Record Numbers Becoming Billionaires Through Inheritance in 2025, UBS Report Finds
The global count of billionaires reached 2,919 in 2025, up from 2,682 in 2024. In the 12 months to April 2025, 91 individuals became billionaires through inheritance, inheriting a total of $298 billion. Notably, six grandchildren of Goh Cheng Liang each inherited stakes in a public company worth more than $1 billion.
In 2025, there were 196 self-made billionaires with a combined wealth of $386.5 billion. UBS forecasts that at least $5.9 trillion in inheritance will be transferred over the next 15 years. Most of this inheritance wealth is expected to come from the US, followed by India, France, Germany, and Switzerland. The UK ranks seventh, with about $164 billion expected over 15 years.
However, wealth mobility influenced by quality of life, geopolitics, and tax considerations could alter the geography of wealth transfer. Various countries have differing approaches to taxing inherited wealth: France rejected a proposed 2% tax on fortunes over €100 million, Switzerland rejected a proposed 50% tax on inherited fortunes of £47 million or more, Italy plans to raise the levy by 50% to €300,000 a year from 2026, while the UK ended non-domiciled status and announced a mansion tax on homes valued over £2 million. Spain, Brazil, Germany, and South Africa have backed a minimum 2% tax on ultra-wealthy inheritances.
