Simon Cowell’s fortune will go to charity, not son

Simon Cowell is expecting his first child with Lauren Silverman and is eagerly making plans for life as a father. But, the X Factor judge said those preparations don’t include setting up a trust fund.

“I’m going to leave my money to somebody. A charity, probably — kids and dogs,” Simon told Esquire. “I don’t believe in passing on from one generation to another. Your legacy has to be that hopefully you gave enough people an opportunity, so that they could do well, and you gave them your time, taught them what you know.”

Love him or hate him, no one can deny that Simon created a lot of opportunities for aspiring entertainers. As one of the original judges on American Idol and the creator of X Factor, Simon played significant roles in the early years of many singers’ career.

Simon also benefited from the talent shows: The 53-year-old is worth an estimated $350 million. Even though Simon doesn’t plan to pass that money on to his son, he does look forward to fatherhood.

“I feel very paternal right now. So I am very happy,” he said earlier this month. “I can assure you: I won’t go soft!”