

The Biggest Wealth Transfer In History is Happening Right Now!
14 snips May 12, 2025
A monumental wealth transfer of $124 trillion from baby boomers to millennials is unfolding, poised to reshape financial landscapes. The discussion highlights generational disparities in attitudes towards money and the challenges in financial literacy. While millennials may inherit substantial wealth, rising housing prices and technological spending complicate their financial realities. The episode also reflects on historical examples and emphasizes the enduring importance of entrepreneurship in wealth creation.
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Vanderbilt Family Fortune Lost
- Cornelius Vanderbilt left the largest fortune in 1877, over $100 million.
- Within 70 years, the fortune was lost due to spending and bad investments by heirs.
Inheritance Trends Over Time
- Inheritance has doubled since the mid-20th century but remains half of 1900 levels relative to GDP.
- Two world wars and economic changes caused a collapse and later a rebound in inheritance values.
Inheritance in Slow Growth Economies
- Inheritance grows faster relative to income in slow-growth countries like Italy.
- When growth slows, inheritances become more significant compared to stagnant wages and profits.