Women and members of Generation X are expected to emerge as the biggest beneficiaries of a £5.1 trillion ($6.6 trillion) transfer of billionaire wealth over the next decade, according to research by wealth-intelligence firm Altrata.
Almost 5,000 spouses and adult children are forecast to receive substantial inheritances by 2035, as fortunes built by an ageing generation of billionaires pass to their families and other beneficiaries.
The handover comes as the global billionaire population reaches a record 3,795 people, whose combined wealth stood at $15.1 trillion in 2025. Altrata estimates that 1,673 billionaires will pass on wealth during the next ten years.
Spouses are expected to account for about 1,370 of the direct beneficiaries, with women making up 90 per cent of that group. More than 1,235 female spouses are therefore likely to inherit sizeable fortunes, potentially narrowing the gender imbalance among the ultra-rich.
Women currently represent only 13 per cent of the world’s billionaires. Altrata said the shift in ownership could bring greater diversity to decision-making within family companies, as well as encouraging more female involvement in entrepreneurship, venture capital and philanthropy.
Generation X set to inherit billionaire fortunes
Although attention is often focused on younger millennials and members of Generation Z, the largest group of adult children in line to inherit is expected to come from Generation X.
The average age of an adult child heir is about 48, placing many of the likely beneficiaries firmly within the so-called latchkey generation. Almost a quarter, or 23 per cent, already work alongside their billionaire parent in the main family business.
They are unlikely to receive their inheritance solely in the form of cash. Assets are expected to include shares in listed companies, stakes in private firms, investment portfolios and property.
Some heirs will also be required to take on responsibility for businesses built over several generations. Manufacturing, consumer goods, retail, finance and real estate are among the sectors where family succession is likely to be especially significant.
The transfer could also alter the priorities attached to those fortunes. Younger and middle-aged heirs are generally more familiar with digital technology and may take a greater interest in climate-related investment, new technologies and strategies designed to deliver a measurable social impact.
Those priorities may not always align with the preferences of the older billionaires who created the wealth, making succession planning a central challenge for family offices and privately held companies.
North America will account for almost half of the transfer
North America is expected to see the largest flow of billionaire wealth, with 686 billionaires forecast to transfer about $3.3 trillion by 2035 — roughly 49 per cent of the global total.
About 2,120 direct heirs in the United States and Canada are expected to receive sizeable sums. Europe is forecast to account for a further $1.6 trillion, while Asia is expected to see around $1 trillion passed down.
The transfer will extend beyond spouses and children. Siblings, grandchildren, friends and associates, as well as charities, educational institutions and other non-profit organisations, may also receive part of the fortunes being distributed.
Altrata said the process would unfold against a backdrop of geopolitical tension, climate pressures and rapid technological change, including the continued expansion of artificial intelligence.
It warned that a more unpredictable and fragmented international system could complicate efforts by billionaire families to preserve their wealth and manage succession across borders.
But the firm said the disruption could also create opportunities for the next generation of billionaires in business, investment and philanthropy. As trillions of dollars change hands, heirs will have greater influence over how some of the world’s largest private fortunes are invested, spent and used.
