You’d think most parents would do anything for their kids. Try to give them the best and provide for them.

And if they’re millionaires, you’d think maybe they’d want their kids to be financially secure.

Not Andrew Lloyd Webber!!!

The British Composer is worth an estimated £750million, that’s a bit over $1 billion.

But, his five kids will see very little of that money once he dies.

What an ass!

In an interview with the Mirror, Webber defends his decision and tries to convince you his kids don’t mind either.

Webber says about his children that “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.”

His company, which started back in 1977, is responsible for musicals like Cats, Evita, and Phantom of the Opera.

It also owns some West End theaters in the UK.

Webber adds, “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 ain’t going to end up owning the Really Useful Group. I don’t think it should be about having a whole load of rich children and grandchildren.”

That group is what Webber wants to help young and starting composers and singers fulfill their dreams.

He continues, “Basically, it is extremely likely that my wife Madeleine will outlive me so I will leave the problem with her. But both of us feel that we would prefer the company to continue to do things. It is so unusual that it’s a family company and I think the question is who runs it. I think it is unlikely that I want to see it caught up with family.”

As for now, Webber’s main focus will be on creating a sequel to Phantom of the Opera.

The original has already made him over $2.4 billion worldwide.

The sequel, with the working title Phantom – Once Upon Another Time, will show all the characters relocating to NY 10 years later.

Webber says, “The Phantom was somehow spirited away to Coney Island. And amongst the freaks he starts the greatest amusement park the world has ever seen. I’d like the show to be ready for next October.”

Those poor kids - literally!

[Image via WENN.]

Original post by Perez Hilton