The singer also revealed on BBC Radio 4’s Today programme that the day gay marriage becomes legal he will wed his civil partner David Furnish to celebrate how far British society has come.
Despite his fame and fortune, Sir Elton’s latest album warns against the pitfalls of stardom and he has claimed that for young musicians the music business is not all it is cracked up to be.
“Unless you have got real gravitas and you have earned your corn it is going to be hard for you to stay sane, it is going to be hard for you to maintain your career and you may end up being a bitter nonentity,” he said.
Luckily he only found fame at 23, he said, but for young stars like Justin Bieber, 19, it is tough to deal with the limelight which prevents them from having a childhood.
Sir Elton said: “I wouldn’t want to be Justin Bieber or any of those young artists, it is tough on them.
“Television and video have done a lot of damage to music. (Talent shows) propel people into stardom that aren’t ready for it and can’t sustain it and they are as only as good as their next song and I hate that.
“I hate people being cast aside; it breaks my heart to see people like Michelle McManus who won Pop Star, whatever it was, it is not fair.”
He said that he had never watched the reality shows, pioneered by Simon Cowell, and pointed out that The Voice had never produced a hit record on either side of the pond.
Instead the shows are all about watching the judges, and the singers are “nonentities”, he said.
Sir Elton’s latest album The Diving Board is due to be released in September and, at 66, he is still doing 120 shows a year.
But the father-of-two said that will all change soon when Zachary, two, and Elijah, five months, need to start school as he will have to reassess his diary.
“I can’t be away from them, things will have to change,” he said.
He and David, 50, decided to have children after seeing a young boy in an orphanage in Ukraine who they were unable to adopt because of the law.
The couple now have two sons, and Sir Elton said: “It has made me the happiest person in the world.”
But the pair, who became one of the first couples to tie the knot in a civil ceremony on the first day it became legal, still plan to make changes to their family when gay marriage laws are passed.
“I will be there on the first day it happens,” Sir Elton promised.
“It is something that we have been given as gay people, a lot of gay people in the world don’t even have the right to exist practically, in Uganda and places like that, in the Soviet Union.
“The fact that we have been given these chances by the British Government is something that’s joyous and I am very grateful for.
“If this happens I will be there, I don’t want a big grandiose thing, I just want to go to the registry office.
“But I would like to do and to say listen, we have been given this and years ago people had to have miserable lives because they were afraid of their sexuality. Embrace it, be thankful, and set an example and say yes this is how far Britain has come as a society and I am very proud of that.”
UK Readers can hear the rest of the interview on BBC 4 Radio from 7pm local time.