Marie Osmond has accumulated a fortune over her lifetime, which is reportedly around $20 million. If anyone was wondering if her children would receive any of it after she passes away, the answer is no. Not a single penny.
In Marie’s recent appearance on ‘The Talk’, the 60-year-old explained why she believed leaving such a fortune to her children would be a “great disservice,” and that she thought they needed to make their own money, in their own way.
Her children might want to start searching for the cheapest phone plans, huh?
If Marie Osmond’s children hoped to inherit some of her wealth someday, she dashed those hopes during her recent appearance on “The Talk.” Instead, she believes her children would be better off creating their own fortunes without any help from their parents.
“I’m not leaving any money to my children. Congratulations, kids! My husband and I decided that you do a great disservice to your children to just hand them a fortune because you take away the one most important gift you can give your children, and that’s the ability to work,” Marie explained.
“You see it a lot in rich families where the kids don’t know what to do so they get in trouble, so I just let them be proud of what they make and I’m going to give mine to charity.”
Although what Marie Osmond suggested might make sense, Sheryl Underwood was quick to disagree. She said she believes that when people are born into money, they understand it far better than those who aren’t.
“When you come from a family of money, you raise your children to value money and to understand money, and because they were born into the family, they should have a healthy respect for money,” said Underwood.
“I would love to have some type of money left for me from somebody else so I can have a leg up. I think when wealthy people say, ‘I’m not leaving my kids anything,’ well, they’ve been living this great life.”
Marie countered Underwood’s words, saying she made her decision based on personal experience. She said, “I had an uncle and an aunt, her family fought over a mirror and a table when they passed away. My mother said, ‘That will never happen.”
Marie Osmond has eight children. Michael, 18, who passed away in 2010, Craig, 36, Jessica, 32, Rachael, 30, Brandon, 23, Brianna, 22, Matthew 21 and Abigail, 17.