Spencer Matthews, the former reality TV star turned entrepreneur, has shockingly confessed his wish for his children to avoid the pitfalls of wealth. The 36-year-old father of three is determined his offspring won’t be labeled ‘trust fund kids,’ expressing his desire for them to learn the value of money and hard work instead of inheriting his substantial fortune.
Matthews, known for his role on Made in Chelsea, is the son of multimillionaire hotelier David Matthews, owner of the famous Eden Rock resort. He attended Eton College, where the annual fees reach approximately £63,000. Despite his privileged background, Spencer is committed to instilling strong work ethics in his children: Theodore (six), Gigi (four), and Otto (two), whom he shares with wife Vogue Williams.
Recently, Spencer shared his views during an interview with The Mirror. He mentioned, “There’s no point in doing well in life and then giving it all to your kids. It’s doing them a huge disservice.” This sentiment reflects his broader philosophy on parenting and wealth, influenced by renowned comedian Jimmy Carr, who has spoken candidly about the downsides of giving children everything.
“Jimmy quite eloquently talks about trust fund kids who are just really unfortunate, and I would completely agree,” he articulated. Matthews worries about how easy it is for children born to wealth to miss out on the satisfaction of earning and achieving things for themselves. “If you’re a young man who’s just been handed everything, you may not ever understand the need to work because you have what you think you want,” he elaborated. Without the challenge of earning their keep, Spencer fears his children could grow up lacking true accomplishment and pride.
Completing his transformation, Matthews has distanced himself from his earlier image as the quintessential party-loving playboy. Over the past five years, he has focused on sobriety, business, and fitness, launching his alcohol-free spirits company, CleanCo, which is contributing to his estimated net worth of around £12.5 million.
The couple's financial acumen extends beyond their business ventures; they've also made headlines recently for real estate decisions. Having purchased their London home for £5.25 million, they recently slashed the price to €4.75 million as they seek to sell it and move to accommodate their growing family.
Matthews’s reflections on parenting are not only shaped by his wealth, but also by his recognition of the broader social narrative surrounding privilege. He believes it is imperative for children of wealth to understand the disparity between their lives and those experiencing financial struggles. He is determined to raise children who face challenges, which he believes will prepare them for adult life.
“Suffer is too strong a word, but it’s very important my kids challenge themselves and experience things on their own,” he stated, underlining his commitment to fostering resilience and determination within his family.
Speaking of his children, Spencer proudly shared how his eldest, Theodore, is already taking up running, inspired by his father’s impressive feats. Spencer recently achieved the remarkable accomplishment of completing 30 sand marathons across 30 days, setting a Guinness World Record. He aims for his children to become hardworking individuals, exemplifying the notion of earning rewards through effort.
Despite Matthew's resolve to instill independence and self-sufficiency, his wife, Vogue, recently expressed their differing views on family plans, particularly around the possibility of having four children. While Spencer is eager to expand their family, Vogue is more contemplative. “I had a timer on myself thinking: ‘I’ll decide at the end of this summer,’” she noted, emphasizing the weight of the decision on her. “If I said: ‘Let’s go with it,’ Spencer would do it straight away, but I think of the logistics, whereas he doesn’t.”
With such dynamic discussions surrounding their parenthood, Spencer and Vogue manage to maintain a strong relationship, often prioritizing time together amid their busy lives. “I feel very fortunate to have a wife like her. I admire her and love her,” Spencer affirmed when reflecting on their partnership.
Through candid statements about his life decisions and family, Spencer Matthews offers valuable reflections on wealth, responsibility, and parenting. He’s striving to find balance between affluence and the instillation of earnest values in his children, hoping to offer them lessons he believes are fundamentally important for their growth and personal achievements. Hopefully, the Matthews children will grow up to embody these ideals and approach life with the respect and hard work Spencer hopes to cultivate.