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UBS Says Billionaires Hit Record 2,919 as AI Gains Propel $5.9 Trillion Inheritance Wave

UBS projects roughly half of the next 15 years’ transfers will occur in the United States, underscoring how tech-driven fortunes are concentrating wealth.

Overview

  • Global billionaire wealth reached $15.8 trillion, a 13% increase over 12 months, according to UBS’s 2025 snapshot.
  • Assets held by tech billionaires rose about 24% to $3 trillion, with six U.S. tech fortunes up a combined $171 billion linked to AI exposure.
  • In the 12 months to April 2025, 91 heirs inherited $297.8 billion, a 36% year-on-year jump despite fewer inheritors.
  • UBS estimates at least $5.9 trillion will pass to heirs over 15 years, with regional projections of about $2.8 trillion in the U.S., $1.3 trillion in Europe, $382 billion in India, and $316 billion in China.
  • UBS reports 287 new billionaires in 2025, including 196 self-made with 87 from the U.S., while a client survey highlights tariffs, geopolitical tensions, and policy uncertainty as top risks.