Forbes: All billionaires under 30 in the world inherited their wealth

Firoz Mistry (27, pictured) and his brother Zahan (25), each have about $4.9 billion from their stakes in Tata Sons. (Source: MSN)

A recent study by business magazine Forbes said that all billionaires under 30 years old in the world are of the type that inherited their wealth.

According to the study, the first wave of “great wealth transfer” is coming, in which more than 1,000 wealthy people are expected to transfer more than $5.2 trillion in assets to their heirs over the next two decades.

There are now more billionaires in the world than ever before, with 2,781, a number that is expected to rise in the coming years as the older generation of super-rich prepares to pass on their fortunes to their children.

Forbes research says there are 15 billionaires in the world aged 30 and under, but none of them made their own fortunes and all benefited from huge inheritances.

Some notable names include Firoz Mistry, 27, and his brother Zahan, 25, who each have about $4.9 billion from their stakes in Tata Sons, the parent company of India's Tate Group.

The company owns several well-known car brands, including Jaguar Land Rover. They inherited a 4.6% stake in the company in 2022 after their father, Cyrus Mistry, passed away.

The three children of Leonardo Del Vecchio, founder of luxury sunglasses company Luxottica, became billionaires after his death in 2022.

Leonardo Maria (28 years old), Luca (22 years old) and Clemente Del Vecchio (19 years old) each inherited 12.5% of the shares in the above company. The three brothers have an estimated fortune of 4.7 billion USD each.

The world's youngest billionaire is Livia Voigt (19 years old), who has a fortune of 1.1 billion USD thanks to owning 3.1% of shares of WEG Industries, a Brazilian electrical equipment manufacturer co-founded by her grandfather Werner Ricardo.

Experts at Swiss bank UBS say that over the next 20 to 30 years, more than 1,000 billionaires today are likely to transfer more than $5.2 trillion to their heirs.

How did UBS calculate this figure? Simply by adding up the total assets of 1,023 billionaires aged 70 or older today.

In the long run, the wealth accumulated from the business boom since the 1990s has laid the foundation for future generations of billionaire families.

The world's richest man is majority owner of luxury goods conglomerate LVMH Bernard Arnault. He is 75 years old and has recently appointed his children to key roles in the group.

Mr. Arnault currently holds an estimated fortune of 233 billion USD, an increase of 10% compared to last year./.

According to VNA/Vietnam+

Source: https://www.vietnamplus.vn/forbes-tat-ca-cac-ty-phu-duoi-30-tuoi-tren-the-gioi-deu-nho-thua-ke-tai-san-post938347.vnp

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