Andrew Lloyd Webber says he won’t make his children wealthy

Andrew Lloyd Webber, the famous British composer of musicals such as Cats and Phantom of the Opera, is reportedly worth approximately $750 million.  Nonetheless, it appears that he will not be leaving most of his fortune to his five children.

Here is an excerpt from Bethany Sanders, Andrew Lloyd Webber’s kids won’t inherit his money, ParentDish.com, Oct. 12, 2008:

[H]e doesn’t plan on giving his fortune to his kids when he dies.  Instead, the king of musicals will likely be donating the money toward helping kids around the world succeed in the arts. “(A will) is one thing you do start to think about when you get to my age. I don’t think it should be about having a whole load of rich children and grandchildren. I think it should be used as a way to encourage the arts.”

Special thanks to Sara Hudman (J.D. May 2008, Texas Tech University School of Law) for bringing this article to my attention.