- The star of the Guy Fieri food network prefers to abandon her nine -figure wealth When he dies, does not transmit him to his children of the Z generation. Although he will consider a reversal of course when they learn the “tools of life” and will obtain two degrees, this is part of a broader trend than the hope of generation Z and generation Y Large transfer of wealth May be more complicated than expected.
Guy Fieri Perhaps one of the richest personalities in the history of food television, but for his two children, who can look at an interest in his wealth of Flavortown, that will mean nothing less than they put the work.
Borrowing a line from the NBA Shaquille O’Neal basketball star, Fieri said His sons, who are in their twenties: “If you want one of this cheese, you need to get two degrees.”
“None of this, which I built, you will get unless you come to take it,” added Fieri in an interview with Fox News.
Fieri’s sons are on the right track to meet the expectations of the chief. Her eldest son, Hunter, 28, is expected to graduate with a MBA of the University of Miami this year. His youngest, 19, Ryder is in his first year as the first cycle at the San Diego State University – and is already in fishing for a softer agreement.
“He’s like ‘dad, come on, give me a break. What if I get big notes all the time?’,” Recalls Guy Fieri.
While the ultimatum of Fieri may seem severe given his vast empire he has built, including a Food network contract of $ 100 million And dozens of Flavortown restaurants said the 57 -year -old Initiate of Business That his policy is based on what his father instilled in him at a young age.
“He said,” When I die, I don’t leave you anything except a funeral bill “,” said Fieri.
“It is a joke because my father already gave me everything. My father gave me an education. My father gave me awareness. My father gave me the tools of life. It was very clear to a very young age that I was going to have to do myself.”
The rich are not so fast to give all their money to their children
The fierce with bleach and tips hair is not the first ultra-rich individual, or even the food personality, to have strong feelings about their inheritance.
The famous chef Gordon Ramsay, known for his difficult behavior, said his now-$ 220 million fortune is “certainly not going” to his children: “And it is not average; It’s not to spoil them. “
And Bill Gates, whose net value totals around $ 160 billion, also holds the philosophy he Her children find their own successRather than inheriting it.
“In my case, my children obtained great education and education, but less than 1% of total wealth because I decided that it would not be a favor for them”, he said on a podcast last month.
An increasing number of millionaires and billionaires prefer to spend or give their wealth harshly won in part as a means of teaching their children the true value of wealth.
“You can die with zero – you must be intelligent on this subject”, Elena Nuñez Cooper, the founder of a public relations company, said Fortune. “You should have train your grandchildren, children, nieces and nephews, to use money wisely so that they do not count on a payment.”
Generation Z and generation Y bance on thousands of windfall tickets, but it can never come
Even those who do not have members of the upper class family hope that, while their parents and grandparents of baby-boomers die, they will see a financial gain. While it promised Large transfer of wealth should total some 84 billions of dollars, some Gen Zers and Millennials may not see as much money as initially planned.
A study revealed that only 20% of Baby-boomers should leave an inheritance Behind for the members of their young family, rather opting to spend retired money with financial security and comfort.
This news can be particularly frustrating for Gen Z, which found that today’s economy was a difficult battle, with Price of housing out of reachmounds of Student loan debtAnd implacable inflation.
However, everything cannot be lost; according to America Bank,, Generation Z will be the most important and richest economic force By 2035, probably allowing them to eat outside in Guy Fieri’s Flavortown restaurants as often as they can dream.
This story was initially presented on Fortune.com
