I'm a billionaire with 8 kids. Here's how I avoid spoiling them — and my most important parenting rule

John Caudwell has eight children spanning decades in age. His youngest, pictured here with his partner, Olympic cyclist Vžesniauskaitė, are 2 and 5.

Courtesy of John Caudwell

• British billionaire John Caudwell has eight children, ranging in age from 2 to 47.
• From flying coach to wearing Zara, he's intent on raising grounded and hardworking kids.
• Here's Caudwell's approach to parenting — and his biggest piece of advice.

This as-told-to essay is based on a conversation with John Caudwell...