One American billionaire is more than 80 – while millennials await the great transfer of wealth

In fact, one in five billionaires is already in the 80s and 90s, according to an analysis of Forbes. In America alone, there is a record of 36 billionaires which are over 90 years old.

Wilma Tisch, 98, has a net value of $ 2 billion. She inherited her wealth of her husband and her brother who launched Lowes Corp in 1946 when Laurence Tisch convinced her parents to invest $ 125,000 to buy a resort in Lakewood, New Jersey. Then there is Alice Schwartz, who, at 99, has a net value of $ 2 billion. She is one of the founders of Bio-Rad Laboratories, a science and diagnostic company that she launched with her husband in 1952.

And although many ultra-rich can afford to spend their days playing golf or taking care of their rosules, some aging billionaires are still in their offices.

Take George Joseph for example, the founder of the insurance company Mercury General has a net value of $ 2.3 billion and is still working to work at the age of 103. The Second World War veteran is actively involved in the company and has a property of around 35%. He should be 104 years old next week and is the oldest billionaire in America.

And despite the announcement of his retirement from the bar of Berkshire Hathaway at 95, billionaire Warren Buffett insisted that he was not going to sit and “watch soap operas”. Instead, he wants to remain committed with his commercial passions.

While billionaires’ “young people” (under 50) represent only 10% of the billionaire population, around 150 of them are in the 1980s, including the former CEO of Victoria’s Secret Les Wexner and the former mayor of New York and co -founder of Bloomberg Michael Bloomberg.

Aging billionaires can be beneficial for the great transfer of wealth

All this can be good news for certain millennials and the genres which are about to benefit from one of the greatest transfers of wealth in history; With the oldest generation of workers who stay longer, this pot will only grow.

In the current state of things, the “big transfer of wealth” should flood 124 billions of dollars of active ingredients and wealth of baby boomers to younger generations, according to a Cerulli report.

The oldest work cohort was, at their peak, the greatest living generation in world history seizing the property and investing in the booming stock market to accumulate their fortune. Their families can expect to inherit the majority of this wealth, around 105 billions of dollars, with only 18 billions of dollars estimated to go to the charitable organization.

More than half of the total total volume of transfers, 62 dollars, should come from the highest levels of the company, many of which are billionaires and ultra-rich.

For the lucky 2% of all households, the report noted that the millennials will inherit the most over the next 25 years, around 46 billions of dollars.