This year, Forbes released its 2024 World’s Billionaires list, showcasing the incredible wealth amassed by individuals around the globe. Among these billionaires, a significant portion, roughly one-third, inherited their riches. These 934 heirs collectively hold a staggering $5 trillion in wealth, an increase from the previous year’s $4.1 trillion. These heirs owe their fortunes to a variety of industries, from cement to candy bars, and have used their resources to attend top schools, start their own businesses, or simply enjoy the dividends and investment returns from their inheritances.
While the majority of the world’s richest individuals are classified as self-made, there are seven billionaires in the top 25 who inherited at least $1 billion. These include individuals like Françoise Bettencourt Meyers, the richest woman in the world with an estimated net worth of $99.5 billion, who inherited shares of the cosmetics giant L’Oréal from her grandfather. Another notable heir is Mukesh Ambani, Asia’s richest person with a net worth of $116 billion, who inherited part of his father’s textile manufacturing empire and expanded it into a $110 billion conglomerate.
Some heirs choose to take an active role in growing their inherited empires, like Mukesh Ambani, who expanded Reliance Industries into a multi-faceted giant in industries such as telecom, retail, and oil and gas. Others, like Mark Mateschitz, choose to step back and let others run the show after inheriting stakes in companies like Red Bull. The rise of heirs on the billionaire list can be attributed to aging billionaires from the Baby Boomer generation beginning to pass on their wealth to the next generation, creating a new cohort of super wealthy individuals.
Among the youngest billionaires on the list are heirs like Livia Voigt, a 19-year-old Brazilian heiress with a minority stake in WEG, a leading electrical equipment producer. Other young billionaires include Swedish sisters Sofia and Marta Schörling Högberg, who inherited a majority of Melker Schörling AB, an investment firm started by their late father. These young heirs represent a new generation of wealth accumulation, with every billionaire under 30 on this year’s list having inherited their fortune.
The list of the 20 richest billionaire heirs includes individuals from various countries and industries, showcasing the vast wealth amassed through inheritances. Names like Stefan Quandt, Lukas Walton, and Abigail Johnson feature among the top heirs with significant net worths inherited from family businesses like BMW, Walmart, and Fidelity Investments. These heirs not only manage their inherited wealth but also contribute to their respective industries through investments and philanthropy, further solidifying their positions among the world’s richest individuals.
At the top of the list is Mukesh Ambani, Asia’s richest person, with a net worth of $116 billion. Inheriting India’s largest fortune from his father, Ambani has expanded his empire into various sectors, solidifying his position as a global billionaire. Other notable heirs like Françoise Bettencourt Meyers, Alice Walton, and David Thomson also feature among the top billionaire heirs, showcasing the incredible wealth accumulated through inheritance. As the trend of wealth transfer continues, it will be interesting to see how the next generation of heirs further expand their family legacies and fortunes.
