Mark Zuckerberg and Priscilla Chan give their daughters chores; the Gates children had to save a third of each allowance for charity. Caudwell's children fly budget airlines and cannot buy designer clothes. An adviser says such rules prepare heirs for decision-making.
Chan said she and Zuckerberg also take their daughters to the office to show them how their parents contribute; Zuckerberg said they do not give the children everything. Melinda French Gates said allowances increased as the children grew older. She recalled refusing to buy Jennifer a designer purse because it might set her apart from classmates, and said seeing wealthy peers treat themselves as special influenced her approach.
Caudwell said he grew up with next to nothing and wanted to avoid overcorrecting. Gordon Ramsay said his children travel economy while he and his wife fly first class; they also use the subway and volunteer at a local hospital. Wealth consultant Jim Grubman described the rules as sustained preparation for decision-making, rather than simply an effort to prevent entitlement; he said not every ultrawealthy family follows this approach.
