Even when the parents are famous and wealthy, their children don't always enjoy the same glamorous lifestyle. Take, for instance, Arnold Schwarzenegger's son, Joseph Baena, who recently graduated from college. Surprisingly, Schwarzenegger decided to stop supporting him financially, despite having a net worth close to $500 million. The reason behind this decision, according to the Terminator himself, remains his own.
Schwarzenegger's fortune mainly grew through investments in stocks, using earnings from his acting and bodybuilding career.
Although Joseph Baena's story draws attention because of his famous father, it's not entirely uncommon. Many celebrity offspring experience a similar situation, where their parents choose to keep their substantial wealth to themselves.
Arnold Schwarzenegger and former NBA player Shaquille O'Neal, both worth hundreds of millions, seem to share a similar approach when it comes to money and parenting.
In Shaq's case, despite having a fortune of $400 million, he shares very little with his six children. He argues that they should earn their own income.
While some parents strive to secure their children's financial future, sparing them from the hardships they faced, others who have achieved success opt to cut financial ties with their kids, motivating them to work harder in life.