Showbiz
Lloyd Webber leaves children out of will
Published Monday, Oct 6 2008, 14:10 BST | By Simon Reynolds
The theatre impresario, whose personal wealth is rumoured to be around £750 million, revealed that his children will not inherit his production company Really Useful Group.
He told The Mirror: "They aren't bothered. They don't think that way. It is about having a work ethic - I don't believe in inherited money at all.
"I am not in favour of children suddenly finding a lot of money coming their way because then they have no incentive to work.
"So I will give them a start in life but they aren't going to end up owning the Really Useful Group."
Lloyd Webber has children Imogen and Nicholas with first wife Sarah Hugill, as well as Alastair, William and Isabella from his marriage to Madeleine Gurdon.
More: Andrew Lloyd Webber, Showbiz
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