PI Global Investments
Property

Stars who left children out of property empires


It is the ultimate family feud.

Hollywood stars, rock icons and sports legends built eye-watering property empires, only to pass away and leave their children without a single cent.

From a mega-mansion to fortunes that vanished behind trust walls, this is where the cash and real estate really went.

Michael Hutchence

Estimated estate at death: $10m to $20m

When INXS frontman Michael Hutchence died in a Sydney hotel room in 1997, he left behind a global property portfolio believed to be worth tens of millions of dollars.

His holdings included a waterfront residence on the Gold Coast, luxury villas in France and Bali, and commercial property in London.

In his 1996 will, Hutchence instructed that the first half of his estate go to his only daughter, Heavenly Hiraani Tiger Lily Hutchence.

The remainder was to be split between his partner Paula Yates, his parents and his siblings.

When executors finalised the estate eight years later, they claimed the rock star died virtually penniless, declaring just $506 in cash and a $572 share of the band’s bank balance.

MORE: Massive fortune Patrick Stewart left behind

‘I’m sorry’: Jerry Springer’s sad secret at 79

Stevie Wonder shock at 76 as ex won’t leave

Peter Carrette Archive Collection

At the time of his death, Michael Hutchence only had $506 in cash. Picture: Peter Carrette Archive/Getty Images


The properties had been placed inside complex offshore corporate trusts and tax havens. Tiger Lily received no real estate, no royalties and zero inheritance.

Documentary maker Richard Lowenstein spoke to Tiger Lily in 2019, where she laughed at him when he said “maybe it’s [Hutchence’s estate] still going to come to you”.

Tiger Lily told him she’d “given up on that now. It’s literally gone”.

Speaking to the Herald Sun, Lowenstein added: “I met up with Tiger for dinner in London. We went to her flat to watch the documentary and it was like a little squat.

“I said, ‘Where’s the money from your dad’s estate?’ and she said, ‘I’ve never received anything from anyone. I had a meeting once with an accountant that was so bad I didn’t want to do it again’.”

When Tiger Lily previously met her late father’s accountant he allegedly handed her an envelope containing £500 ($A1000) and told her “there you go, that will tide you over”.

Tiger Lily Hutchence, the daughter of the late Michael Hutchence.


Peter Brock

Estimated Net Worth at Death: $15m+

When Australian motorsport legend Peter Brock died in 2006, he left behind a sprawling 28ha sanctuary at Eltham in Melbourne.

The estate sat alongside prime automotive and licensing assets.

A bitter Supreme Court battle erupted over his fortune after Brock left three conflicting wills.

They included a formal 1984 document, an unsigned 2006 draft and a 2003 DIY kit.

Brock signed the 2003 kit document but left the distribution section entirely blank, telling his former partner Bev Brock he trusted her to fill in the details.

The court ruled in 2007 that the 2003 DIY document validly revoked the 1984 will, despite lacking proper witness signatures.

Racing driver Peter Brock 06 Jul 2004.  p/

Australian motorsport legend Peter Brock built a property collection across Victoria.


Because the signed document contained no division instructions, Brock technically died intestate without a functional will.

Under Victorian intestacy law, the $3.3m estate bypassed Bev Brock, stepson James and fiancee Julie Bamford.

It landed solely with his two biological children, Robert and Alexandra.

The biological siblings agreed to share the estate equally with their stepbrother James, while Ms Bamford settled a family provision claim out of court.

Individual pieces of Brock’s racing legacy have since surged in value, with his Bathurst-winning Commodores fetching millions at auction.

may 29 1997 - Peter Brock and his partner Beverley and children Robert and Alexandra . p/ motor racing sport families headshot

Brock with his then-partner Beverley and children Robert and Alexandra.


Childrens charity Jeans for Genes holds its annual dinner at The Sofitel Wentworth Hotel. Julie Bamford and Peter Brock

Brock with his then-fiancee Julie Bamford.


Aaron Spelling

Estimated estate at death: $US600m ($900m)

TV producer Aaron Spelling built one of the largest private residential holdings in American history.

His crown jewel was The Manor, a 123-room, 5200sq m mega-mansion in Holmby Hills in Los Angeles, featuring a bowling alley, an ice rink and parking for 100 cars.

When Spelling died in 2006, his daughter, Beverly Hills, 90210 star Tori Spelling, expected a substantial inheritance.

FILE - Legendary TV Producer Aaron Spelling Dies

TV producer Aaron Spelling and his daughter, actress Tori Spelling. Picture: Vince Bucci/Getty Images


Instead, Spelling left virtually his entire empire to his wife, Candy Spelling, leaving Tori and her brother Randy just $US800,000 ($1.2m) each.

Candy Spelling later revealed the modest sum was deliberate, claiming her daughter lacked financial discipline.

“She would close a store and drop $50,000 to $60,000,” Candy Spelling said in a 2014 interview with the New York Times.

“I never did anything like that. She just went crazy.”

Candy Spelling sold The Manor in 2011 for $US85m ($127m) in cash to British heiress Petra Ecclestone.

The estate traded again in 2019 for $US119.75m ($180m), with Tori receiving none of the windfall.

2024 iHeartRadio Music Awards - Arrivals

When Aaron died in 2006, he left $US800,000 to Tori and her brother Randy. Picture: Frazer Harrison/Getty Images


Philip Seymour Hoffman

Estimated estate at death: $US35m ($52m)

Oscar-winning actor Philip Seymour Hoffman assembled an enviable New York real estate portfolio, including a $US4.4m home in Manhattan’s West Village.

When Hoffman died in 2014, court filings revealed he intentionally excluded his three children, Cooper, Tallulah and Willa, from his will.

Hoffman had explicitly instructed his accountant that he did not want his children to become “trust-fund kids”.

He left his entire fortune and property holdings to his long-time partner, Mimi O’Donnell, trusting her to support the children without guaranteed generational wealth.

Philip Seymour Hoffman

Estimated estate at death: $US35m ($52m)

Oscar-winning actor Philip Seymour Hoffman assembled an enviable New York real estate portfolio, including a $US4.4m home in Manhattan’s West Village.

When Hoffman died in 2014, court filings revealed he intentionally excluded his three children, Cooper, Tallulah and Willa, from his will.

Hoffman had explicitly instructed his accountant that he did not want his children to become “trust-fund kids”.

He left his entire fortune and property holdings to his long-time partner, Mimi O’Donnell, trusting her to support the children without guaranteed generational wealth.

Phillip Seymour Hoffman in The Master

Philip Seymour Hoffman excluded his three children, Cooper, Tallulah and Willa, from his will.


Steve Irwin

Estimated estate at death: $US10m ($15m)

When Aussie wildlife legend Steve Irwin died in 2006, he had acquired vast tracts of regional Queensland land.

He had also transformed Australia Zoo into a global tourism drawcard.

Unlike typical celebrity estates where cash and luxury homes are handed down, Irwin poured his wealth into Wildlife Warriors.

His commercial land and animal sanctuaries remained locked inside the family trust managed by his widow, Terri Irwin.

Bindi and Robert Irwin received no personal cash lump sums or private titles to sell off. Their inheritance was the responsibility to manage and work within the family business.

Steve Irwin poured his wealth into Wildlife Warriors. Picture: Instagram


12th Annual Endometriosis Foundation Of America's Blossom Ball

Bindi and Robert Irwin received no personal cash lump sums or private titles to sell off. Picture: Dia Dipasupil/Getty Images


Steve Jobs

Estimated estate at death: $US10.2bn ($15.4bn)

Apple co-founder Steve Jobs commanded a massive fortune backed by prime Silicon Valley real estate, including his Palo Alto residence and historic Woodside land holdings.

Jobs had a strained relationship with his eldest daughter, Lisa Brennan-Jobs, whose paternity he denied for years.

When Jobs died in 2011, he left his fortune, Disney shares and extensive properties to his wife, Laurene Powell Jobs.

Lisa received no direct stake in the property empire, later outlining in her memoir Small Fry how she felt excluded from the family wealth.

Powell Jobs told the New York Times in 2020 that she and her late husband opposed “legacy wealth building”.

“I inherited my wealth from my husband, who didn’t care about the accumulation of wealth,” she said.

“I’m not interested in legacy wealth buildings, and my children know that. Steve wasn’t interested in that. If I live long enough, it ends with me.”

Steve Jobs with his daughter Lisa Brennan-Jobs in 1986. Supplied


82nd Annual Academy Awards Arrivals

When Jobs died in 2011, he left his fortune, Disney shares and properties to his wife, Laurene Powell Jobs. Picture: Alexandra Wyman/Getty Images


Tony Curtis

Estimated estate at death: $US60m ($90m)

Hollywood star Tony Curtis acquired prime real estate across California and Nevada throughout his six-decade acting career, including a lavish Las Vegas estate.

When the Some Like It Hot star died in 2010, his five children, including actor Jamie Lee Curtis, discovered they had been completely cut out during probate.

Curtis had rewritten his will months before his death to explicitly disinherit his children.

The court document contained a blunt clause: “I acknowledge the existence of my children … and have intentionally and with full knowledge chosen not to provide for them.”

The entire $US60m estate was left to his fifth wife, Jill Vandenberg, who subsequently auctioned off his real estate and personal collection.

Tony Curtis with his son Benjamin Curtis, daughter Kelly Curtis, son Nicholas Curtis, daughter Allegra Curtis, and actress daughter Jamie Lee Curtis. Picture: Ron Galella, Ltd./Ron Galella Collection via Getty Images


Actor Tony Curtis in 03/94 file photo. Ref No UGL 7415/B/19.
Curtis/Actor P/

Curtis had rewritten his will months before his death to explicitly disinherit his children.


Kirk Douglas

Estimated estate at death: $US61m ($92m)

Golden Age Hollywood titan Kirk Douglas lived in his Beverly Hills home for more than seven decades, amassing a $US61m ($92m) fortune alongside prime California real estate.

When he died in 2020 aged 103, he decided his children, including actor Michael Douglas, did not need his wealth.

Douglas directed almost his entire fortune to the Douglas Foundation to fund charities and scholarships. His surviving children received zero cash or property.

SBIFF's 2011 Kirk Douglas Award For Excellence In Film

Kirk Douglas (left) decided his children, including actor Michael Douglas (right), did not need his wealth. Picture: Michael Buckner/Getty Images


David Cassidy explicitly disinherited his actress daughter, Katie Cassidy. Picture: Getty


David Cassidy

Estimated estate at death: $US1.6m ($2.4m)

Partridge Family teen idol David Cassidy spent decades in the spotlight, once owning a luxury waterfront mansion in Fort Lauderdale in Florida with a private dock and pool.

After filing for bankruptcy in 2015, Cassidy was forced to offload the Florida property at auction for $US2m.

When he died in 2017, his remaining estate was left to his son, Beau, with music memorabilia gifted to his three half-siblings.

In a final snub, Cassidy explicitly disinherited his actress daughter, Katie Cassidy.

“It is my specific intent not to provide any benefits hereunder to Katherine Evelyn Cassidy,” he wrote in the will, which had been drafted in 2004 during a period of estrangement.

MORE: ‘F**k’: Simone Biles’ emotional breakdown

‘Hell’: Duran Duran star exposes sad demise

‘Empty’: Attenborough’s lonely life at 100



Source link

Related posts

Cops carry out early morning drugs raid on property beside busy Glasgow road – Glasgow Times

D.William

Voters to decide on amendments for lead pipe replacement, protection for private property from foreign adversaries

D.William

Sold house, personal assets, now living on rental income: Zee founder Subhash Chandra reveals his finances

D.William

Leave a Comment