Jackie Chan’s Legacy: Why His Son Won’t Get Any Of His $350M Fortune
Jackie Chan has amassed a fortune of over $350 million throughout his long and successful career. However, the star revealed that his only son, Jaycee Chan, will not inherit any of his father's wealth. Jaycee is no stranger to controversy, and this story is no different!
Fans are wondering why, and the answer is pretty surprising.
Jackie's plan for his fortune
In 1982, Jackie married his wife, Joan Lin, and that same year she gave birth to their son, Jaycee Chan.
Originally, Jackie had stated that he would donate half of his fortune to charity and leave the other half for his son.
Jackie changed his tune
Jackie revealed that his son was no longer going to receive half of his fortune – he wasn't going to receive any of it!
Some fans wondered if his son's past controversy was to blame.
Jaycee's legal trouble
In 2014, when Jackie was on the political advisory board for the Chinese government and served as an anti-drug ambassador.
That same year, Jaycee was arrested and then jailed for possession of a controlled substance.
Jackie didn't give up on his son
"I would like to take this opportunity and say to Jaycee: you've done something wrong, and you have to be responsible for the consequences," his statement continued.
"I'm your dad, and I'll always be with you. We will face the road ahead of us together."
"When I first heard the news, I was absolutely enraged," Jackie said in a statement. "As a public figure, I feel very ashamed; as his dad, I'm very sad and disappointed."
"But the person who feels heartbroken the most is his mom."
Jackie Chan's incredible fortune
Jackie Chan is considered one of the most successful actors in the world, with an estimated net worth of $350 million. In 2015, he was ranked by Forbes as the second highest-paid actor in the world.
That might seem surprising if you don't live in China!
Jackie's career is illustrious
Jackie has starred in over 150 films like Rush Hour, Shanghai Noon, and The Karate Kid and is also a director, singer, producer, and stuntman.
He has also created branded merchandise, a Chinese cinema chain, and lots more.
Jackie's fame is immense
"Jackie Chan is basically the Mickey Mouse of Chinese culture, a celebrity who is so omnipresent that his name has become shorthand," Grady Hendrix, co-founder of the New York Asian Film Festival, has said.
But he hasn't let his success go to his head!
Jackie's humble beginnings
Jackie was born to parents who were Chinese Civil War refugees and trained in martial arts and drama from a very young age.
His first film appearances were at the age of 5!
Jackie's career beginnings
Jackie was enrolled in the China Drama Academy at the age of seven, where he trained in martial arts, acrobatics, singing, and acting.
He graduated from the academy at the age of 17 and began working as a stuntman in Hong Kong films.
Jackie's big first impression
Jackie had worked as a stuntman on the film Fist Of Fury, starring legendary martial artist and actor Bruce Lee, but it wasn't until the two met again, filming Enter The Dragon, that Jackie really made an impression.
Of course, that impression came after Bruce accidentally hit him in the face during a scene!
Jackie's first big success was in 1978
In 1978, Jackie had his first big success on the silver screen with a movie called Snake In The Eagle's Shadow, which helped him establish his slapstick style of kung-fu fighting.
Later that same year, he had a similar hit with Drunken Master.
Jackie's star began to rise
Throughout the 1980s, Jackie Chan continued to star in successful films, such as Project A, Police Story, and Armour of God.
He became known for his unique blend of comedy and action and his innovative use of stunts, which often involved performing dangerous and complex acrobatics without the use of wires or special effects.
Jackie Chan's international success
In the 1990s, Jackie Chan began to gain recognition in the United States and Europe. He starred in a number of Hollywood films, including Rumble in the Bronx, Supercop, and Rush Hour.
Rush Hour and its two sequels would solidify Jackie's international fame.
Jackie's other talents
Jackie isn't just a wildly successful actor — he's a prolific singer as well! Jackie has released over 20 albums with over 100 songs sung in over five languages.
He would also sing the theme song for some of his films!
Jackie has a ton of other ventures
From his film production company to his cinema chain to his clothing line, Jackie Chan has branched out and put his name on many different brands and products.
It's easy to see how he amassed his fortune!
Jackie's only heir
While Jackie technically has two children, his daughter, Etta Ng Chok Lam, was born from an extra-marital affair and is estranged from the Chan family.
You might think that means Jackie's son Jaycee would stand to inherit all of Jackie's fortune alone, but that's not the case.
The real reason Jaycee is cut from the inheritance
The reason Jackie isn't leaving any of his vast fortune to Jaycee has nothing to do with Jaycee's legal troubles or with Etta.
"If he is capable, he can make his own money," Jackie has said. "If he is not, then he will just be wasting my money."
Jackie believes Jaycee should earn his own money
Jaycee is an actor and a singer in his own right, and Jackie believes that if Jaycee wants success, he should have to work for it.
Jackie also said he wished he had enrolled Jaycee in the army in his youth to "temper his character."
Jaycee is well on his way
While Jaycee hasn't publicly commented on his father's plans, he seems to be doing pretty well, earning his own way!
His net worth is currently estimated to be around $2 million.
Jaycee follows in his dad's footsteps
Jaycee is both an actor and musician like his father, having released two albums and having worked on over twenty films.
Also, like his dad, Jaycee has had numerous endorsement and brand deals to help him earn his own money.
Jackie's attitude isn't uncommon
It seems like more and more celebrities are making the call not to leave their entire fortunes to their kids when they retire!
Instead, these celebrity kids will have to figure out how to earn their own keep.
Gordon Ramsay is also on board
World-famous celebrity chef Gordon Ramsay has revealed he's not leaving his fortune to his kids, either.
"It's definitely not going to them, and that's not in a mean way; it's to not spoil them," he said.
Even billionaire Bill Gates buys into this philosophy
Bill Gates, the former richest man in the world, has a similar philosophy when it comes to leaving money to his kids. "It's not a favor to kids to have them have huge sums of wealth," he said.
"It distorts anything they might do, creating their own path."
Simon Cowell is also choosing to leave his money to charity
"I don't believe in passing on from one generation to another," the legendary producer and TV personality said.
"Your legacy has to be that, hopefully, you gave enough people an opportunity so that they could do well, and you gave them your time, taught them what you know."
Marie Osmond also agrees
Talk show host and singer Marie Osmond revealed on her show that she would also not be leaving any of her money to her kids.
"Congratulations, kids," she told them on air.
Marie called it a disservice
"My husband and I decided that you do a great disservice to your children to just hand them a fortune because you take away the one most important gift you can give your children, and that's the ability to work," she said.
That's a refreshing attitude!
Elton John has also said his sons aren't getting his fortune
"Of course, I want to leave my boys in a very sound financial state. But it's terrible to give kids a silver spoon. It ruins their life," Elton said.
Elton has two sons, Zachary and Elijah, born in 2010 and 2013.
Anderson Cooper knows this from the opposite side
Newscaster Anderson Cooper is the son of Gloria Vanderbilt, a famous and very wealthy heiress.
"My mom's made it clear to me that, like, there's no trust fund," Anderson said. "There's none of that."
Anderson was very grateful
"I don't believe in inheriting money…I think it's a curse," he said. "From the time I was growing up, if I felt like there was some pot of gold waiting for me, I don't know if I would have been so motivated."
It looks like Jackie's philosophy that his son should earn his own money is pretty popular!