Andrew Lloyd Webber wont bequeath much to his children

October 6th, 2008 - 4:55 pm ICT by ANI  

London, October 6 (ANI): British composer of musical theatres Andrew Lloyd Webber strongly believes that his five children should not inherit his fortune after his death.
They arent bothered. They dont think that way. It is about having a work ethic I dont believe in inherited money at all, the Mirror quoted him as saying.
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 aint going to end up owning the Really Useful Group, he added.
Lord Webber, who has racked up a 750million-pound fortune, also revealed that he wanted that his company continue helping budding composers and singers long after his death.
He said that his thoughts turned into his will around his 60th birthday in March, a milestone which will be marked by a three-CD collection of 60 of his best-loved songs.
It is one thing you do start to think about when you get to my age. I dont think it should be about having a whole load of rich children and grandchildren. I think it should be used in a way to encourage the arts, he said.
Set up in 1977, Lord Webbers company is the driving force behind musicals like Evita, Cats and Phantom of the Opera.
It owns a string of West End theatres and takings pour in from stage shows around the world, including a new boom in the Far East. (ANI)

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