Group 1 - The report indicates a new wave of wealth creators and inheritors is emerging, reshaping family connections, collaboration models, and cross-border opportunities [1] - By 2025, the number of self-made billionaires is expected to reach the second-highest level in the report's history, driven by entrepreneurs and heirs amid a global wealth transfer [1] Group 2 - North America remains the preferred investment destination, although its attractiveness has decreased from 80% to 63% among billionaires for the highest investment returns in the next 12 months [2] - In contrast, Western Europe has seen an increase in attractiveness, with 40% of billionaires viewing it as a top investment opportunity, up from 18% in 2024 [2] Group 3 - Over 42% of billionaires plan to increase their allocation to emerging market stocks in the next 12 months, indicating a recovery in this sector [5] - In developed markets, 43% of billionaires intend to increase their stock allocations, while 7% plan to reduce exposure [6] Group 4 - In the private equity market, 49% of billionaires plan to increase direct private equity exposure, while 20% plan to decrease it [7] - For hedge funds, 43% of billionaires intend to increase their allocation, reflecting a growing interest in this asset class [8] Group 5 - Infrastructure and precious metals are areas of focus for billionaires, with 35% increasing investments in infrastructure and 32% in gold/precious metals [9] Group 6 - The number of billionaires is projected to increase by 8.8% to 2,919 by 2025, with total wealth reaching a record high of $15.8 trillion, a 13% increase [13] - The Asia-Pacific region is expected to see significant growth, with the number of billionaires rising from 981 to 1,036 [13] Group 7 - In 2025, 196 self-made billionaires will emerge, with a total wealth of $386.5 billion, driven by innovation across various sectors [22] - The report highlights that 91 heirs will inherit a record $2.978 trillion, marking a 36% increase from the previous year [17][26] Group 8 - The report predicts that by 2040, approximately $6.9 trillion in wealth will be transferred globally, with at least $5.9 trillion expected to be passed to heirs [30] - The majority of wealth transfer is anticipated to occur in the U.S., with significant amounts also expected in India and China [30][31]

Core Insights - The number of billionaires globally has reached a record high of 2,919, with a total wealth of $15.8 trillion, marking a 13% increase from the previous year [1][3] - In 2025, 287 new billionaires were created, the second-highest annual increase since 2021, with a more diversified wealth source across various industries [3] Group 1: Billionaire Demographics - The United States remains the dominant country, housing nearly one-third of the world's billionaires (924 individuals), with their total wealth rising by 18% to $17.5 trillion over the past year [3] - Three-quarters of U.S. billionaires are self-made, highlighting a strong culture of innovation and entrepreneurship [3] Group 2: Wealth Transfer Trends - A significant "intergenerational wealth transfer" is underway, with 91 individuals becoming billionaires through inheritance, receiving nearly $300 billion in total wealth [3] - An estimated $5.9 trillion in assets is expected to be transferred from current billionaires to their children and spouses over the next 15 years [3] Group 3: Changing Perspectives on Wealth Management - Billionaire families are shifting their views on inheritance, increasingly opting for professional managers or selling businesses instead of passing them directly to their children [4] - This change is driven by the recognition of globalization and industry disruption, emphasizing the importance of adaptability and education for the next generation [4] Group 4: Investment Strategies - Despite signs of market overheating, billionaires remain optimistic about stocks, with 43% planning to increase their holdings in public equities over the next 12 months [4] - There is a divided sentiment regarding private equity, with half planning to increase direct investments, while 28% intend to reduce their private equity holdings due to poor returns and exit difficulties [4] - A notable trend is the adjustment in investment preferences, with optimism for U.S. investment opportunities dropping from 80% to 64%, while confidence in European and Chinese markets has significantly increased [4] Group 5: Global Migration Trends - Over one-third (36%) of billionaires have relocated, primarily seeking better quality of life, including climate, healthcare, and family reunification, followed by geopolitical considerations and tax planning [5]