Wealth And Inequality News

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

According to a report by UBS, the next generation of billionaires has accumulated more wealth through inheritance than through their own work and entrepreneurship. Of the 137 people who became billionaires in the past year, 53 inherited a combined $150.8 billion, surpassing the $140.7 billion created by 84 self-made billionaires. UBS predicts that over the next 20 years, more than 1,000 billionaires will pass an estimated $5.2 trillion to their children. The report also highlights the growing significance of wealthy families across all major regions, with inheritors having higher average wealth than entrepreneurs.