Being born into wealth certainly has its advantages, as evidenced by the large number of billionaires who inherited their fortunes, according to Forbes’ 2024 World’s Billionaires ranking. Roughly a third of the 2,781 individuals on the list inherited their wealth, collectively worth $5 trillion. This lucky group includes some of the wealthiest people in the world, such as Mukesh Ambani, Asia’s richest person with a net worth of $116 billion, who inherited part of his father’s textile manufacturing empire.
While many of the world’s richest individuals are self-made, there are some who started with at least a $1 billion inheritance. This includes 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. Others, like Mark Mateschitz, who became Austria’s richest person at 30 after inheriting his father’s stake in Red Bull, chose to take a back seat and focus on being a shareholder rather than actively running the company.
The rise of billionaire heirs can be attributed to aging billionaires in the Baby Boomer generation who are beginning to pass on their fortunes to the next generation. This year, there are 107 new heirs on the list, marking the first time since 2009 that every billionaire under 30 inherited their fortune. The youngest billionaire on the list is 19-year-old Brazilian heiress Livia Voigt, who inherited a minority stake in WEG, an electrical equipment producer.
Among the top richest billionaire heirs are individuals like Stefan Quandt, who owns a significant stake in BMW inherited from his father, and Germán Larrea Mota Velasco, who leads a mining conglomerate founded by his father. Other notable names include the Walton family heirs, who inherited their fortune from the Walmart founder, and the Mars siblings, who inherited Mars Inc. from their father. These heirs have continued to expand their family businesses and amass significant wealth.
In conclusion, while some billionaires may have inherited their wealth, many of them have proven themselves as successful business leaders in their own right. Whether they choose to actively work in their family businesses or focus on other ventures, these billionaire heirs have certainly capitalized on the opportunities presented to them. As the world’s wealthiest continue to age and pass on their fortunes, we can expect to see a new generation of super wealthy individuals emerge.
