Last updated: Monday, October 6, 2008

LLOYD WEBBER SNUBS KIDS IN WILL

Theatre impresario SIR ANDREW LLOYD WEBBER refuses to leave his $1.3 billion (GBP750 million) fortune to his children - believing they should earn their own money.

SIR ANDREW LLOYD WEBBER

Lord Lloyd Webber has made a fortune through his compositions in musical theatre and by founding his lucrative production company Really Useful Group in 1977.

But the composer will not be leaving any of his impressive earnings to his five children.

He explains, “They aren't bothered. They don't think that way. It is about having a work ethic – I don't believe in inherited money at all.

“I am not in favour of children suddenly finding a lot of money coming their way because then they have no incentive to work.

“So I will give them a start in life but they ain't going to end up owning the Really Useful Group.”

Lloyd Webber has two children from his first wife, Sarah Hugill; Imogen and Nicholas, and three with third wife Madeleine Gurdon; Alastair, William and Isabella.

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Source: WENN

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