Record Numbers Become Billionaires Through Inheritance in 2025, UBS Report Finds
In 2025, the global billionaire population reached 2,919, up from 2,682 in 2024, with 91 new billionaires emerging through inheritance. According to a UBS report, $298 billion was inherited in the 12 months to April, reflecting a multi-year wealth transfer expected to total at least $5.9 trillion over the next 15 years.
Among notable inheritances, six grandchildren of Goh Cheng Liang each inherited stakes in a public company worth over $1 billion. The report also highlights 196 self-made billionaires this year, whose combined wealth amounts to $386.5 billion.
The largest portion of future inheritance is anticipated to come from the United States, followed by India, France, Germany, and Switzerland. The United Kingdom ranks seventh, with projected inheritances totaling $164 billion over the next 15 years.
The report notes that footloose billionaires may relocate based on quality of life, geopolitical concerns, and tax considerations, which affects where wealth is maintained. Taxation changes are varied: France voted against a proposed 2% wealth tax on fortunes over €100 million; Switzerland rejected a 50% tax on fortunes exceeding £47 million; Italy plans to increase the levy by 50% to €300,000 annually starting in 2026; while the UK ended non-domiciled tax status and proposed a 'mansion tax' on homes valued over £2 million.
At the G20 summit, Spain, Brazil, Germany, and South Africa supported a minimum 2% tax on the super-rich to address inequality. Studies suggest that such a tax could raise up to $250 billion. Additionally, there are calls for a global minimum 15% corporate tax.
A correction was issued clarifying a previous UBS figure error, revising the global billionaire figure from 9,919 to the accurate 2,919.
