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Wealth And Finance

All articles tagged with #wealth and finance

wealth-and-finance2 years ago•3 min saved

The Rise of Inherited Wealth: Billionaire Heirs Surpass Self-Made Ones

Billionaire heirs have surpassed self-made billionaires in wealth accumulation through inheritance for the first time, according to a report by UBS. The report also highlights that billionaire heirs are more likely to invest in sectors such as clean energy and artificial intelligence. UBS predicts that over the next 20 years, more than 1,000 billionaires will pass an estimated $5.2 trillion to their children. The number of billionaires globally has increased by 7% to 2,544, with their combined wealth rising 9% to $12 trillion. Europe led the growth in billionaire wealth, while technology and healthcare billionaires have accumulated the greatest wealth over the past decade. The transfer of wealth to younger generations presents both opportunities and risks for UBS, and the changing of the guard could impact charitable giving.

via CNN|

#billionaires #entrepreneurship #inheritance

wealth-and-finance2 years ago•2 min saved

"New Forbes Report Reveals Wealthiest Individuals in New York, Texas, Florida, and Greece"

Michael Bloomberg, co-founder of Bloomberg LP, tops the Forbes 400 list as the wealthiest person in New York with an estimated net worth of $96.3 billion. Elon Musk takes the overall top spot with a net worth of $251 billion, thanks to his companies Tesla, SpaceX, and X. The list includes notable firsts, such as Michael Jordan becoming the first professional athlete on the Forbes 400. Texas' Alice Walton is the wealthiest woman on the list with a net worth of $66.5 billion.

via WUTR/WFXV - CNYhomepage.com|

#elon-musk #forbes-400 #michael-bloomberg

wealth-and-finance2 years ago•2 min saved

From Greeks to Georgians: America's Wealthiest in 2023

In 1983, a net worth of $2 billion would make you the richest person in America, but today you would need close to $3 billion just to crack the top 400. Elon Musk holds the title of the richest person in America for the second year in a row with a net worth of $251 billion, while Jeff Bezos trails behind with $161 billion. The wealth gap between the richest individuals and the average American is vast, with U.S. households having a median net worth of just $166,900.

via CNBC|

#elon-musk #forbes-list #net-worth

wealth-and-finance2 years ago•2 min saved

"Unveiling the 2023 Forbes 400 Self-Made Score: A Spectrum of Success Stories"

The 2023 Forbes 400 list of the richest people in America reveals that 70% of the members have built their own fortunes, while 30% inherited their wealth. Forbes assigns each billionaire a self-made score ranging from 1 to 10, with 1 to 5 indicating inheritance and 6 to 10 representing self-made success. Notable self-made billionaires include George Soros, Howard Schultz, and David Murdock, who overcame significant adversity. The most common score is 8, with nearly 80% of the Forbes 400 either inheriting their wealth or coming from a middle-class background.

via Forbes|

#billionaires #forbes-400 #self-made-score