Serena Williams and Alexis Ohanian are two names that scream success, power, and, let's be honest, a whole lot of zeroes in their bank accounts. As one of the greatest athletes of all time and the co-founder of a social media behemoth, they could easily shower their two daughters, 7-year-old Olympia and 1-year-old Adira, with every imaginable luxury. But instead, this power couple is taking a refreshingly grounded approach to raising their kids, starting with a weekly allowance that might surprise you: a mere $7 for Olympia!
Yes, you read that right. Seven dollars. A week. And according to Ohanian, the negotiation process for this seemingly small sum was anything but simple. In a hilarious reveal on X, Ohanian, 42, shared that Olympia had to enlist her own legal counsel – none other than her fiercely competitive mother, Serena! "She gets $7 a week. Serena was her lawyer in the negotiation," Ohanian quipped, adding, "I drew up a real contract ... Her mom was her counsel, which was really frustrating." Imagine being on the other side of the negotiating table from Serena Williams, even if it's over seven bucks!
There's a clear and deliberate philosophy behind this modest allowance. Olympia doesn't just get handed her weekly cash; she has to earn it. Ohanian explained that their little entrepreneur-in-training has to complete chores five days a week, including essential tasks like feeding the family dog, putting her clothes in the hamper (a universal parenting battle!), and making her bed. This isn't about making Olympia a tiny servant; it's about instilling a fundamental understanding of the connection between effort and reward.
Ohanian shared a charming story that perfectly illustrates this principle. When Olympia had diligently saved up $100, she set her sights on a $125 watch. Instead of simply bridging the gap with their own funds, Serena and Alexis encouraged her to close the $25 difference herself. This, Ohanian explained, allowed Olympia to "embrace that feeling" of hard work leading to a tangible reward. Their goal is to create a "flywheel between doing the work and getting the money," a crucial lesson for any child, regardless of their family's financial status.
It's clear that Serena and Alexis's own backgrounds have heavily influenced their parenting approach. Both were go-getters from a young age. Serena, the highest-earning female athlete of all time, stepped onto the professional tennis court at just 14. Ohanian was a mere 23 when he co-founded Reddit, which was acquired for a cool $10 million just a few years later. They understand the value of hustle and the satisfaction of building something from the ground up.
With Serena's estimated net worth soaring around $340 million and Ohanian's also substantial, they could easily provide their daughters with a life of unparalleled ease. However, they recognize the potential pitfalls of raising children without a sense of financial responsibility. Balancing their comfortable lifestyle with a touch of frugality is a conscious effort to instill the same drive and work ethic that propelled them to success.
Ohanian poignantly stated that he needs Olympia "to feel that little bit of pain of, like, 'Ugh, I gotta wait two more weeks for that paycheck,' and then start to remember, 'Because I do this work, I get this money.'" This isn't about deprivation; it's about building a crucial "work = reward" muscle, a fundamental understanding that good things come to those who put in the effort.
Parenting experts wholeheartedly agree with this approach. Margot Machol Bisnow, who interviewed the parents of 70 highly successful adults for her book "Raising an Entrepreneur," noted that while these parents never pushed their children towards high-paying jobs, they all made a concerted effort to teach their kids about money in various forms.
Mellody Hobson, co-CEO of Ariel Investments and author of "Priceless Facts About Money," echoes this sentiment, emphasizing the importance of using physical cash when children are around. The tangible act of exchanging paper money or coins conveys the value of a dollar far more effectively than swiping a card or tapping a phone. As Hobson wisely pointed out, for children in today's digital age, money can seem abstract and limitless when it's just a number on a screen. Using cash helps them understand that it's finite and directly tied to work.
Serena Williams and Alexis Ohanian's approach to raising Olympia isn't about denying her a comfortable life; it's about equipping her with the essential life skills of responsibility, hard work, and financial literacy – values that will serve her far beyond any trust fund. Their $7 secret is a powerful reminder that even in the realm of extreme wealth, the most valuable lessons are often the most grounded. They're not just raising children; they're cultivating future entrepreneurs and responsible citizens, one chore and seven dollars at a time. Now that's what we call parenting goals!
