Martin Roll was featured in an exclusive CNBC interview on family offices and how Gen X and millennials are changing the face of investing and impact as they inherit over USD 80 trillion.
Millennials (ages 27 to 42) and Generation X (ages 43 to 58) stand to be the biggest beneficiaries of the wealth transfer, and are expected to inherit about USD 85 trillion between 2024 to 2048.
Generation Z and younger generations (ages 27 and younger) are expected to inherit over USD 15 trillion.
The majority of wealth transfer will come from high-net-worth (HNW) and ultra-high-net-worth (UNHW) families, who together make up around 2% of all households. These families are expected to contribute to over 50% of the transfers, or about USD 62 trillion.
Traditionally, family offices were primarily managing wealth and equity stakes from the companies that business families control through the family office. It would generally be tied up in real estate, public equities and overall, it would be a passive portfolio.
Today, family offices are increasingly making direct investments into private companies and causes like climate, enery, human progress and other related matters. The next generations are a significant driver of the changes in capital allocation and portfolio strategy in family offices.
Read the interview: How Gen X and millennials are changing the face of the traditional family office as they inherit over $80 trillion
About Martin Roll: Martin Roll – Global Family Office & Family Business Expert
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