Billionaire Elon Musk says it would be a mistake to automatically hand over his company shares to his ten 𝘤𝘩𝘪𝘭𝘥ren.

Tesla and SpaceX founder Elon Musk is one of many celebrities of shared their thoughts about passing on their wealth to their 𝘤𝘩𝘪𝘭𝘥ren. According to Musk who already has 10 of his own, he is “not in the school” of passing on shares in his companies to 𝘤𝘩𝘪𝘭𝘥ren who wouldn’t be able to manage them or have no real interest in running them.

Speaking during a recent sit down with Wall Street Journal’s CEO Council, Musk shared that he already has a plan in place for his businesses should he pass on.

ELON MUSK’S AFTER DEATH PLANS DON’T INCLUDE LEAVING HIS KIDS BILLIONS

A few years ago actor Ashton Kutcher and his actress wife Mila Kunis revealed that they don’t plan on leaving their two kids any of their vast wealth.

Other stars such as Jackie Chan, Gordon Ramsay, Daniel Craig and Bill Gates have all previously shared that they are against funding their 𝘤𝘩𝘪𝘭𝘥ren’s lives and it looks like South African-𝐛𝐨𝐫𝐧 US based Elon Musk is joining the pack.

Elon Musk’s big family. He is a father of ten.

Speaking during a Wall Street Journal interview, Musk revealed that he is not planning on simply leaving his companies SpaceX, Twitter and Tesla to his 𝘤𝘩𝘪𝘭𝘥ren.

According to the mogul who is currently worth $188bn, it would be a “mistake” to automatically hand the shares over to them.

“I am definitely not of the school of automatically giving my kids some shares of the companies, even if they have no interest or inclination or ability to manage the company. I think it’s a mistake,” he said.

A PLAN IN PLACE

Musk also added that he already has already discussed some of the steps that should be taken should he lose his life any time soon.

“There are particular individuals identified that I’ve told the board look, ‘If something happens to me unexpectedly, this is my recommendation for taking over.’ So in all cases, the board is aware of my recommendation.”