By the year 2030, more than $15 trillion in wealth will be transitioned from one generation to the next. For organizations seeking to understand and engage with the world’s wealthiest individuals, A Generational Shift: Family Wealth Transfer Report 2019 provides unique intelligence to understand how current wealth patterns will evolve over the next decade.
For nearly a decade, Wealth-X has been tracking family wealth transfer issues as they pertain to the global ultra high net worth (UHNW) population. A Generational Shift: Family Wealth Transfer Report 2019 marks the first time we have produced a report on this subject that takes into account very high net worth (VHNW) individuals, or those with $5 to $30 million in net worth, alongside our continued focus on UHNW individuals, or those with a net worth in excess of $30 million.
A Generational Shift: Family Wealth Transfer Report 2019 leverages the Wealth-X global database of records on the wealthy to shed a spotlight on those individuals passing on wealth to the next generation. From this dataset, the largest of its kind in the world, Wealth-X identifies differences in this population based on wealth tier, geographic region, source of wealth, and gender.
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Key findings from the A Generational Shift: Family Wealth Transfer Report 2019, include:
- North America Leads – $8.8 trillion will be passed on in this region alone, a testament to the scale of wealth in the US. Europe possesses a slightly older wealthy population than the global average and will pass on a significant $3.2 trillion by 2030. Asia will account for just 12% of all wealth to be passed on, a total of $1.9 trillion, largely due to its substantially younger wealthy population.
- Growing Awareness – given that the majority of wealthy people around the world are over the age of 60, wealth transfer has become a greater priority.
- Concentrated Wealth – an estimated 18,500 individuals with a net worth of $100 million or more will be transferring a majority of this wealth – $8 trillion.
- Generational Shift – more-so than their elders, the inheritors of this wealth maintain a more global outlook, seeking not only to preserve this wealth but also to find meaning in the way they use and manage it.
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