According to a recent report, high net-worth individuals will transfer $3.9 trillion—enough to purchase the ten largest companies in the world—to the next generation by 2026. The past 35 years have brought extraordinary wealth by billionaires with some 917 self-made billionaires. The biggest concern from these individuals was succession and inheritance issues. However, if these trends continue, we will see the average wealth skyrocket to $48 billion by 2043.
See Quentin Fottrell, The Largest Wealth Transfer in History Has Already Begun, MarketWatch, September 12, 2016.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
