Many wealthy parents worry that their children will grow up spoiled, entitled, and ungrateful. To prevent this, celebrities and billionaires alike have adopted a tough love approach—reminding their kids that wealth belongs to the parents, not the children.
Hollywood star Ben Affleck recently joined this tradition when his 13-year-old son, Samuel, admired a pair of $6,000 Dior Air Jordan 1 sneakers at a sneaker convention. When Samuel insisted he liked them for their design, Affleck gave him a reality check:
“That’s a lot of lawns you gotta mow there.”
Later, in an interview with Access Hollywood, Affleck elaborated:
“He said, ‘We have the money.’ And I told him, ‘I have the money—you’re broke.’”
The “My Money, Not Yours” Parenting Approach
Affleck is far from the only celebrity to use this wake-up call strategy.
• Shaquille O’Neal told his children on the Earn Your Leisure podcast: “We ain’t rich—I’m rich.” He also makes them pitch business ideas before he considers funding them.
• Warren Buffett once wrote that wealthy parents should leave their children “enough so they can do anything, but not enough that they can do nothing.”
• Jerry Seinfeld similarly tells his kids: “I am rich, you’re not.”
• Chris Tucker, in his Netflix special Chris Tucker Live, joked about his family quitting their jobs after he started making millions. His response? “Y’all ain’t rich, I’m rich. Y’all better get your jobs back before it’s too late.”
• Even The Cosby Show delivered a classic version of this lesson, with Cliff Huxtable telling his daughter: “Your mother and I are rich. You have nothing.”
Why Do Rich Parents Do This?
Wealthy parents don’t want their kids to be lazy or assume that luxury is a birthright. Instead, they want them to develop a strong work ethic and earn their own way. The goal is to prevent entitlement and ensure they appreciate the value of money.
Will It Work?
While some celebrity kids go on to build successful careers of their own, others still end up relying on family wealth. Whether this strategy works depends on how well parents balance financial security with teaching responsibility.
What do you think—is this the best way to raise wealthy kids, or should parents be more generous? Share your thoughts!
