Billionaires increased in numbers and overall wealth last year, Swiss bank UBS said on Thursday, with the fortunes inherited by the newly-minted super-rich exceeding cash generated by self-made billionaires for the first time in years. The number of billionaires rose by 7% to 2,544 people globally, UBS said in its 2023 Billionaires Ambitions Report, with their total worth rising by 9% to an estimated $12 trillion.

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Reuters

United Kingdom

UBS sees shift in new billionaires away from entrepreneurs to inherited wealth

Billionaires increased in numbers and overall wealth last year, Swiss bank UBS said on Thursday, with the fortunes inherited by the newly-minted super-rich exceeding cash generated by self-made billionaires for the first time in years.

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Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago.

Warner Bros. Discovery

Atlanta

Fulton County

Georgia

United States

New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins

A report shows that, although those who became rich on their own are the majority among the new billionaires, they accumulated “only” US$ 140.7 billion, while the heirs raised US$ 150.8 billion

Relatório mostra que, embora os que enriqueceram por conta própria sejam maioria entre os novos bilionários, eles acumularam "apenas" US$ 140,7 bi, enquanto os herdeiros levantaram US$ 150,8 bi

Novos bilionários herdaram mais riqueza do que criaram, diz UBS

Globo

Roberto Irineu Marinho

Brazil

New billionaires inherited more wealth than they created, says UBS

By Hanna Ziady, CNN London (CNN) — Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago. And billionaire heirs are more likely than their parents to focus on the major opportunities and challenges facing the global economy, investing in sectors such as clean energy and artificial intelligence, …

KRDO

News-Press & Gazette Company

Colorado Springs

El Paso County

Colorado

"The great wealth transfer" is picking up steam as billionaires are acquiring more wealth through inheritance than entreprenuership

CNBC

Roberts family

New billionaires getting rich via inheritance rather than entrepreneurship in 'great wealth transfer'

CNN By Hanna Ziady, CNN London (CNN) — Billionaires minted in the latest year accumulated more wealth through inheritance than entrepreneurship for the first time since UBS started tracking the fortunes of the world’s richest almost a decade ago. And billionaire heirs are more likely than their parents to focus on the major opportunities and challenges facing the global economy, investing in sectors such as clean energy and artificial intelligen…

KVIA

Panama City

Bay County

Florida

Children of ultra-wealthy made more from handouts than entrepreneurs earned from their companies

The Telegraph

Press Holdings

David and Frederick Barclay

London

Greater London

England

Nepo baby billionaires outrank self-made moguls for first time

(Bloomberg) — UBS Group AG said heirs joining the ranks of the world’s richest over the past year had racked up more wealth than newly-minted self-made billionaires, in a sign that the transfer of family fortunes is becoming an ever-larger factor in the distribution wealth.

Financial Post

Leon Cooperman

Allianz

Canada

Heirs Beat Self-Made Billionaires for First Time in UBS Survey

A new wave of billionaires acquired more wealth through inheritance than entrepreneurship during the last year as a ‘great wealth transfer’ picks up steam, a new report by UBS found.

The West Australian

Kerry Stokes

Australia

PASS IT ON!: New billionaires getting rich via inheritance

The Swiss bank UBS released a report Thursday showing that a massive transfer of wealth from billionaire business founders to their heirs is underway and accelerating, with trillions of dollars in assets moving from those who accumulated fortunes through entrepreneurship to family members whose vast riches are owed to the simple accident of birth.In the 12-month period between April 2022 and April 2023, newly created billionaires acquired more w…

Raw Story

John K. Byrne

Michael Rogers (publisher)

Gilded age for billionaire offspring as $5.2 trillion wealth transfer accelerates

New billionaire heirs overtake self-made ones as $5.2 trillion wealth transfer begins

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