1 of 1 “In the next 20 to 30 years, more than a thousand billionaires will transfer around $5.2 trillion to their heirs,” says the Swiss bank Photo: Pixabay “In the next 20 to 30 years, more than a thousand Billionaires do this.” “Transfer around $5.2 trillion to the heirs,” says the Swiss bank Photo: Pixabay
The number of billionaires around the world and the total assets of the group increased to 2,544 people or 12 trillion US dollars (58.87 trillion R$), the Swiss bank UBS pointed out this Thursday (30). The period analyzed in the study is 1 year and ended on April 6, 2023.
And for the first time since the Billionaire Ambitions report began production in 2015, billionaires have amassed more wealth through inheritance than through work.
Of the 137 new billionaires, 53 people inherited a total of $150.8 billion (R$735.92 billion) last year. The wealth number is 7.17% more than the $140.7 billion (R$690.29 billion) that 84 new billionaires earned through work, the bank said.
UBS also said that while the wealth transfer has already begun, “this is just the tip of the iceberg.”
The bank also said: “Over the next 20 to 30 years, more than a thousand billionaires will transfer around US$5.2 trillion (R25.51 trillion) to their heirs. How do we calculate this number? We simply add up the wealth of the superpower rich people aged 70 and over”.
However, despite the great inherited wealth, this does not necessarily mean a new generation of superrich 20somethings.
“Often they are over 50 years old,” said Michael Viana, head of strategic client services at UBS. “Actually it’s more of a King Charles III effect, they’re pretty old too when they accept (the wealth).”
Still, according to UBS, which controls and oversees $5.5 trillion (R26.98 trillion) in investments and is one of the world’s largest asset managers, the biggest challenge for former billionaires is passing on to their heirs “the Values, training and experience required (to take over the company)”.
According to Forbes, the world’s youngest billionaire is 19 years old and is an heir. His fortune is currently estimated at US$9 billion (R44.15 billion). Clemente Del Vecchio is the son of Leonardo Del Vecchio, the tycoon who founded Luxottica, the largest eyewear brand in the world, and died in June 2022 at the age of 87 (see video below).
The richest man in the world, Elon Musk, CEO of Tesla, is 52 years old. The second richest man in the world, Bernard Arnault, CEO of LVMH, is 74 years old. And the third, Jeff Bezos, founder of Amazon, is 59 years old the three of them have accumulated most of their wealth through work.
Who is the 19yearold Italian who became the world’s youngest billionaire?