Billionaires seem to be waiting to invest, according to Wealth-X, which says billionaires increased their liquid holdings this year by an average of $600 million.
“The massive wave of intergenerational wealth transfer from baby boomers to their heirs is underway, and this has had a profound impact on the world’s billionaire population: Billionaires with partially inherited wealth are the fastest growing segment of this population,” says Wealth-X.
“Yet, one of the common characteristics of the world’s billionaires is their entrepreneurialism. In most instances, achieving billionaire status requires more than just inheritance; 81 percent of billionaires made the majority of their fortunes themselves,” the study concludes.