Depending on how you look at it, it’s either great…or terrible…to be one of Gordon Ramsay’s children.
It turns out that the celebrity chef, who is about as ubiquitous as anyone on television these days, is definitely “old school” when it comes to the matter of raising kids in a climate of great wealth.
It is not so unusual to find highly-successful parents assuming either of two, oppositional postures with respect to how they handle their kids and their money. Many will see to it that their children want for nothing, taking the position that they wish their kids to have everything they did not when they were youngsters.
Other parents, however, go in the diametrically opposite direction, deciding that it is for junior’s own good that he receives a very limited allowance, and goes out to work for the things he wants as soon as he’s old enough to do so. In doing so, say those parents, the kids will be more likely to appreciate the value of both hard work and a dollar.
Gordon Ramsay? He’s firmly in the camp of the second group of parents.
As reported by The Penny Hoarder, Ramsay recently told The Telegraph that when he finally heads to that great kitchen in the sky, his children will not be the beneficiaries of the wealth he will have accumulated…and this is from a guy who made, just last year, an estimated $54 million.
“It’s definitely not going to them, and that’s not in a mean way; it’s to not spoil them,” he told The Telegraph.
What’s more, Ramsay and his wife Tana are committed to doing what they can to help keep their kids on an even keel while the folks are still alive and kicking. Although the pair have agreed to make 25 percent down payments on homes for each child, they insist that’s it, and they won’t be doing anything more as far as that goes.
Presently, Ramsay says that his oldest daughter, who’s in college, receives an allowance of about $125 a week, while the younger kids each get about $63 a week.
“And they have to pay for their own phones, their bus fare,” says Ramsay. “The earlier you give them that responsibility to save for their own trainers and jeans, the better.”
By Robert G. Yetman, Jr. Editor At Large