In a first for the world of superyachts and Picasso auctions, new billionaires now inherit more money than they make.⁠ ⁠ According to a UBS report on some of its wealthiest clients, 53 heirs inherited $150.8 billion from deceased relatives in the year leading up to April 2023, eclipsing the $140.7 billion brought in by 84 new self-made billionaires over the same period. ⁠ ⁠ It marks the first time that billionaires have gotten richer from generational wealth than from entrepreneurship in the nine years since UBS started surveying its clients—who account for half of the world's billionaires. ⁠ ⁠ As more than 1,000 billionaires die in the next 20-30 years, UBS projects that their children will inherit $5.2 trillion. ⁠ ⁠ #billionaires #entrepreneurs #nepobaby #businessnews #finance