Published Sunday, 22 June 2014
The former Police frontman is worth an estimated £180 million, and he is adamant his six kids - Eliot, Joe, Mickey, Jake, Fuchsia, and Giacomo - won't inherit his estate.
The musician, who is married to film producer Trudie Styler, hopes his decision not to make his brood millionaires will ensure they all work to achieve their own success.
The singer, who is the son of a hard-working ship builder, tells Event magazine: "My generation all assumed we would have a better standard of living. The one that we spawned cannot assume that.
"With my children there is great wealth, success - a great shadow over them - so it’s no picnic at all being my child. I discuss that with them; it’s tough for them.
"I told them there won’t be much money left because we are spending it! We have a lot of commitments. What comes in we spend, and there isn’t much left.
"I certainly don’t want to leave them trust funds that are albatrosses round their necks. They have to work. All my kids know that and they rarely ask me for anything, which I really respect and appreciate.
"Obviously, if they were in trouble I would help them, but I’ve never really had to do that. They have this work ethic that makes them want to succeed on their own merit. People make assumptions, that they were born with a silver spoon in their mouth, but they have not been given a lot."