Second gen inheritors on the rise

At a time when many are becoming self-made millionaires with startups and ventures, Wealth-X's latest report shows you can't rule out inherited wealth. While the share of people with 'old money' has considerably come down, the trend will see an upswing in the coming decade with over two per cent increase in emerging markets.

Most of the wealth in Asian markets is new and will be passed on to the next generation for the first time, which the report termed as 'Old new money'. In total, $4.1 trillion will be transferred globally by UNHW (ultra high net worth) individuals over the next decade, including $1.2 trillion in liquid assets, the report states. It's this group of second generation wealthy individuals that is set to grow in strength.