Dragons’ Den stars’ kids – inheritance bans, staggering allowances and ‘match-funding’

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When you earn a staggering amount of money, people are always bound to ask what will happen to it when you're gone.

And that's certainly the case for the stars of Dragons' Den, who have net worths of millions and family to share it with.

Some of the Dragons have made it very clear that their kids won't be getting any handouts off them and must work hard if they want to see any cash.

Most want their children to stand on their own two feet but do want to give their offspring pocket money, allowances and little bump ups to help them on their way.

While one Dragon admitted his kids wouldn't survive without his vast fortune – and pointed out that to suddenly take away their lavish lifestyle would be cruel.

Here's a look at what the Dragons have said about giving away their money to their children.

Peter Jones

Peter Jones has come up with a clever system for his kids
(Image: Instagram)

Peter has made it clear his kids won't get a penny from him if they decide not to work.

The only original Dragon remaining in the Den, Peter was just 16-years-old when he started up his business, which is older than some of his children are now.

The mammoth business tycoon, who has an estimated net worth of £500million, has Annabelle and William from his marriage to ex-wife Caroline.

He also has three teenage daughters, Natalie, Isabella and Tallulah, with long-term partner Tara Capp.

Peter has admitted that how much pocket money his kids receive has caused rows in the past.

“My pocket money is based on incentive," he told Radio Times in 2015.

"It’s like, ‘You’ve got to clean your room, to get this’, and if they don’t do it, they don’t get the money. It’s a bone of contention."

Peter Jones with partner Tara and their daughters
(Image: Instagram)

To decide how much inheritance his kids receive, Peter has devised a clever 'match-funding' system.

"I want my kids to be polite and respectful, stand on their own two feet. In the future if they want to go and do charitable work, then I’ll fund that charitable work. I’ve said that rather than me buying them a house, I’ll give them a contribution on top of what they deliver.

"So if they earn £20,000 a year, I’ll give them a tiny contribution on top. If they decide not to work, they don’t get anything. I want them to do it for themselves.

"My children won’t get large chunks of cash, no. I’ve set up an arrangement which gives them something called match-funding. When they finish full-time education and start to work, whatever they earn, they will get the same again. Every year for the rest of their lives the trust will double their income."

Duncan Bannatyne

Duncan said he isn't giving all his fortune to his daughters
(Image: Instagram)

Scottish businessman Duncan once said he wasn't going to leave a penny to his children.

The former Dragon, who is worth around £280million after building up his famous chain of health clubs, has six kids from his first two marriages.

He wed first wife Gail Brodie in 1983, who he shares daughter Hollie, Abigail, Jennifer and Eve with, but they divorced in 1994.

Then he tied the knot with Joanne McCue in 2006, mother of his kids Emily and Thomas, but their marriage ended six years later.

In 2009, Duncan said his kids would not be getting anything from his vast fortune as it would "not be good for them" to inherit such a large sum.

Instead, he vowed that the funds from his £310 million estate would go to charity.

Duncan even confessed he froze his daughter's £400 a month allowance for several months after catching her smoking.

"It only lasted a couple of months before she persuaded me she wasn’t smoking, and I started making the payments again," he explained.

"It’s not a big trust fund anyway – I don’t think it’s good for them.

"When I die, the money’s going to go to charity."

Duncan with his daughter Abi
(Image: Instagram)

However, during a 2013 interview with the Daily Mail, Duncan had seemingly changed his mind.

The businessman revealed he wanted to build up his company following his costly divorce from second wife Joanne so that his kids would not be left penniless.

"But then I started worrying about what would be left for my children, and with the economy in the state it’s in, I thought I could make the company more valuable again and leave them a better inheritance," he said.

The 71-year-old is now married to Nigora Whitehorn, who is 31 years younger than the former Dragon.

Speaking to OK! in January 2020, the couple revealed they are open to starting their own family together.

Duncan explained: "I don’t think it’s going to happen. We tried, but I don’t think we are going to have children.

"We’re not trying to prevent it happening, so if it did, great, but I don’t think it is going to."

Nigora added: "If it’s going to happen, it’s going to happen, but we are not doing anything about it, like IVF, and we are not going to stress about it."

Theo Paphitis

Theo with his youngest two daughters
(Image: theopaphitis/Instagram)

Former Dragon Theo Paphitis was known for his catchphrase of telling entrepreneurs: "Why should I spend my children's inheritance on that?"

So it comes as no surprise that the Greek-Cypriot tycoon, who owns Ryman as well as Boux Avenue and homeware specialist Robert Days, wants to give a lot of money to his kids.

Theo lives in Weybridge, Surrey with his beloved wife Debbie, who he affectionately referred to as 'Mrs P' during his time in the Den, and is worth a staggering £290million.

They have five kids, Dominic, Zoe, Alex and twins Holly and Annabelle, who are all set to inherit a fair bit off their dad.

Theo pointed out that if he suddenly took away his children's privileged lifestyle then it risked "driving them to places you don’t want them to go".

"My view is very simple. I’m a traditionalist, a family man, I love my kids. I believe I have brought them up the right way. They are all very different, they have different drives, different ambitions. They are never going to be me. They are going to be themselves," he told the Daily Mail in 2013.

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"We support each other and there is no reason why I shouldn’t support my children. I, on the other hand, had absolutely nothing, apart from the love of my parents. You make your kids what they are, so what do you do?

"Do you not get them used to a lifestyle? What happens when they become 18 and they are used to a certain lifestyle and then you say, 'I’m going to take it away?'

"How do you know they are capable of coping with that? How do you know that’s not going to drive them somewhere to a place you don’t want them to go anywhere near because of it? You can’t do that."

However, not all of Theo's fortune is going to his offspring.

The Paphitis Charitable Trust distributes all of his fees from TV appearances, speeches and his book to causes close to his heart and charities associated with children.

Sara Davies

Sara with her two boys and husband Simon
(Image: Instagram)

Sara Davies has always made sure her kids come first.

The newest Dragon in the Den, who became the youngest ever when she joined in 2019 at the age of just 35, founded her crafting company from her bedroom at university.

While there is also met her husband, Simon, who is the father to their two kids Oliver and Charlie.

The couple, who live in Teeside, don't always agree on how to raise their kids, as Sara wants her kids to have the same life experiences they did.

"My husband Simon wants to give the kids the things we could not have – but I want them to have the experiences we did have," she said on Loose Women.

While her children will have to work for their pocket money, they receive more than she did because of their impressive negotiating skills.

Sara has already taught her boys to be good at negotiating
(Image: Instagram)

"My six-year-old son will help out at the shop, which my sister owns, and she’ll have him doing the same thing that I was back then,” she told The Mirror.

"With a bit of inflation he will get a couple of quid. My boys can negotiate much better than I can."

Sara, who is now worth around £37million, has said her business Crafter's Companion isn't her number one business success, but actually being able to be a "mam, wife and a businesswoman" at the same time.

"I’m a busy person but I never feel like my kids are being compromised. They have a loving, supporting family around them at all times," she posted on Instagram.

"My learning is that we CAN have and do both.

"No matter how busy you are as a working mum you shouldn’t feel less of a mother– you are doing your best and that’s exactly what counts!"

*Dragons' Den airs tonight on BBC One at 8pm

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