All billionaires under 30 have inherited their wealth.
The Guardian reports that all of the world’s billionaires younger than 30 inherited their wealth, the first wave of “the great wealth transfer” in which more than 1,000 wealthy people are expected to pass on more than $5.2tn (£4.1tn) to their heirs over the next two decades. There are already more billionaires than ever before (2,781), and the number is expected to soar in the coming years as an elderly generation of super-rich people prepare to give their fortunes to their children.
The richest person on the planet is the majority owner of the luxury goods conglomerate LVMH, Bernard Arnault. He is 75 and has recently promoted his children to key roles in the business. Arnault has an estimated fortune of $233bn, a 10% increase on last year.
