Billionaire Heirs Inherit Over $150B in 2022, Exceeding Entrepreneurship for First Time
• Billionaire heirs accumulated more wealth through inheritance than entrepreneurship for the first time in 2022, exceeding $150B • Over $5.2 trillion expected to be transferred from current billionaires to their heirs over next 20 years • Number of billionaires globally climbed 7% to 2,544 in 2022, but total wealth remains below 2021 peak • Europe led growth in billionaire wealth in 2022 due to luxury goods demand boosting fortunes of families like Bernard Arnault's • Heirs more likely to focus on impact investing over philanthropy compared to their billionaire parents