Overview
- UBS reports 91 people became billionaires through inheritance in the 12 months to April, receiving $298bn, the highest since its tracking began in 2015.
- The bank forecasts $5.9tn will pass to billionaire heirs over the next 15 years, led by transfers in the United States followed by India, France, Germany and Switzerland.
- UBS counts 9,919 billionaires worldwide this year, while 196 self-made entrants added $386.5bn in new wealth.
- Billionaire relocations are driven by quality of life, geopolitical concerns and tax considerations, with Switzerland, the UAE, the US and Singapore among preferred destinations.
- Swiss voters rejected a 50% tax on very large inheritances by 78%, as other countries take divergent paths including France voting down a 2% wealth levy and the UK ending non-dom status.