The Fin You’re probably part of Australia’s new 'inheritocracy'
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Jul 2, 2025 Join James Thomson, a prominent columnist for The Australian Financial Review, and Lucy Dean, a wealth reporter, as they explore the emergence of 'inheritocracy' in Australia. They discuss how inherited wealth is reshaping social mobility and innovation, particularly for younger generations. The conversation delves into how financial status is influencing modern relationships, with more individuals scrutinizing their partner's wealth. They also tackle the growing wealth gap and the urgent need for discussions on tax reform to address housing and economic challenges.
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Inheritance Dominates Australian Wealth
- Australia's Rich List is increasingly dominated by billionaires who largely inherit their wealth.
- Many middle-class Australians are set to inherit substantial assets, impacting future wealth distribution and opportunities.
Wealth Transfer Fuels Inheritocracy
- The Rich List's older billionaires are likely to transfer $160 billion over the next decades.
- This massive intergenerational wealth transfer strengthens the growing inheritocracy in Australia.
Wealth Preservation Changes Economy
- Wealth accumulation increased due to longer lives and better wealth management.
- Rich families shift assets from risky businesses to stable property and investments, preserving wealth.
