Bannatyne says that fortune will not go to children – ‘It’s not good for them’


By Oliver Farrimond

DRAGON’S Den mogul Duncan Bannatyne has said that he will not leave a penny of his vast fortune to his children.

Speaking in an interview, he has said that none of his six children will inherit his £310 million estate, and that all the money will go to charity.

He even admitted to freezing his daughter’s £400 a month allowance for several months after catching her smoking.

Speaking in an interview, he said: “It only lasted a couple of months before she persuaded me she wasn’t smoking, and I started making the payments again.

“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.”

He also spoke out about the worsening fraternal feud with his two brothers, who have accused him of calling them “lazy and unambitious” in his autobiography.

Brothers Bill and Sandy Bannatyne were among the first to join an ‘I Hate Duncan Bannatyne’ group on the social networking site Facebook.

Bannatyne denied making these comments, and traced the spat back to an incident at his wife’s 40th birthday party.

He said: “I invited my family – they came but they started a fight.

“There was free drink but some of them smuggled whiskey out under their coats at the end of the night.”

“One of them said – ‘Why doesn’t Duncan just give us a million pounds?’ – but that wouldn’t make them happy.”

He also had a typically blunt solution to Britain’s current economic woes.

He said: “I don’t want Bank A to lend to Bank B to lend to Bank C.

“I want them to lend to ME.”