"Do I need to go and, and really put 110 percent in what I want to do career-wise? I said not really 'cause I'm getting money anyhow," Marriott said.
Eventually, he was cut off from his father's estate. And now he says, he's glad because it gave him purpose. He took jobs building and sweeping chimneys, did landscaping and now has his own band The Strays and it's making money.
"You know … they'll feel a lot better about themselves if they make it, rather than just, have it given to them," said Ted Turner.
The billionaire believes it's important to instill a sense of purpose in kids, and he made his children go to work. "And they liked, it," Turner said. "Work was fun."
Taking it a step further, some rich parents don't want to even expose their kids to a lavish lifestyle.
"The idea that we could grow up as "spoiled, you know, punk rich kids" would have been a nightmare for both my parents," said Ben Goldhirsh.
His father earned his wealth founding magazines like "Inc." and "Sail", and was careful to teach Ben to think about the value of money. He even gave $20 million to his employees, and made his son listen to the grateful voicemails.
"He wanted me to appreciate the joy it gave him," Goldhirsh said.
By the time he was 23, both of his parents had died. Goldhirsh's father worried that passing an his fortune to his children might rob them of the satisfaction of earning money themselves.
But Goldhirsh did inherit the money. He used the inheritance to start his own magazine, "Good," and donates subscription fees to charity. His father taught him that work, and charity -- not money -- is the route to happiness.
"Happiness is all about like, "How am I going to be creative? How am I going to be productive?," he said. "I want to do the most with this."
"It boy" Basabe said he thinks his father believes he is doing the most with his life and his money, by sharing it with his son.
"I mean, who is he going to give it to?," Basabe said.
He said his father does give a fair amount to charity (like a nature preserve in the Galapagos Islands), but when asked if his father would give all his money away to charity, Basabe said, "You never know. Not likely."
This report originally aired on December 1st, 2007.