The change in wealth across generations is evident in the fact that, for the first time in fifteen years, none of Forbes’ billionaires under thirty are self-made.
A tendency of wealth transfer between families may be seen in the 18 out of 25 young billionaires who inherited their money.
Notable participants include the Mistry brothers, who inherited from their late grandpa, and 19-year-old Livia Voigt, who has a share in her family’s business.
The statistic is partly due to past self-made billionaires aging into their 30s, and not getting replaced by others in the same financial situation, the business magazine reported in an article titled “World’s Youngest Billionaires 2024.”
The hefty inheritances are also the start of what the outlet calls “a long-anticipated generational wealth transfer.”
“Trillions are expected to change hands every year as the affluent elderly pass away and leave their fortunes to descendants,” Forbes reported. [CONTINUE READING HERE]
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