John Caudwell is worth £1.5 billion. At least 70% of it is going to charity, and his 8 children know it. He grew up on a council estate in Stoke-on-Trent. In 1987 he started selling mobile phones. In 2006 he sold Phones 4u for about £1.46 billion. First he planned to give half away. Then he decided the other half was “too much” for his kids. “I absolutely disagree with trust fund babies.” He lives in a £250 million mansion in Mayfair. He says he always flies EasyJet and buys his clothes at Zara and M&S. His children range from a toddler to adults in their late 40s. Do the math the other way. If the remaining 30% went to the kids, split 8 ways, each would still get about £56 million. The case for Caudwell: he built it from nothing, and he doesn’t want money to do the work his kids should do. The case for the kids: their father lives in a £250 million house and tells them to make their own way. In the video below he explains why. Is he protecting his children from money, or keeping it from them?