Singer Marie Osmond revealed that none of her seven children will be inheriting her fortune when she dies.
The 60-year-old performer and the only daughter in the successful show business family of nine discussed her plans on “The Talk” during a segment Friday on how the late actor Kirk Douglas, who died last month at the age of 103, left much of his multimillion-dollar fortune to charity.
(Source: The Talk/YouTube)
“I’m not leaving any money to my children. Congratulations, kids,” Osmond said.
“My husband and I decided that. I think 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,” she added to applause and some nods from her co-hosts.
“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 my charity,” she said.
Osmond had eight children, some of whom were adopted with her then-husband, executive consultant Brian Blosil. The now-grown children are Craig, 36, Jessica, 32, Rachael, 30, Brandon, 23, Brianna, 22, Matthew 21, and Abigail, 17. Michael died in 2010 at the age of 18.
Osmond’s views on the daytime talk show caused some disagreement from her co-hosts.
“I disagree with that,” Sheryl Underwood said.
“I think that when you come from a family of money, you raise your children to value money and understand money and because they were born into the family, they should have a healthy respect for money,” she added. “I mean, 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.”
“I’m somewhere in the middle,” guest co-host Carnie Wilson said.
I love the idea of teaching your children to work,” the former member of Wilson Phillips added, explaining how she would like to leave some money to her children but also impart the value of a great work ethic.
Co-host Sharon Osbourne, wife of legendary rock star Ozzy Osbourne, disagreed with Osmond.
“Everybody is different, and I just know that my husband’s body of work that he’s written and kept us all in the lifestyle that we love, goes to my children and his name and likeness goes to my children,” she said. “I don’t want somebody that never met my husband owning his name and likeness and selling t-shirts everywhere. No, it stays in the Osbourne family.”
Many Twitter users seemed to agree as they blasted the entertainer for growing up with a celebrity life but claiming her children needed to learn the value of working for their money. Others thought it was her business to decide what she wanted to do with her own money.
Oh to be so rich to even have that choice
— TheGreatSaiyan⁷ [R.I.P. Black Mamba] (@2ToneTheGoat) March 2, 2020
Really funny considering how she mad millions so easily. Marie you don’t know what hard work is being the famed celebrity you became early in life. https://t.co/92kc00VbYY
— Keyperk (@Keyperk1) March 2, 2020
Her kids pic.twitter.com/Pef1cGtgU6
— Daniel Q. Carruthers (@DangerousDC40) March 2, 2020
That’s ridiculous you leave your children your fortune it’s a legacy and that’s what you work for she is totally wrong I’m so disappointed! I agree with the charity she can do both omg terrible!!
— Angelina (@angelin6113) March 2, 2020
What a Scrooge #AJ
— Andrew Johnson (@president70) March 2, 2020
This is your choice but to announce on a TV show your intentions and the sarcastic comment to your children was callous and cruel in my opinion. You need to personally apologize to each one of them ASAP.
I am really shocked that such a thing one come out of Marie Osmond’s mouth.— Gene Stoker (@GeneStoker) March 2, 2020
It’s crazy how all of the super-wealthy want a pat on the head for donating their money when they die in 30 years. Pay your taxes now, and cut out the fake philanthropy.
— Joe Hill (@davwim) March 2, 2020
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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