When it comes to working hard and playing even harder, few did it better than Sir Elton John .

But the superstar once famed for his extravagance is a changed fellow.

The 68-year-old legend’s lavish spending habits have been transformed by his love for his two sons – but he says he will not be leaving them every penny of his estimated £200million fortune.

Instead the star and his husband, David Furnish , insist the boys, Zachary and Elijah, must stand on their own two feet.

Sir Elton says: “Having children changed everything about my life. I’ve learned that the simplest things in life – like having a minute with them – are worth more than any painting, any photograph, any house or any hit record.

“Before we had the children we just had our lives, and would spend money because we didn’t have anything else to focus on. We have really toned things down because we have enough stuff. There is nothing else we need.”

Sir Elton has sold more than 300 million records worldwide in a career spanning five decades.

With fame have come the houses, yachts, artwork, designer wardrobes and jewellery.

But the couple are resolute in their desire to bring up their children to be as grounded as is
realistically possible.

Sir Elton goes on: “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.

“Listen, the boys live the most incredible lives, they’re not normal kids, and I’m not pretending they are. But you have to have some semblance of normality, some respect for money, some
respect for work.”

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The couple are currently drafting their wills and David cites US tycoon Warren Buffett , who is leaving half his £53billion fortune to charity and considerably less to his children, as their inspiration.

He says: “We’re still working out the details and it’s about finding the balance.

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