Wealth And Inheritance News

"The Power of Inheritance: A Billionaire's Path to Wealth"

A new report by UBS reveals that a "great wealth transfer" is underway, with more billionaires acquiring wealth through inheritance rather than entrepreneurship. In the past year, 53 heirs received a total of $150.8 billion, surpassing the $140.7 billion earned by 84 new self-made billionaires. This trend is expected to continue, with an estimated $5.2 trillion in wealth set to be passed down in the next few decades. However, generational differences in opinion regarding wealth and legacy may pose challenges, with younger billionaires expressing a desire to reshape and reposition their inherited wealth. The report also highlights variations in risk appetite and philanthropic goals among different generations of billionaires.