Karate Kid.

At age 20, young Smith started receiving considerable income from selling things through his own brand, as well as for his performances. Like his family members, Jaden spends a portion of his money on charity. For example, fighting AIDS in Zambia.

Jaden can easily be called an independent guy who has already learned how to earn money. In late 2017, he released a solo album named SYRE, and in 2018, he starred in the film Life in a Year with Cara Delevingne.

Kendall Jenner

This compilation would not be complete without the Kardashians. Kendall is Kim’s younger sister. When she was still a child, she participated in the reality show Keeping Up with the Kardashians, and now she has many photo shoots plus fashion and TV shows on her record. Kendall tries not to depend on her family’s money and earns her own squarely.

By the way, Kendall sells her clothes on eBay and donates the money to one of the children’s hospitals in Los Angeles.

What would you do if you inherited a multi-million dollar fortune?

Petra Ecclestone

 

The daughter of a renowned businessman, president of the FOM and FOA, and an ex-Formula 1 driver, Bernie Ecclestone, Petra isn’t used to having any kinds of limits. She bought an $85 million mansion in Los Angeles with her father’s money.

Petra produces clutches from python and crocodile skin under her own brand Stark, but there is no saying that the girl does not depend on her parents’ money. She dreams of starting her own business and even studied at Central Saint Martins, a famous fashion college in London.

 Dan Bilzerian

Dan, the son of convicted broker and owner of $40 million Paul Bilzeryan, spends his wealth on poker and gambling. For example, he spent $100,000 on Power Ball lottery tickets (one ticket is $2) and he didn’t win anything.

Dan organized the “Victory Poker” poker room and has participated in filming The Salvation in 2015 and War Dogs in 2016.

BREAKING: FG Withdraws `No Work No Pay' Threat, As ASUU Negotiations Resume Today

The 'No Work, No Pay' threat that was served to the Vice Chancellors of striking universities by the Federal Government has been withdrawn.

The National President of the Academic Staff Union of Universities, ASUU, Prof. Biodun Ogunyemi has said during an interview with pressmen late Sunday.

Scooper reported Friday that FG had directed the vice chancellors to withhold payment for all striking members of ASUU stressing that payment by whatever form will constitute a flagrant violation of the order.

The  memo delivered on behalf of the President by the NUC Director of Research, Information and Technology S.B Ramon-Yusuf, said “In view of the current Industrial action by the Academic Staff Union of Universities (ASUU), the federal government has directed that there shall be no payment of any form of salaries and allowances to the staff on strike in federal and inter-varsity centers.

“Consequently, I am to direct the Vice-Chancellors to apply the “No-work-no-pay” rule. However, Universities and inter-varsity centers are to pay salaries and allowances to Non-teaching staff.

However, Ogunyemi said the threat has been withdrawn, given that negotiations between the both parties will resume today.

According to him, "Well, we have confirmed that they have withdrawn that threat (no work no pay). So it appears the threat is not there for now. But even if the threat is there, we are prepared for that because for our members, no sacrifice is too much to salvage Nigeria’s education.

He added, "Shortly before our action while the NLC (Nigeria Labour Congress) hullabaloo was going on with federal government, they went to the Federal Executive Council that they were activating that rule.”