Mick Jagger would rather give $500 million Rolling Stones catalogue to charity than his kids

Mick Jagger has hinted he would rather give the sale of his musical back catalogue to charity rather than his children.

All the A-listers in the world who have started a family are faced with the inevitable dilemma of inheritance.

Some celebrities have gone on the record to say their kids won't get a cent of their vast fortune because they want them to create their own wealth.

And The Rolling Stones frontman might have just added his name to that seemingly growing list.

The 80-year-old original rock star spoke to The Wall Street Journal ahead of the band's latest album, Hackney Diamonds, which is their first work of original music in nearly two decades.

He was asked whether The Rolling Stones would follow other bands and artists who have sold the rights to their music.

Over the past few years, there have been loads of musicians who have cashed out big time.

David Wolff-Patrick/Redferns

Imagine Dragons got $100 million for their back catalogue, the Red Hot Chili Peppers earned $150 million, David Bowie's sold for $250 million...the list goes on.

Considering The Rolling Stones is one of the most successful bands of all time, you can expect their price tag to be high.

And Jagger estimates it to be half a billion dollars.

But when he was quizzed on whether a sale of that magnitude would help set up his eight children comfortably for life, he threw a bit of a curve ball.

"The children don’t need $500 million to live well. Come on," he said, adding that the money would preferably go to charity. “You maybe do some good in the world."

However, it's a moot point because at this stage he has no plans on selling the back catalogue.

Jagger says if you look even further into the future, he wonders whether The Stones will continue after he's dead.

“You can have a posthumous business now, can’t you?" he said to The Wall Street Journal.

"You can have a posthumous tour.

"The technology has really moved on since the ABBA thing, which I was supposed to go to, but I missed it."

If you're asking why music artists are suddenly selling the rights to their music for hundreds of millions, let us explain.

Variety music editor Jem Aswad told ABC News says it's a smart move for older artists because 'can help with estate planning to take the burden off their heirs once they’re gone'.

Topics: Music, Money

Stewart Perrie

Stewart Perrie is a Senior Journalist at LADbible. Stewart has covered the conflict in Syria for LADbible, interviewing a doctor on the front line, and has contributed to the hugely successful UOKM8 campaign. He is in charge of the LADbible Australia editorial content and social presence.

@stewartperrie