British entrepreneur John Caudwell, whose net worth is estimated at $4.2 billion by Forbes, is known for his modest approach to family life. The founder of the now-defunct mobile phone retailer Phones 4u and Singlepoint, both of which he sold - has turned his attention to real estate investing while raising his three children with partner Modesta Vžesniauskaitė.
Eight Children, One Stepchild, Grounded Upbringing Caudwell is a father to eight children, including a stepchild, with ages spanning from 2 to 47. Writing for Business Insider, the 73-year-old revealed that his own childhood was marked by “next to nothing”, and he is determined not to overcompensate by spoiling his own children.
“I don't want my kids to have next to nothing, but I don't want to overcorrect the way that some rich people do,” he explained.
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Family life without nannies or luxuries Contrary to expectations of billionaire living, the Caudwell household is reportedly disciplined and hands-on. The family employs just two housekeepers, relying on school for education, structure, and entertainment. “We do most of the parenting and don't have nannies. I have two housekeepers who help out, but school is the real answer, from 9 am until 4 pm. That gives them discipline, entertainment, interest, and education,” he said.
Caudwell also revealed that he avoids extravagant spending on his children. They rarely fly private and often travel economy even when he books business class for himself. “For instance, when we go on the superyacht for a family holiday, that's mainly a treat for me,” he said.
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“The adult children have to make their own way to the boat. The younger ones travel in economy with Modesta — I'll take business class most of the time — and we take the budget airline easyJet. We have to demonstrate to them what normal life is like,” he added.