Unprecedented $2-3 Trillion Wealth Transfer in Crypto Market: A Historic Asset Shift Featuring Bitcoin (BTC)
- Ernst & Young (EY) reports a massive transfer of wealth from baby boomers to their descendants, with an estimated $3 trillion in assets changing hands this year.
- This wealth transfer is expected to continue until the start of the next decade, with a transformative impact on female and next-generation inheritors.
- However, EY warns that many beneficiaries may lack the necessary knowledge and experience to manage their newfound wealth effectively.
Ernst & Young reports a historic transfer of wealth from baby boomers to their descendants, with potential implications for the global economy and wealth management industry.
Unprecedented Wealth Transfer Underway
According to EY’s Global Wealth Management Industry Report, an estimated $3 trillion in assets will be passed down from baby boomers to their descendants this year. This “tidal wave” of wealth transfer is expected to continue until the start of the next decade, with estimates suggesting that between $2 trillion and $3 trillion will be inherited from wealthy donors by 2024. The report also notes that more billionaires were created by inheritance than by entrepreneurship in 2023.
Impact on Female and Next-Generation Inheritors
The report highlights that this wealth transfer will not only be the largest in human history but will also have a transformative effect on female and next-generation inheritors. It is estimated that wealthy donors will pass down approximately $18 trillion, roughly equivalent to China’s annual GDP, to beneficiaries by 2030. However, these estimates are ... Read the full article for FREE at COINOTAG!
