Music mogul SIMON COWELL has vowed to leave the majority of his $200 million fortune to a variety of children’s and animals charities upon his death, writing it into his will. The American Idol judge, 48, plans to donate $180 million (£90 million) to various different causes after he dies – dispelling the ‘Mr. Nasty’ nickname his sharp tongue on TV talent shows has earned him.
He says, “Mum asked, ‘Have you ever made a will?’ I said, ‘Thanks a lot!’ But it got me thinking.”
He admits his philanthropy will mean his family and his girlfriend Terri Seymour will be left with just a fraction – $20 million (£10 million) – of his vast fortune to share between them.
He adds, “Hopefully I’ll be a lot older when it happens, so it won’t affect them much!”
(Source: PR-Inside.com)
I love to see articles like this, as it reaffirms to me that many of the most financially successful people are also among the most generous. However…I would prefer to see people like Mr. Cowell commit to significant charitable giving while they are alive – I’m sure the charities could really use the money now, instead of several decades from now. I have no problems with celebrities enjoying a lavish lifestyle, as they have generally worked very hard to obtain what they have, but I’m sure that with his current earning power and several more income-generating years ahead of him, he would be able to put a large portion of his fortune to work now within the charities while still maintaining his current lifestyle through his retirement and beyond.