The founder of Phones4U has revealed that he will give the majority of his £1.5 billion fortune to charities – not to his five children.
John Caudwell said that he will give away 70% of his fortune to good causes, with 30% going to his children. He said, Caudwell said that with a ‘few hundred million’, his children will still be ‘filthy rich’ – and able to ‘ruin their lives.’ In an exclusive interview with the Mirror, the mobile phone entrepreneur said, ‘If they are worth several billion, what about giving most of that away and just leaving a few hundred million to the kids? They’re still filthy rich, they can still ruin their lives.Caudwell has five children, Rebekah, 39, Libby, 31, Rufus, 23, Scarlett, 17 and Jacobi, 15.
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