In an interview with The Sunday Times, Desmond said he wants his son Robert to go to university to learn everything he can about business before eventually succeeding him as chairman.
"I said to him, 'Your job is to preserve the cash. Every arsehole will be trying to nick it. So you need to be as educated as possible to understand'," he said.
News of Desmond's succession plans comes as he is named as the highest-paid newspaper proprietor in the business after paying himself a salary of £1m a week last year.
Because Northern & Shell is a privately owned company, Desmond is able to pay himself and directors whatever he wants. In 2004, the company's group turnover rose 13% to £471.5m, which made a profit before tax of £3.2m after £51.7m was taken off as chairman's remuneration.
Desmond started his career in advertising before launching his first publishing venture, International Musician, in 1974. In 1983, he did a deal with the publisher of Penthouse, agreeing to produce a British edition.
His interests also include television, where he markets the Fantasy Channel, set up in 1995 and a number of other soft porn channels.
In 2001, he took over the Express titles including the Star titles, and he launched OK! in 1993, as a rival to then market leader Hello.
He has also launched shopping magazine Happy and celebrity gossip magazine New in the last year.
In addition, Desmond is launching celebrity gossip magazine OK! in the US this week after setting aside over $100m for the launch.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
