Core Insights - The upcoming "Great Wealth Transfer" will see trillions of dollars shift from baby boomers to their heirs over the next two decades, with millennials and Gen Z projected to hold over a third of the world's ultra-wealth by 2040, up from 8% today [1][2] Group 1: Wealth Distribution - Baby boomers currently control over half of America's wealth, approximately $78.5 trillion, representing 51.8% of the nation's total [1] - By 2040, Generation X is expected to hold the largest share of wealth at 45%, while the share of boomers and the silent generation will decrease from two-thirds to just one-fifth [1] Group 2: Scale of Wealth Transfer - The wealth transfer in the U.S. is estimated to be between $68 trillion and $84 trillion, which is about three times the size of the entire U.S. economy in 2023 [2] - Inheritance is identified as the primary driver of this wealth transfer, with many heirs gaining access to wealth earlier due to increased use of trusts [2] Group 3: Generational Wealth Accumulation - Surveys indicate that 55% of millennials and 41% of Gen Z expect to inherit money or assets within the next five years [3] - Younger generations are accumulating wealth in different industries compared to their parents, with nearly 9% of the next generation's ultra-wealthy coming from technology, which is double the share of baby boomers [3] - The hospitality and entertainment sectors account for about 15% of younger ultra-wealthy individuals, contrasting with less than 5% from older cohorts [3] - In finance and investing, Gen Z and millennials represent about 20% of the sector, showing a shift towards private equity, direct investments, and sustainable assets [3] - Real estate remains consistent across generations, with millennials expected to significantly impact the housing market as they gain resources to purchase homes [3]