I was fascinated last week to see an interview with Duncan Bannatyne, multi-millionaire businessman and member of BBC’s ‘Dragon’s Den’.he has several quite young children, but insists that, when he dies, his fortune won’t go to them, but to charities in order to keep them ‘grounded’.
But last night I watched Bannatyne’s fellow Dragon Peter Jones, whose approach to keeping his children’s feet on the ground was altogether more pragmatic.
He explained that he has put all his money into a Trust. When his children begin to earn salaries, the Trust will pay them pound for pound the same amount as their salaries – so the more they earn themselves the more they get.
Unless, said Peter Jones, they go into a low-paid job which serves society, “like being a nurse”, in which case his Trust will pay them four times their salary.
What a very astute chap.