Record $124 Trillion Wealth Transfer Surges with Rising Inheritance
The ongoing Great Wealth Transfer has seen an unprecedented surge, with a total of nearly $300 billion inherited in 2025. This remarkable figure marks a 36% increase from the previous year, according to the UBS Billionaire Ambitions Report. Despite the decline in the number of heirs, 91 individuals collectively inherited a record-high $297.8 billion this year.
Regional Breakdown of Wealth Inheritance
Western Europe led the pack, witnessing 48 individuals inherit a staggering $149.5 billion. Among these heirs are 15 members from two prominent German pharmaceutical families, showcasing wealth transfer across generations. The youngest heir in this group is only 19 years old, while the oldest is 94.
- North America: 18 heirs received $86.5 billion.
- South East Asia: 11 individuals inherited $24.7 billion.
This wealth transfer has contributed to an increase in multi-generational billionaires, now totaling 860, with aggregate wealth reaching $4.7 trillion. This marks a rise from 2024 when there were 805 billionaires holding $4.2 trillion.
The Future of Wealth Transfer
According to Cerulli Associates, global estimates suggest that $124 trillion will be transferred worldwide through 2048, a phenomenon termed the Great Wealth Transfer. High-net-worth and ultra-high-net-worth individuals are expected to account for a significant portion of this amount. Among billionaires, projections indicate around $6.9 trillion will be passed down by 2040, with at least $5.9 trillion directed toward their children.
While the Great Wealth Transfer appears to be accelerating, industry experts caution that it may not result in an immediate windfall. Tim Gerend, CEO of Northwestern Mutual, remarked that this wealth transition will likely unfold gradually and with increasing complexity, countering the notion of a sudden influx of wealth.
Emergence of New Billionaires
The wealth landscape continues to evolve, with 196 new self-made billionaires emerging in 2025, accumulating a total of $386.5 billion. This figure is just shy of the record set in 2021. It marks an increase from the previous year, which saw 161 self-made individuals with $305.6 billion in wealth.
New billionaires are not solely emerging from the tech sector; they represent diverse industries. Highlights include:
- Ben Lamm, co-founder of the genetics and bioscience company Colossal.
- Michael Dorrell, co-founder and CEO of infrastructure investment firm Stonepeak.
- Bob Pender and Mike Sabel, co-founders of LNG exporter Venture Global.
UBS emphasizes that a new generation of billionaires is forming at a time of geopolitical and economic uncertainty. Entrepreneurs are continuously innovating across various sectors, showcasing resilience and adaptability in today’s market.
