The Great $110 Trillion Wealth Transfer

A global megatrend now under way. 

More than $60tn of wealth in the US alone will pass into the hands of Gen Z and millennials before 2048



High-rise residential buildings in Aldgate, east London. Almost 90 per cent of those aged between 21 and 45 want to invest more in alternative assets such as private equity and real estate. 

© Mike Kemp/In Pictures/Getty Images

While a large share of wealth is expected to pass first to spouses and older heirs, it will subsequently cascade to younger generations. 

At the same time, rapid developments in AI and a flurry of initial public offerings are expected to breed even more millionaires and billionaires.


Older Americans are sitting on $110 trillion of wealth. 

The two generations that hold the most wealth are 

Baby boomers, who are between age 61 and 80, and Gen X, who are between 45 and 61.

When they do die, many will pass wealth first to their spouses. Boomers are still getting windfalls from their own elderly parents. 

Older Americans’ wealth has grown by an outsize amount in the past few decades. Many of these people bought stocks or started businesses long ago, and those have soared in value over the years. 

In the fourth quarter alone, boomers gained over $1 trillion in wealth, more than any other group. 

Wall Street Journal 4 May 2026

https://www.wsj.com/articles/the-great-110-trillion-wealth-transfer-wont-happen-any-time-soon-e8b2ef31


Many of these older homeowners paid off their mortgages on properties that have appreciated tremendously in value.

https://englundmacro.blogspot.com/2024/06/baby-boomers-bought-up-many-of-big-homes.html


De närmaste åren ska bostäder till ett värde av 2000 miljarder ärvas.

https://englundmacro.blogspot.com/2025/11/de-narmaste-aren-ska-bostader-till-ett.html


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