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Wealth And Inheritance

All articles tagged with #wealth and inheritance

wealth-and-inheritance2 years ago•1 min saved

Hermès Heir to Give $7 Billion Fortune to 51-Year-Old Gardener

Nicolas Puech, the 80-year-old heir to the Hermès fortune, is reportedly planning to give his $7 billion wealth to his 51-year-old gardener, whom he intends to legally adopt. Puech, who has no children of his own, has already initiated the adoption process with the gardener. He also plans to pass down $5.9 million in properties. Puech left the supervisory board for Hermès in 2014 and currently owns between 5% and 6% of the luxury brand.

via Fox Business|

#adoption #gardener #hermes

wealth-and-inheritance2 years ago•2 min saved

"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.

via CNBC|

#billionaires #entrepreneurship #generational-differences