Simon Cowell, the famed music mogul behind The X Factor and America’s Got Talent, has had a challenging few years. From a near-fatal e-bike accident in 2020 to ongoing health struggles and professional ups and downs, Cowell has faced moments that led him to reflect deeply on life, legacy, and what truly matters. But rather than letting these hardships define him, Cowell is choosing a different path — one rooted not in wealth accumulation, but in purposeful giving and intentional parenting.
Cowell has publicly stated that he does not plan to leave the majority of his fortune to his son, Eric, now 10 years old. Instead, he plans to donate most of his wealth to charities that support children and animal welfare — two causes close to his heart. For Cowell, true legacy isn’t measured in dollars passed down but in values instilled, lessons taught, and lives changed through generosity.
“I don’t believe in passing on huge amounts of money,” Cowell once said in an interview. “Your legacy has to be about giving people opportunity and teaching them how to succeed on their own.”
Cowell’s approach emphasizes hard work, resilience, and education as the tools his son will need to create his own path. He believes in mentoring Eric to be compassionate and self-sufficient, understanding that character is more valuable than any inheritance.
This perspective aligns with a growing movement among high-net-worth individuals who are redefining generational wealth and the responsibility that comes with it.
CNN anchor Anderson Cooper, for example, has echoed similar sentiments. Though the son of heiress Gloria Vanderbilt, Cooper has long rejected the notion of inherited wealth. He has publicly stated he will not leave his son a financial fortune, other than ensuring access to a good education. Instead, he wants his child to earn his own success and develop independence.
Bill Gates, co-founder of Microsoft and one of the world’s wealthiest individuals, has also chosen a philanthropic path. Gates and his ex-wife Melinda have committed the majority of their wealth to the Bill and Melinda Gates Foundation, which funds health, education, and poverty-reduction initiatives across the globe. Gates has often explained that his children will inherit only a small portion of his wealth — enough to start their lives comfortably, but not enough to live off forever.
These influential figures are part of a broader trend of “giving while living” — using their resources now to tackle urgent global challenges and empower others. Billionaires like Mark Zuckerberg, Warren Buffett, Elon Musk, and MacKenzie Scott have pledged significant portions of their wealth to charitable causes through initiatives like the Giving Pledge, which encourages the world’s wealthiest individuals to commit to donating the majority of their fortunes during their lifetimes.
In the entertainment world, celebrities like Gordon Ramsay, Ashton Kutcher and Mila Kunis, and Sir Elton John have also spoken about not leaving massive inheritances to their children. Their goal is to raise grounded, motivated individuals who understand the value of money and hard work, rather than relying on generational wealth.
These decisions are not made lightly. For many, they reflect a desire to combat inequality, promote fairness, and support causes that uplift the most vulnerable. Instead of passing down large estates, these individuals are choosing to invest in the future — not just for their families, but for society as a whole.
For Simon Cowell, who once built an empire on discovering talent and transforming lives, it makes sense that his final act might be his most generous: using his fortune to ensure that children and animals — often the voiceless and underserved — receive the support and care they need.
In doing so, Cowell and others like him are helping to reshape how we think about wealth, privilege, and legacy in the 21st century. It’s not just about what you leave behind — it’s about who you lift up while you’re here.
