The Sting of a Lost Inheritance

The rock star Sting recently announced that his six children will not receive his US$300 million estate. Although he was a bit vague about the ultimate destination he intimated it would be charity. We’ve seen versions of this story before. In the tradition of Warren Buffett — “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing” – Sting is challenging notions of entitlement and deploying his wealth for public good.