Proverbs 13:22 says: "A good man leaves an inheritance to his children’s children, And the wealth of the sinner is stored up for the righteous."
I've read several interviews over the years where wealthy people say things along the lines of "my kids won't see a cent of my money", ***but*** the way they come off is smug and holier-than-thou as if it's a virtue to not leave your kids anything.
It is one thing to say that you don't want your kids to end up being entitled brats who end up junkies but that has to do with how you parent them *before* you die. I think that when these types of stories are published, it causes older generation to think that leaving nothing to their children isn't just normal, but praiseworthy.
Additionally, when someone in the entertainment industry makes these sorts of comments, they want to believe that their wealth came from how great they were without any acknowledgement that they were lucky. It would be like a lottery winner saying that he wasn't going to leave his children any of his lottery winnings because he "wants them to know how to work for a living".
It's the *attitude* that gets me, the idea that people think not leaving your children an inheritance is something to brag about.
My children will work together. I prefer to have a diversified portfolio instead of betting everything on 1 child. It creates a more resilient family as a whole. Weakest link and all that.