Celebrity finances are always a subject of fascination for many average people. The Kardashian-Jenner family are among the richest in Hollywood, so it is not surprising that fans are constantly curious about how much money they are spending and leaving for their children.
Kim Kardashian West and Kanye West’s oldest child, North, might actually never work a day in her life, if reports are to be believed. It has been said that the famous couple is leaving their daughter $10 million to claim when she turns 21 years old. Read on below to learn more about the details of North’s trust fund.
North West has been growing up in luxury
Ever since the day North was born in 2013, it was clear that she would not grow up like any other kid her age.
For one thing, the Kardashian-Jenner family is known for their wealth and luxurious lifestyle. They often show off their enviable net worths by throwing huge parties, taking pictures of their expensive cars and designer clothes, and traveling to many exotic locations.
North’s mother has a net worth of $350 million and is the second-richest of her siblings. Meanwhile, her father is worth around $240 million. The family lives in a $20-million mansion in Hidden Hills, California. The home reportedly has a movie theater, a hair salon, and two floors for North and her siblings to play on.
According to Kardashian, North is also interested in fashion and makeup. As such, she has a collection of designer handbags and has been seen wearing a lot of expensive outfits. This past Christmas, Kardashian even revealed that she and her husband gave North a jacket that was worn by Michael Jackson.
Kim and Kanye reportedly set up a trust fund for their daughter
It seems that Kardashian and West do not have any expectations for North to become financially independent in her adult years. Hollywood Life reported that, when North was a baby, the couple already set up a trust fund for her, which she will receive when she turns 21.
“He and Kim already put $5 million each into an account for her that she can have free and clear when she turns 21,” a source told of West. “He wants her to always live the life she’s going to be accustomed to. That’s just spending money for her when she reaches 21. They got a whole lot more set up for her in case something were to happen to both he or Kim.”
The insider shared that West is “living like a king and he wants the same for Nori.”
It’s not clear if Kardashian and West have set up trust fund accounts for their other children, but if they did it for North, it’s likely that they did it for her siblings as well.
The Kardashian siblings inherited a $100 million estate from their father
Kardashian seems to understand how valuable money inheritance can be since she herself also was given some wealth after her father passed away from cancer in 2003. Robert Kardashian Sr. was an attorney known for defending O.J. Simpson in the 1990s. According to reports, the Kardashian siblings were left with a $100 million estate after their father’s death.
While Kardashian and West are okay with letting their children inherit large sums of money, a number of other celebrities think differently.
For example, Ashton Kutcher has revealed that he and his wife, Mila Kunis, will be giving much of their wealth away to charity organizations. Additionally, people like Simon Cowell, George Lucas, and Sting also feel the same way and want their children to earn their own living.