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The next generation is all set to get richer. The wealth that ultra high net worth individuals are going to bequeath in the coming years is expected to be the largest ever, according to a report by Wealth-X, and Arton Capital. In the next ten years, 15,800 super rich will transfer $4.1 trillion of wealth to the next generation.
This amount will quadruple to $16 trillion — larger than the GDP of the US — in the next 30 years, when close to a lakh super wealthy will transfer their wealth to their children. The countries expected to transfer the most wealth, as a share of their current wealth, include France, Hong Kong and Italy. But countries such as China, which have only recently witnessed a spurt in wealth creation, will play a smaller role in this generational transfer. Ultra high net worth individuals in the study are defined as those with a net worth of $30 million and above.
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