Because he's too old.
It's ego, pure and simple. When his child is 15 he will be 80 - if he's still going. & to say he'll be financially secure is true - but there's no substiute for parental love. Money is not the be all and end all.
Well said. I find it amazing that so many seem to think that this child 'will not want for anything' - by which they must mean material possessions as the main requirement of good parenting.