1、Thought leadershipFamily Wealth Transfer 2024 Delinian Limited and its affiliated companies.May 2024.This publication is for your information only and is not intended as an offer,or a solicitation of an offer,to buy or sell any product or other specific service.All information and opinions indicated

2、 are subject to change without notice.Brian Alster Chief Executive Officer Manuel Bianchi Senior Vice President and Global Head of SalesAmanda Cifone Senior Marketing DirectorLead authors Maya Imberg Senior Director,Head of Thought Leadership and AnalyticsMaeen Shaban Director of Research and Analyt

3、icsDesignStephanie Warburton Director of Visual CommunicationsDawn Lastre Visual Communications SpecialistFamily Wealth Transfer 2024ContributorsDArcy Fellona Client Success Manager,Financial Services and Luxury Emmanuella Modilim Vice President,Global Head of Client SuccessEden Willis Senior Direct

4、or,Head of Financial ServicesContentsAltrata|Family Wealth Transfer 202401 Executive summary 102 Introduction 203 An increasing focus on wealth transfer 304 The great handover during the next decade 505 Signs of the times 1006 Profiling the next decades ultra wealthy donors 1307 Methodology 2008 Abo

5、ut Altrata 21Executive summarySome 1.2 million individuals worth more than$5m are expected to pass on collective wealth of almost$31trn over the next 10 years.This sum is greater than the GDP of the US and is more than 10 times the market capitalization of technology giant Microsoft.01Individuals wi

6、th a net worth of more than$100m will account for almost half of the$31trn being passed on.The value of wealth being transferred will vary enormously across the different wealth tiers.The very high net worth(VHNW)individuals with fortunes of between$5m and$30 will account for 87%of all the people tr

7、ansferring this wealth.The remaining 13%,ultra wealthy individuals with$30m+,will pass on 64%of the total wealth.The next decades beneficiaries have a stronger interest in environment and healthcare causes than those who are passing on this wealth.While the popularity of the favorite causes is mostl

8、y similar with education being the most popular field for philanthropic donations followed by the arts and social welfare what comes across starkly is that the beneficiaries have a higher level of engagement in all of the top causes.Generation X will be first in line to inherit from their wealthy pa

9、rents.Much is often made in the media of millennial and Generation Z inheritors but,in fact,most heirs(excluding partners)are currently in their mid-to-late 40s.Millennials and the younger Gen Z are more likely to receive sums from their grandparents legacies that will often be less substantial than

10、 if they had been inherited from their parents.Family wealth transfer will be influenced by shifting global trends and an increasingly complex geopolitical environment.Some major trends include complex succession planning for increasingly globalized wealthy families(underlining the crucial role of e

11、xpert advisors),the disparity between the values,experiences and aspirations of wealth holders(often founders)and their younger benefactors,and an increase in wealth being passed on during the lifetime of the head of a family rather than solely upon death,requiring early engagement and preparation.W

12、ealthy donors in North America and Europe will together account for 71%of global wealth transfers up to 2033.Individuals with$5m+in net worth in North America will pass on more than$14trn a 46%share;Europe comprises a 22%share,passing on$7.4trn.Despite Asia being home to more wealthy individuals tha

13、n Europe,just a fifth of wealth transfers will be in Asia due,in large part,to the donors younger average age(except in Japan).Altrata|Family Wealth Transfer 2024|1 02IntroductionWith over a quarter of wealthy individuals expected to pass on their fortunes in the next decade to 2033,these individual

14、s and their families values and approach to wealth transfer have significant implications for a wide range of organizations from family offices and financial services providers,to the luxury goods industry and the non-profit and charity sectors when it comes to future donor engagement.Altratas lates

15、t global wealth transfer report powered by Wealth-X data examines the growing focus among the wealthy on succession planning and the transition process.Our forecasts highlight the staggering level of wealth to be passed on in the period to 2033,including across different wealth tiers and on a region

16、al basis.Our focus is on the global population of wealthy individuals with a net worth of more than$5m,with a particular emphasis on those with fortunes in excess of$100m.We discuss the major themes and generational shifts that will influence the wealth transfer process and donor engagement over the

17、 coming years as families seek to ensure a successful legacy transition.Adding deeper insight,we draw on interviews with four senior Altrata sector specialists,providing deeper insight into the challenges posed by recent extreme market shocks,contrasting intergenerational views,the motivations of th

18、e younger wealthy generation,and shifting trends in the timeline of wealth transfers,as well as in donor and advisor engagement.We then profile in detail the wealthy individuals who will be passing on their fortunes over the next decade,providing a fuller understanding of demographic characteristics

19、,wealth source,industry focus and social interests,which can all influence and shape an individuals approach to,and outlook on,wealth preservation and succession planning.Altratas comprehensive data provides unrivaled insight into the wealthy individuals who will be passing on significant fortunes,t

20、heir characteristics and the emerging challenges and opportunities in the wealth transfer landscape,making it an essential read for all organizations that target and provide services to the wealthy.Key definitionsVery high net worth(VHNW)individuals Those with a net worth of$5m-$30m.Ultra high net w

21、orth(UHNW)individuals Those with a net worth of$30m+,also referred to as the ultra wealthy.Donors Individuals passing on their wealth.Beneficiaries Individuals inheriting this wealth.Altrata|Family Wealth Transfer 2024|2 With the strong expansion of the global wealthy population in recent decades,in

22、cluding a surge in first-generation wealth,issues relating to succession planning and legacy transition have gained increasing prominence.For many wealthy families,the heightened uncertainty and health risks during the Covid-19 pandemic will have served as a catalyst to focus on and,in some cases,ac

23、celerate their wealth transfer strategy.The next 10 years will see significant growth in the number of wealthy estates passed on to the next generation,through lifetime giving and inheritance on death.This will take place in a world of rising complexity,tense geopolitics,and major environmental and

24、technological change,presenting a challenging environment(as well as new opportunities)for wealthy families and the professionals who advise them.Passing on substantial wealth can be an intricate and emotional process,often involving the transition of ownership and management of one or more business

25、es,property and other luxury assets,as well as non-commercial interests such as philanthropic foundations or art collections.The increasingly global spread of wealthy families and their investments adds a complicating factor,as does the number of people involved,ranging from those passing on their f

26、ortunes,their spouses,children,siblings,grandchildren,friends and associates,to other stakeholders such as advisors in the legal,financial and philanthropy spheres.Family dynamics will tend to be one of the biggest hurdles to overcome in the transition process,given often contrasting intergeneration

27、al worldviews,business outlooks and legacy aspirations.More often than not,succession will not only involve the handover of family wealth but also a transfer of values.An increasing focus on wealth transferMajor aspects of family wealth transfer planningFamily governanceBusiness transitionPhilanthro

28、pyFinancial and investment managementReal estate and luxury assetsReporting,legal,tax and othersWealth protection/Wealth transfer/Wealth enhancementAltrata|Family Wealth Transfer 2024|3 03While wealth preservation and succession planning are relevant issues for many,this report focuses on the transf

29、er of wealth in an exclusive group of individuals those with a net worth of more than$5m.This wealthy population totals nearly 4.4 million worldwide,collectively holding assets worth in excess of$88trn.We expect that over a quarter of these individuals will seek to pass on their fortunes in the next

30、 decade to 2033,which will involve the transfer of a staggering level of wealth.Generational attitudes to business,investment,social issues and philanthropy have implications for all manner of asset markets and luxury goods industries,as well as for the role of family offices and future donor engage

31、ment by the non-profit and charity sectors,especially when targeting those in the very highest wealth tiers.Altrata|Family Wealth Transfer 2024|4 An increasing focus on wealth transferAltrata|Family Wealth Transfer 2024|4 04The great handover during the next decadeThe growth of the number of multi-g

32、enerational wealthy families is gathering momentum.Some 1.2 million individuals with a net worth of$5m or more are expected to transfer their fortunes over the next 10 years.This equates to more than a quarter of the current global wealthy population($5m+),underlining the scale of this upcoming tran

33、sition and the potential for a significant reshaping of wealth-creation and legacy-building strategies by the next generation.In total,we forecast that almost$31trn of collective wealth will be transferred by 2033.This is a colossal sum,greater than the gross domestic product of the US($27.4trn in 2

34、0231),the worlds largest economy,and more than 10 times the market capitalization of US technology giant Microsoft,the worlds most valuable company at the time of writing2.Wealth transfer by those with$5m+in net worth to 2033Note:The data is pre-taxation and any other regulatory requirements.Source:

35、Wealth-X,an Altrata company,20241.2mNumber of individuals with$5m+passing on wealth$30.9trnTotal wealth to be passed on$Global wealth transfer over the next decade1.2 million individuals with$5m+will be passing on their wealth over the next decade.Altrata|Family Wealth Transfer 2024|5 1 US Bureau of

36、 Economic Analysis.2 https:/ transfers by tier top heavyThe value of estates being transferred will vary enormously across the different wealth tiers,given the highly uneven distribution of net worth among the$5m+wealthy population.Just over half of the forecast 1.2 million wealth transfers over the

37、 next decade will be by individuals with a net worth of between$5m and$10m.Another third will involve those with fortunes of between$10m and$30m.Overall,the VHNW class is expected to account for 87%of all individual transfers by 2033,with their collective net worth of$11.1trn comprising just over a

38、third(36%)of the total wealth being passed on.Despite being much fewer in number,approximately 155,000 UHNW individuals are forecast to pass on a cumulative$19.9trn.Around a third of the individuals in this ultra wealthy cohort have a net worth in excess of$100m so,for them,the average size of hando

39、ver scales up considerably.Global wealth transfer to 2033 by wealth tierNote:The data is pre-taxation and any other regulatory requirements.Source:Wealth-X,an Altrata company,2024Number of individuals passing on wealth$5,967bnWealth tier$1bn+$100m-$1bn$30m-$100m$5m-$30mTotal wealth to be passed on$8

40、,983bn$4,937bn35,840117,6831,379Wealth transfer by tier1,061,095$11,056bnSome 37,000 individuals with a net worth in excess of$100m will transfer a collective$13.9trn in wealth by 2033.At the very top of the wealth pyramid,we expect 1,380 billionaires to redistribute their wealth over the next decad

41、e.This exclusive group will account for just 0.1%of the total number of wealth transfers but a startling 16%(almost$5trn)of the collective net worth being passed on an illustration of the highly skewed distribution of wealth.This implies an average transfer of$3.6bn per billionaire.Altrata|Family We

42、alth Transfer 2024|6 The great handover during the next decadeDonors in North America will account for half of the global wealth transfers over the next decade.Of the 1.2 million wealthy individuals globally passing on their fortunes over the next decade,49%will be from North America,collectively tr

43、ansferring estates worth a total of$14.1trn(a 46%share).This is a testament to the scale of wealth held in the US,the country with by far the worlds largest populations of VHNW and UHNW individuals,and also reflects a slightly older wealth demographic compared with most other regions.Wealth transfer

44、s by regionNote:The data is pre-taxation and any other regulatory requirements.The total of the regions may not equal the global total,as a result of rounding.Source:Wealth-X,an Altrata company,2024North AmericaLatin America and the CaribbeanMiddle EastAfricaAsiaPacificGlobal wealth transfer by regi

45、on to 2033 by those with$5m+in net worhWealth transfer by regionEuropeNumber of individuals passing on wealthWorld1,215,996$1,296bn30,672$214bn8,320$524bn27,374$1,288bn45,113597,309268,701238,508$30,944bnTotal wealth to be passed on$14,104bn$7,437bn$6,081bnSome 270,000 wealthy donors in Europe are f

46、orecast to pass on a cumulative$7.4trn by 2033,with the region accounting for 22%of all wealth transfers.A fifth of wealth transfers will be in Asia.This region has a larger number of VHNW and UHNW individuals than Europe but,with the notable exception of Japan,the average age of wealthy individuals

47、 across the Asian continent is younger than in almost all major western markets.This gap is narrowing,given the aging demographic trends in a number of Asian countries(not least in China),but it will be a decade or more before the regions share of global wealth transfers is on a par with that of Eur

48、ope.Looking outside the big three regions,the average transfer per wealthy individual in the Middle East,at around$42m,is forecast to be the largest of any region.North America and Europe will together account for 71%of global wealth transfers to 2033.Altrata|Family Wealth Transfer 2024|7 The great

49、handover during the next decadeIn all major regions,donors with a net worth of$100m+will account for 40-50%of total transferred wealth.In each region and mirroring the global total it will be the individuals with$100m+in net worth who pass on the greatest amount of cumulative wealth by 2033,despite

50、comprising a minor share of the wealthy population in each case.In North America,the$100m+cohort will account for 43%of all wealth transferred in the region over the next decade.This is a similar share to Asias and slightly below that of Europe(48%).The standout is the Middle East,where around 60%of

51、 the cumulative wealth to be passed on by the wealthy will be by individuals with$100m+fortunes.This is reflected,to some extent,in the average size of the estate being transferred.In North America,the average wealth transfer in the$100m+tier amounts to$379m,around the global average.This is higher

52、than in Asia($345m)but lower than the$433m in the Middle East(and also below that in Latin America and Africa).Note:The data is pre-taxation and any other regulatory requirements.Source:Wealth-X,an Altrata company,2024North AmericaLatin America and the CaribbeanMiddle EastAfricaAsiaPacificWealth tra

53、nsfer by region to 2033 by those with$100m+in net worhWealth transfer by the top tierEurope$13,920bnNumber of individuals passing on wealth37,218Total wealth to be passed on$650bn1,440$791bn1,828$95bn208$163bn613World7,4689,71515,946$6,046bn$3,599bn$2,576bnAltrata|Family Wealth Transfer 2024|8 The g

54、reat handover during the next decadeWho stands to receive this substantial wealth over the next decade?While partners,children and philanthropic organizations are often the more likely recipients,others include siblings,grandchildren,friends and associates.Focusing just on children,much is often mad

55、e in the media of millennial and Generation Z heirs but,in fact,Generation X will be first in line to inherit from their wealthy parent(s).At a global level over the next decade,the current average age of the children who will be inheriting hovers around the mid-to-late 40s.The average age differs a

56、cross regions,reflecting the wealth dynamics and family structures of each region and the age of its wealthy population.Millennials and the younger gen Z,for now,are more likely to receive sums as grandchildren,which will often be less substantial.BeneficiariesThe next generation of wealthy inherito

57、rsCurrent average age of the children who will be inheriting wealth from their wealthy parent(s)over the next decade by regionSource:Wealth-X,an Altrata company,202446.1North America47.646.0Europe47.946.8Asia48.742.6Africa49.944.2Pacific50.343.0Middle East50.444.8Latin America and the Caribbean50.6F

58、rom VHNW parentsFrom UHNW parentsGeneration X will be the first in line to inherit from their wealthy parent(s)over the next decade.Altrata|Family Wealth Transfer 2024|9 The great handover during the next decadeSigns of the times05While the fundamentals of wealth transfer planning and its processes

59、tend to be largely stable,shifting global trends and an increasingly complex geopolitical environment imply a need for regular adaptation in response to emerging challenges and opportunities.This applies equally to the wealthy passing on their fortunes and to the companies and advisors who serve the

60、m.Drawing on interviews with four senior Altrata sector specialists,here we highlight a number of major themes that will influence and shape the progression of legacy planning and donor engagement over the coming years.A volatile worldThe substantial transfer of family wealth over the next decade is

61、 set to occur in a period characterized by more frequent geopolitical conflict,rising political populism,heightened trade restrictions,widespread anti-elite and anti-immigrant sentiment,more extreme climate events and growing fiscal pressures from aging populations.Structural trends such as the gree

62、n-energy transition,expanded industrial incentives(primarily aimed at boosting domestic economies),increased regionalization,greater defense spending,and broadening adoption of generative artificial intelligence will add to the complexity of succession planning for increasingly globalized wealthy fa

63、milies.Such trends will,however,present new opportunities for business ventures,asset diversification and philanthropic activity for the next generations.I think a lot of organizations have matured in the past few years and better understand the importance of looking beyond that single client or fam

64、ily head,focusing more on their wider circle of trust and all individuals with a stake in the wealth transfer process.“Manuel Bianchi,Senior Vice President and Global Head of Sales,AltrataThis mix of economic uncertainty,political polarization and a stronger focus among many prospective heirs on soc

65、ial issues and the environment has the potential to reveal stark intergenerational differences.These may lead to conflict over the distribution and future ownership of family wealth.Complications could also arise in the transition process for portfolios with cross-border exposure to multiple countri

66、es legal and tax regimes,which are constantly in flux.Volatile geopolitics(and the rapid expansion of ultra wealth)has spurred a clear trend over the past decade for greater diversification of assets across geographies,industries and financial instruments,bringing rewards but also heightened exposur

67、e risks.All of these factors underline the challenges of securing an intergenerational legacy,the crucial role of expert advisors,and the importance of putting in place clear and comprehensive wealth transfer plans.Altrata|Family Wealth Transfer 2024|10 Generational shift?Personal interests and moti

68、vations inevitably evolve over time and,from an individual perspective,as a person ages and their total wealth evolves.The generation gap is a constant.A growing proportion of children mostly from Generation X(born between the mid-1960s and the early 1980s)but also Millennials(born early 1980s to la

69、te 1990s)are set to inherit substantial wealth over the next decade and have a different mindset to their older(wealthy)peers.These prospective heirs are,at the very least,more aware of(and influenced by)issues relating to technological change,the environment and social justice than any previous gen

70、eration(see page 19).While generalizing to a degree,there is also a broad acknowledgement among those serving the wealthy that they are more global having often lived,worked or studied in more than one country more digitally aware,highly mobile and more activist than their elders.Amid shifting econo

71、mic trends,it is to be expected that new technologies,the clean-energy transition and impact investing will be a focus of many heirs ambitions,which may not necessarily align with a familys existing business structures or the legacy plans of those transferring their fortunes.This is especially the c

72、ase when substantial family wealth is being passed on for the first time(an increasingly common scenario in parts of Asia and the Middle East).In such instances,the disparity between the values,experiences and aspirations of wealth founders and their younger benefactors can often be greater than in

73、established,multi-generational wealthy families.The younger generations are very focused on charity and foundations.This doesnt necessarily imply larger donations,but there is certainly stronger engagement and an interest in wanting to be more involved with the work of organizations and seeing their

74、 impact over time.“DArcy Fellona,Client Success Manager,Financial Services and Luxury,AltrataAltrata|Family Wealth Transfer 2024|11 Signs of the timesThe earlier the better seeking consensusTraditionally,most wealth transfers took place on the death of those passing on their fortunes.However,there h

75、as been a gradual shift in this timeline,with more significant levels of wealth now being passed on during the lifetime of the head of a family.In some cases,this is simply for practical,logistical or tax-planning reasons.However,amid the strong global expansion of wealth,the differing values and pr

76、iorities of younger generations,and an ever-rising number of potential investment opportunities,more families are choosing to start the handover process at an earlier stage to empower and better prepare their heirs for financial stewardship by transferring limited amounts of wealth to oversee.More t

77、han ever,younger generations need to be convinced about the nature of succession plans rather than simply being told them,underlining the importance of finding a common purpose among family members.It is no easy task to ensure future assets are distributed in a way that is considered relatively equi

78、table and effective by all those involved while sustaining the familys values(or taking them in a new direction).As noted above,the next generations will have fresh views about business,investment and philanthropy.Some individuals will be keen to explore new ventures more aligned to the modern world

79、,while others may prefer to step away from their families businesses and holdings entirely.Those passing on wealth may get their assumptions wrong about what role their children or grandchildren want to take in the familys fortunes,so honest conversations at the earliest possible stage are essential

80、 to reduce potential conflict in the future.The degree of preparation made for wealth transfer often has little correlation with the level of an individuals or a familys wealth.In essence,it boils down to an openness to engage,while understanding that unlike many financial and legal transactions,pre

81、parations for a smooth and enduring handover of wealth should be an evolving process.Early engagement is similarly key among those providing services to the wealthy and seeking charitable donations.There is a growing acknowledgement of the importance of identifying and building rapport with those wh

82、o will be inheriting wealth,as opposed to the more traditional focus on the head of the family and primary business.Its imperative to engage as early as possible to understand family dynamics and each individuals business roles and interests,taking a very holistic approach to identify connections an

83、d build trust.“Emmanuella Modilim,VP,Global Head of Client Success,AltrataAltrata|Family Wealth Transfer 2024|12 Signs of the timesProfiling the next decades ultra wealthy donorsWhile the personal circumstances,family bonds,business interests and estate structures that influence wealth transfer plan

84、ning will be unique to each individual,valuable insights can be gained when examining the characteristics of the super rich benefactors who will be passing on their fortunes over the next decade.Demographics,wealth source and tier,primary industry focus and leisure interests can all influence and sh

85、ape an individuals approach to,and outlook on,wealth preservation,succession planning and philanthropic engagement.Here we examine these characteristics in relation to UHNW donors,with a special focus on those with$100m+in net worth.Altrata|Family Wealth Transfer 2024|13 06Altrata|Family Wealth Tran

86、sfer 2024|13 About 90%of those transferring wealth over the next decade are men.The heavily male-dominated gender split among donors(and across wealth tiers)mirrors that of the general wealthy population.Female representation is highest in the VHNW class,falling to just below 10%among those with mor

87、e than$100m in net worth.North America and Asia have the highest proportion of wealthy women passing on their fortunes over the next decade,although regional differences are generally modest.In practice,many spouses will be closely involved in their partners wealth transfer plans,albeit influenced b

88、y family dynamics and cultural norms around the world.GenderAmong the individuals who will be passing on wealth,only about 10%are women.Gender Proportion of men and women among those passing on their wealth to 2033 by wealth tierSource:Wealth-X,an Altrata company,2024$100m+90.7%Men9.3%Women$30m-$100

89、m89.2%Men10.8%Women$5m-$30m84.6%Men15.4%WomenAltrata|Family Wealth Transfer 2024|14 Profiling the next decades ultra wealthy donorsTwo-thirds of wealthy donors are aged over 70.The current average age of those transferring their estates over the next 10 years is 75,with approximately a quarter aged

90、over 80.Representation of this age group tends to rise the higher the wealth threshold almost a third of donors with a net worth of$100m+are aged over 80,which compares with around a fifth of VHNW individuals.Asia has the lowest average age of wealthy donors,with the contrast to other regions most e

91、vident in the$100m+wealth tier,where the share of individuals aged 80+is 10 percentage points lower than in the other main wealth centers of Europe and North America(the latter,together with Latin America,shows the highest average age).While the wealth transfer process naturally implies a focus on a

92、n elderly demographic,such variations in the age profile of donors highlight the importance for those providing succession-planning services to tailor their strategies and conversations accordingly.Age profileAge Current age of ultra wealthy donors passing on their wealth to 2033 by wealth tierSourc

93、e:Wealth-X,an Altrata company,20247070-8080+26.3%30.7%43.3%44.2%25.1%30.4%$30m-$100m$100m+76.375.2Average ageAbout a third of donors with$100m+are currently over the age of 80.Altrata|Family Wealth Transfer 2024|15 Profiling the next decades ultra wealthy donorsMost donors made their own wealthThe e

94、xtent to which donors have created or inherited the bulk of their fortunes can have a considerable influence on their priorities in the succession-planning process and their aspirations for the next generation.About 80%of all those passing on their fortunes over the next decade have predominantly se

95、lf-made wealth.The role of inheritance is more evident in higher wealth tiers,usually in combination with some self-created wealth.A quarter of donors with a portfolio of$100m+have benefited,in part,from inherited money a reflection of the often significant impact that an initial injection of capita

96、l can have on subsequent wealth-generation capacity.Fewer than 10%of the next decades donors have been solely reliant on inheritance.Focusing just on the UHNW class,our analysis of three specific and mutually exclusive archetype groups3(see box for definitions)shows that corporate executives compris

97、e 70%of all ultra wealthy donors over the next 10 years(with the value of their estates representing 60%of this cohorts total transferred wealth).A fifth of UHNW donors are entrepreneurs,who will account for almost a third of transferred wealth,reflecting their higher average net worth compared with

98、 corporate executives.In line with the overall donor population,the share of UHNW sole inheritors is modest at 7%.Wealth sourceUHNW archetypesCorporate executives are those who hold high-earning and high-level corporate executive roles,and who have not generated the bulk of their wealth via inherita

99、nce or entrepreneurship.Entrepreneurs have accumulated most of their personal wealth through founding(or co-founding)and owning business ventures.Sole inheritors are UHNW individuals solely on account of inheriting substantial wealth.Wealth transfer by archetypeProportion of UHNW individuals passing

100、 on their wealth to 2033 by archetypeNote:UHNW refers to ultra high net worth,individuals with$30m+in net worth.Source:Wealth-X,an Altrata company,2024Proportion o UHNW wealthto be passed onProportion of UHNW individuals passing on their wealth20.8%UHNW entrepreneurs30.2%71.1%UHNW corporate executiv

101、es61.4%6.7%UHNW sole inheritors7.5%1.4%UHNW others0.8%3 For further informtion on these UHNW archetypes,please see Altratas World Ultra Wealth Report 2023.Altrata|Family Wealth Transfer 2024|16 Profiling the next decades ultra wealthy donorsBanking and finance most common among the wealthiest donors

102、.To which industry do ultra wealthy donors with a net worth of$100m+devote most of their time?At a global level,banking and finance is the primary focus for the largest share of individuals twice as common as the next-ranked sectors of real estate,business and consumer services,and the non-profit an

103、d social organizations industry.This broadly mirrors the distribution among North American donors,but there are other regional variations.Banking and finance leads the way in Asia but has a less prominent role,ranking only just ahead of industrial conglomerates a category that does not appear at all

104、 in the top 10 industries in the other two main wealth centers.North America has the highest share of UHNW donor involvement in the non-profit sector(three times greater than in Asia;partly explained by the highly developed sector in the region and also the cultural norm of taking on a philanthropic

105、 focus following the winding down of commercial responsibilities4),while the real estate sector is comparatively less of a focus in Europe.Primary industryPrimary industriesTop eight primary industries of those with$100m+passing on wealth to 2033Note:Primary industry refers to the industry to which

106、the wealthy devote most of their time,not necessarily the industry by which they created their wealth,although they are often one and the same.Source:Wealth-X,an Altrata company,2024Asia14.4%Banking and financeIndustrial conglomerates12.5%Real estate10.1%Manufacturing8.5%Business and consumer servic

107、es6.3%Food and beverages5.9%Healthcare5.5%Hospitality and entertainment4.8%Europe19.0%Banking and financeBusiness and consumer services9.8%Real estate7.0%Manufacturing6.8%Food and beverages6.6%Hospitality and entertainment5.8%Non-profit and social organizations5.6%Textiles,apparel and luxury goods5.

108、5%North America23.8%Banking and financeNon-profit and social organizations10.2%Real estate10.0%Business and consumer services9.9%Healthcare4.9%Hospitality and entertainment4.8%Manufacturing4.8%Food and beverages4.5%4 See Wealth-Xs Preservation and Succession:Family Wealth Transfer 2021.Altrata|Famil

109、y Wealth Transfer 2024|17 Profiling the next decades ultra wealthy donorsPhilanthropy and sports are the favorite interests of most wealthy donors.An understanding of the main passions and hobbies of wealthy donors,as well as their preferred philanthropic causes,can be a critical element of prospect

110、ing and engagement strategies.Drawing on an individuals interests will often spark or strengthen an emotional connection.This can be invaluable for the non-profit,charity and education sectors when seeking substantial donations from the ultra wealthy and prospective heirs,or for strengthening or for

111、ging new relationships on the part of wealth advisors and luxury brands.At a broad level,philanthropy and sports are the two most popular interests among the wealthy who will be passing on their fortunes over the next decade.The higher the wealth tier,the greater the interest and engagement in phila

112、nthropic activities,partly reflecting the fact that overall wealth holdings and an individuals spare time both tend to increase with age.Interest in aviation shows a similar trend and is the third-ranked passion among all donors with a net worth of$100m+.Education,the outdoors and public speaking ar

113、e other popular interests across most donor groups.Interests and philanthropic causesInterests Top eight interests,passions and hobbies of donors passing on wealth to 2033 by UHNW archetype Proportion of individuals(at a minimum)Note:More than one interest,passion or hobby is possible,so the numbers

114、 do not add up to 100%.Source:Wealth-X,an Altrata company,2024UHNW entrepreneurs54.2%PhilanthropySports 40.9%Aviation28.3%Education20.3%The outdoors20.3%Art20.3%Politics19.1%Public speaking15.6%UHNW sole inheritors63.2%PhilanthropySports 27.7%Art27.3%Education24.0%The outdoors21.7%Aviation19.2%Polit

115、ics19.0%Travel12.6%UHNW corporate executives47.1%PhilanthropySports 34.4%Aviation24.0%The outdoors20.5%Education19.6%Politics16.8%Public speaking15.1%Art14.7%Of note is the especially strong interest in philanthropy among those with predominantly inherited wealth,including at the VHNW level.Sole inh

116、eritors will tend to have fewer commercial commitments than many of their ultra wealthy peers,affording them the scope(and often fostering greater feelings of obligation)to engage in giving activity.A significantly higher female representation among this cohort is also a factor,with women generally

117、more likely to seek involvement in the non-profit segment and engage in societal issues than their male counterparts.Interest is art also tends to be greater among sole inheritors than the other archetypes,with the popularity of sports and public speaking somewhat lower.Altrata|Family Wealth Transfe

118、r 2024|18 Profiling the next decades ultra wealthy donorsThe next decades beneficiaries have a stronger interest in environmental and healthcare causes.When it comes to charitable causes,there are major differences in outlook between those who will be passing on their wealth and those who will be re

119、ceiving it.The relative order of popularity among causes is mostly similar(this refers to the frequency rather than total size of gifts),with education being the most popular field for philanthropic donations followed by the arts,social welfare(such as poverty reduction and crime prevention),and hea

120、lthcare and medical research5.However,what comes across starkly is the higher level of engagement overall in all of the most popular causes.In addition,there is a noticeable preference shift towards the environment and healthcare.The data illustrates the heightened focus among todays younger wealthy

121、(and soon-to-be wealthy)generations on issues of social justice and the environment,and on more sustainable impact investment.Such preferences will likely benefit the organizations operating in these spheres,while spurring organizations in other areas to engage more deeply with the next generation o

122、f donors.Philanthropic causesTop seven philanthropic causes among ultra wealthy donors and their beneficiariesNote:Giving to more than one cause is possible,so the numbers do not add up to 100%.Social services include crime prevention,reducing poverty and unemployment.Religious organizations do not

123、appear among the top seven philanthropic causes.However,this type of giving is often anonymous and disparate in nature,so we believe it is higher than our actual estimates.Source:Wealth-X,an Altrata company,202456.7%UHNW individuals passing on wealth in the next decadeDonorsIndividuals who will be r

124、eceiving wealth from UHNW donors in the next decadeBeneficiariesEducationArts and cultureSocial servicesHealthcare and medical researchEnvironment,conservation and animalsChildren and youth developmentPublic affairs39.8%31.5%29.8%15.0%9.2%5.4%61.4%44.7%35.9%36.9%21.6%13.8%8.7%It can often be a delic

125、ate dance to play in building relationships with different family members,but it is certainly becoming more common to engage with heirs at a younger age,identifying their interests and having a conversation on their plans for the next 10,20,30 years.“Eden Willis,Senior Director,Head of Financial Ser

126、vices,Altrata5 For more detail on the ultra wealthys philanthropic causes,see Altratas Ultra High Net Worth Philanthropy 2024 report.Altrata|Family Wealth Transfer 2024|19 Profiling the next decades ultra wealthy donorsAltrata|Family Wealth Transfer 2024|20 MethodologyMethodology07To size wealth tra

127、nsfer and to profile both those who will be passing on these fortunes and their beneficiaries,we use our Wealth Transfer Model and the Wealth-X Database.Our Wealth Transfer Model sizes the number of wealthy individuals that will be passing on wealth and the amount of this wealth in the period to 203

128、3 by wealth tier and by region.The model uses a three-step process.First,the model uses Wealth-Xs Wealth and Investable Assets Model to size the general wealthy population by country and to estimate the total wealth held by individuals in each wealth tier.Second,we use the Wealth-X Database to incor

129、porate age distribution by wealth.Third,we use secondary sources to integrate the life-expectancy distribution of wealthy individuals by country.We use life-expectancy data from 46 countries globally to estimate(with a 95%confidence level)the proportion of the population within each age bracket that

130、 will experience mortality within the next decade.To gain further insight into the individuals passing on this wealth and those who will be receiving it,we use the unique and proprietary Wealth-X Database,the worlds most extensive collection of curated research and intelligence on wealthy individual

131、s.Our database provides insights into their financial profile,career history,known associates,affiliations,family background,education,philanthropic endeavors,passions,hobbies,interests and much more.Our proprietary valuation model(as defined by net worth)assesses all asset holdings,including privat

132、ely and publicly held businesses and investable assets.The database uses the primary business address as the determinant of a wealthy individuals location.References to$or dollars refer to US dollars.Analysis of the data and additional insights were provided by the Wealth-X Analytics team.Leveraging

133、 the Wealth-X Database and its own data models,Wealth-X Analytics provides customizable data assets tailored to an organizations needs.08Altrata is a data powerhouse,built to deliver more value to our clients.We are the global leader in data-driven people intelligence on the wealthy and influential.

134、We work at scale with businesses and nonprofits across the world from a variety of industries.We help our clients connect with confidence to the people who have the greatest impact on their business.Our products give our clients all the information they need on everyone they need to know.Our data is

135、 actionable,accurate,and comprehensive.And our global team of more than 400 researchers is committed to maintaining millions of profiles and changing data points,so our clients can effectively engage their target audience and make meaningful,lasting connections.Altrata is a registered trademark of D

136、elinian Limited and its affiliated companies,which comprise five dynamic offerings:BoardEx,Boardroom Insiders,RelSci,WealthEngine and Wealth-X.About Wealth-XWealth-X is an Altrata company and the global leader in wealth information and insight.Wealth-X partners with prestige brands across the financ

137、ial services,luxury,nonprofit and higher-education industries to fuel strategic decision-making in sales,marketing and compliance.Wealth-X has developed the worlds largest collection of records on wealthy individuals and produces unparalleled data analysis to help organizations uncover,understand,an

138、d engage their target audience,as well as mitigate risk.Founded in 2010,with a team spanning North America,Europe and Asia,Wealth-X provides unique data,analysis,and counsel to a diverse roster of worldwide clients.About AltrataAltrata|Family Wealth Transfer 2024|21 To obtain further information or to request a demo,please contact us at: