The great wealth transfer has officially begun, according to the latest edition of the UBS Billionaire Ambitions Report.
Last year, the ultra-rich amassed more assets through inheritance than entrepreneurship for the first time since Swiss bank UBS started tracking their respective net worths almost a decade ago. And over the next 20 years, more than 1,000 billionaires are expected to pass a staggering $5.2 trillion (£4tn) on to lucky family members and beneficiaries.
Outrageously wealthy heirs and heiresses are nothing new, of course. As the number of mega-moneyed beneficiaries soars, read on to discover the stories behind 30 of the world's all-time biggest inheritances and find out how the inheritors fared with their fortunes.
All dollar amounts in US dollars with figures adjusted for inflation.
William Henry Vanderbilt inherited one of the great fortunes of the Gilded Age in 1877 after the death of his father, the railroad and shipping magnate Cornelius Vanderbilt. The Vanderbilt patriarch's estate was valued at over $100 million and William bagged $95 million. That's $2.8 billion (£2.2bn) today and the fortune was worth more than the entire US Treasury at the time.
On his deathbed, Cornelius implored his son to "keep the money together" – and William certainly didn't let him down.
In fact, the Vanderbilt scion more than doubled his inheritance. He died just eight years after his father, leaving behind a legacy of $200 million, which translates to $6.4 billion (£5.1bn) in 2024. The fortune was subsequently divvied up, with much of it frittered away.
According to reports, nobody in the family was worth more than a million dollars by the 1950s.
The namesake son of Italian sunglasses entrepreneur Leonardo del Vecchio inherited 12.5% of eyewear giant EssilorLuxottica following his father's death in 2022.
Forbes pegged the stake's value at $3.9 billion, which is $4.2 billion (£3.4bn) in today's money, though it's now worth $4.6 billion (£3.7bn).
The 29-year-old's siblings and mother each received their own 12.5% stake, which made the baby of the family, 18-year-old Clemente, the world's youngest billionaire.
His crown has since been stolen by Brazilian heiress Livia Voigt, who is just two months younger. She recently inherited shares worth a cool $1.1 billion (£876m) in electrical engineering giant WEG from her grandfather.
Together with his brother Donald, Si Newhouse inherited a vast publishing empire in 1979 after the death of their media mogul father, Samuel Newhouse.
At the time of his passing, Samuel's company, Advance Publications, owned America's third largest newspaper chain, Vogue and House & Garden publisher Condé Nast, and a wide range of other media interests, including six TV stations and 15 cable TV systems. Back then, Si's stake was valued at a billion dollars, which is $4.3 billion (£3.4bn) today.
The long-time Condé Nast chairman made a number of smart moves during his tenure, including hiring Anna Wintour to revamp the American edition of Vogue and snapping up prestige publications such as The New Yorker.
Under his watch, the family business boomed. When he died in 2017, Si's fortune had mushroomed to $12.1 billion (£9.6bn).
While Si looked after the magazine side of the business, his younger brother Donald Newhouse opted to oversee its newspapers.
In 1979, Advance Publications owned 31 titles, with a total circulation of more than three million. Donald also chose to manage its cable TV operations.
Donald's fortune peaked at $17.6 billion (£14bn) in 2021, according to Forbes. His net worth has since fallen back to $10.8 billion (£8.6bn) but this is still a fabulous return on his inheritance, which was worth the equivalent of $4.3 billion (£3.4bn) in today's money.
Andrew Mellon was one of America's richest people at the time of his death in 1937. The banking tycoon, former US Treasury Secretary, and philanthropist had built up an enormous fortune and left his two children, Ailsa and Paul, $250 million each, mostly in the form of stock. Adjusted for inflation, the siblings each received the equivalent of $5.4 billion (£4.3bn) in 2024 money.
Ailsa Mellon Bruce followed in the footsteps of her father by donating vast sums of money to good causes. A noted art collector, she was considered America's wealthiest woman when she died in 1969 at the age of 68.
Worth $571 million, or around $4.9 billion (£3.9bn) in 2024 money, her estate was mostly bequeathed to untaxable charities and foundations, as reported by The New York Times in 1971.
Ailsa's younger brother, Paul, was also a major philanthropist and art collector. The Mellon heir, who became an accomplished breeder of thoroughbred horses, donated about a billion dollars to fund the arts, support education, and conserve the environment.
When he died in 1999, Paul's fortune stood at $1.4 billion. In 2024, this is the equivalent of $2.7 billion (£.22bn), which is considerably less than what he inherited in real terms.
That said, this was down to the Mellon scion's generosity rather than mismanagement. Unlike the spendthrift Vanderbilts, the wider Mellon family has been adept at holding on to its money over the years, with the clan's members currently worth a collective $14.1 billion (£11.2bn).
BMW heiress Susanne Klatten inherited 12.5% of the German carmaker in 1982 after the death of her father, Herbert Quandt.
Back then, the company was valued at 2 billion deutsche marks, meaning Susanne's stake was worth 250 million deutsche marks; that's $325 million (£259m) when adjusted for inflation. The then-20-year-old also inherited 50.1% of chemicals company Altana.
Fast-forward to 2018 and the BMW scion received half the 16.7% stake owned by her mother Johanna Quandt, who died in 2015. The stake, valued at $5.4 billion, or around $6.7 billion (£5.4bn) today, increased her holding to 20.85%. She's now worth $25.7 billion (£20.4bn), according to the latest Forbes estimate.
Stefan Quandt was just 16 when his father passed away, leaving him a 17.4% share in BMW. In 1982, the holding was worth 348 million deutsche marks, which is the equivalent of $452 million (£361m) in 2024.
After receiving an additional 8.35% share in the company from his mother's estate in 2018 (worth $5.4 billion, or around $6.7 billion (£5.4bn) today), the BMW heir's ownership swelled to 25.75%. This resulted in him having a so-called "blocking stake", effectively giving him the power to prevent any hostile or not-so-hostile takeover of the carmaker.
Today, the firm's leading individual shareholder has a net worth of $26.4 billion (£21bn).
Charlene de Carvalho-Heineken landed a $4.8 billion inheritance in 2002 when she was bequeathed a 24% stake in beer behemoth Heineken by her father, Freddy Heineken. This translates to $8.3 billion (£6.6bn) in today's money.
The lager heiress also secured a controlling stake in the company founded in 1864 by her great-grandfather Gerard Adriaan Heineken, and surpassed the then-Queen Beatrix as the richest woman in the Netherlands.
Still the wealthiest woman in the country today, her current net worth comes in at $14.2 billion (£11.3bn).
Lukas Walton is a scion of America's richest family, the Waltons, who own 45% of Walmart and are worth a collective $267 billion (£213bn). The retail juggernaut was established in 1962 by the dynasty's patriarch Sam Walton.
The grandson of the company founder, Lukas received a third of his father John's estate, including a 4% Walmart stake, following his death in a plane crash in 2005. The inheritance was worth $5.7 billion back then, which is $9.1 billion (£7.3bn) in 2024.
The 38-year-old, who also has stakes in First Solar and Arvest Bank, is considerably richer today in a relative sense because of Walmart's stellar long-term stock market performance. Forbes pegs his current net worth at $28 billion (£22.3bn).
Brazilian socialite Lily Safra saw her net worth skyrocket by over $4 billion in 1999 after her husband, the banker and philanthropist Edmond Safra, died in a fire started by a nurse at his Monaco penthouse.
No stranger to plum inheritances, Mrs Safra had already received $230 million in 1969 following the death of a previous husband (she married four times in total). With that factored in, the two-time widow was left more than $9.5 billion (£7.6bn) when the figures are adjusted for inflation.
A big-time philanthropist, Lily donated to a long list of charities during her lifetime. By the time of her death in 2022, her net worth had slipped to $1.3 billion (£1bn).
Walmart patriarch Sam Walton passed on 90% of his stake in the company to his four children and wife before he died in 1992, avoiding estate taxes in the process. In 1992, the family's holding was worth $23 billion, so each of the kids had a fortune of $4.6 billion, which is $10.2 billion (£8.2bn) in 2024 money.
As we've mentioned, John, the second of Sam's three sons, died in a plane crash in 2005 and his son Lukas received the lion's share of his father's $17 billion estate, which would be worth $27.2 billion (£21.7bn) today.
John's wife, Christy, is estimated to have received around a sixth of the fortune. The rest was donated to charitable foundations.
The Walmart patriarch's only daughter, Alice Walton inherited 20% of her father's stake in the retailer, which is worth the equivalent of $10.2 billion (£8.2bn) in today's money.
Alice is currently Walmart's second-biggest individual shareholder, with an enviable 1.253 billion shares. The heiress, who is currently worth an incredible $72 billion (£57.4bn), has ploughed a considerable chunk of her fortune into the Crystal Bridges Museum of American Art in Bentonville, Arkansas. It boasts works by the likes of Andy Warhol, Georgia O'Keefe, and John Singer Sargent.
Rob Walton is the first-born son of Walmart's late founder. Like his siblings, he received 20% of his dad's stake in the retail chain.
Now retired from his role as the company's long-serving chairman, the scion owns 1.249 billion Walmart shares, which makes him its third-biggest individual shareholder after Alice, although Rob is richer than his little sister. Forbes estimates his current net worth at $77.1 billion (£61.5bn).
Outside of Walmart, the multibillionaire has a substantial stake in Arkansas's Arvest Bank and part-owns the Denver Broncos NFL team.
The youngest of the Walmart founder's four children, Jim Walton is currently the richest in the family. He has a net worth of $78.1 billion (£62.3bn), despite inheriting the same number of shares as his siblings.
This all boils down to the fact that Jim retained more of his Walmart stock. His holding currently totals 1.257 billion shares, making him the company's number-one individual shareholder.
In addition to that, Jim's stake in Arvest Bank is larger than his brother's, with his holding equating to 44% against Rob's 25.5%.
America's second-richest family, the Mars clan is worth $117 billion (£93.3bn), according to Forbes.
There are currently six Mars billionaires who have all derived their wealth from Forrest Mars Sr., who created M&Ms, Milky Way, and Mars bars. The once modest candy firm, which was founded by Forrest Sr.'s father, Franklin, in 1911, has rocketed in popularity and Mars Inc. is now a global confectionery and pet food colossus.
Forrest Sr. passed away in 1999, leaving the business to his three children: Forrest Jr., John, and Jacqueline. Their wealth at the time was estimated at $5.5 billion each, or $10.3 billion (£8.2bn) in today's money.
Following Forrest Jr.'s death in 2016, his stake in the company went to his four daughters: Valerie, Victoria, Marijke, and Pamela. They're now worth $9.8 billion (£8bn) each.
John Mars also inherited a third of Mars Inc. in 1999. He joined the family business in 1953 and now serves as its chairman.
The Mars heir is renowned for his philanthropic endeavours and was awarded an honorary knighthood by Queen Elizabeth II in 2015.
Extremely private and camera-shy, he's rarely photographed by the press and had the honour of being the richest individual without a photo in Forbes' rankings from 2010 to 2014. The joint-wealthiest Mars family member, John is currently worth $39 billion (£31.1bn).
Jacqueline Mars also opted to take an active role in the family business. The heiress worked for Mars for almost 20 years and served on the firm's board until 2016.
The input of Forrest Sr.'s three children has clearly paid off over the years as the company's value and share price have shot up, with Jacqueline's fortune also currently standing at $39 billion (£31.1bn).
When you consider her stake in Mars Inc. was worth $5.5 billion (£4.4bn) in 1999, which is $10.3 billion (£8.2bn) when adjusted for inflation, that return is very impressive indeed.
Brothers Karl and Theo Albrecht (pictured) founded Aldi in 1946 out of their mother's grocery store in Essen, Germany.
In the early 1960s, the siblings split the firm following a disagreement over whether they should sell cigarettes. Theo became the owner of Aldi Nord, operating in northern Germany and later overseas, and added US supermarket chain Trader Joe's to his empire in 1979.
Following Theo's death in 2010, his sons Berthold and Theo Jr. inherited his fortune. Berthold received $8.35 billion, which translates to $12 billion (£9.6bn) in 2024 money. Sadly, the Aldi Nord and Trader Joe's heir had little time to enjoy his enormous wealth as he died just two years later, sparking a years-long feud among his heirs that has only recently been resolved.
Berthold Albrecht's brother, Theo Jr., is richer now in relative terms compared to 2010 when he inherited the Aldi Nord and Trader Joe's fortune from his father. That $8.35 billion, which is $12 billion (£9.6 billion) when inflation is factored in, has swelled to $13.5 billion (£10.8bn) in 2024.
If you're wondering why no photos of the Aldi heirs appear here, it's because they're extremely difficult to source. Theo Sr. was the victim of a shocking kidnapping in 1971 and the family's core members have largely steered clear of the limelight ever since.
Aldi co-founder Karl Albrecht (pictured) walked away with Aldi Süd, Aldi's stores in southern Germany and Europe, following the split with his brother in the early 1960s.
Reflecting the success of Aldi Nord, the firm went on to expand in Germany and abroad, making Karl incredibly rich in the process.
When he died in 2014, his fortune passed to his two children, Karl Jr. and Beate Heister. They each received $10.65 billion, based on Forbes' estimate of their combined wealth in 2015. In today's money, that's $14.1 billion (£11.2bn), which compares favourably with Karl Jr.'s current net worth of $15.3 billion (£12.2bn).
As we've just revealed, Karl Albrecht Jr.'s sister, Beate Heister, was also left a colossal $10.65 billion (£14.1 billion/£11.2 billion in 2024 money) stake in Aldi Süd when her father passed away in 2014. Her current net worth is identical to her brother's at $15.3 billion (£12.2bn).
Beate has never worked directly for the family firm. Her husband, Peter Heister, previously headed up Aldi Süd, and they both sit on its advisory board.
Not much else is known about the enigmatic heiress: undoubtedly a consequence of her uncle's kidnapping. Beate is "notoriously reclusive" and shuns the glare of the media.
Hugh Grosvenor is the UK's richest aristocrat, surpassing even King Charles and other members of the British Royal Family in terms of wealth. The privileged peer inherited a dukedom and estate worth £9 billion in 2016 following the death of his father Gerald, 6th Duke of Westminster. The 7th Duke was 25 at the time.
The Grosvenor Estate, which can trace its history back to 1677, encompasses swathes of prime real estate holdings in the UK and overseas, with additional interests in food and agtech.
The 7th Duke's £9 billion inheritance works out at $14.9 billion (£11.9bn) in today's money, although his current net worth is actually $12.6 billion (£10bn), according to Bloomberg.
Laurene Powell Jobs inherited a fortune worth $10 billion, or $15.3 billion (£12bn) in today's money, when her husband, Steve Jobs, passed away in 2011. The bulk of the Apple co-founder's estate was made up of almost 40 million Apple shares and a 7.3% stake in the Walt Disney Company.
Since then, the tech heiress has downsized her Disney holding to 4%, started up a philanthropy and investment firm, and purchased The Atlantic and other media outlets. In 2021, she pledged several billion dollars to fight climate change.
As per Forbes, her net worth is currently $13.3 billion (£10.6bn).
Giovanni Ferrero was catapulted into the billionaire club when his father, Michele, passed away in 2015. He inherited 75% of the eponymous family confectionery business, which is behind brands such as Nutella, Kinder, and Tic Tac.
Giovanni's older brother, Pietro, died in 2011, so he was the sole heir to Michele's billions.
According to Forbes, Giovanni's inheritance amounted to $13 billion in 2015, which is $17.1 billion (£13.6bn) when tweaked for inflation. Italy's richest person, he stepped down as Ferrero Group CEO in 2017 and is now executive chairman. He's currently estimated to be worth $43.1 billion (£34.4bn) thanks to the firm's outstanding performance.
The widow of casino mogul Sheldon Adelson, Miriam Adelson inherited a majority stake in Las Vegas Sands, the gaming and resort company he founded and ran, after he died in 2021. That same year, her fortune was pegged at $24 billion, which is $27.8 billion (£22.2bn) in 2024 terms.
Mrs Adelson is a physician specialising in addiction, and as well as funding research into substance abuse, she's founded and bankrolled two rehab facilities in Las Vegas and Tel Aviv.
The casino heiress is also notable for being one of the Republican Party's biggest donors. She's currently estimated to be worth $30.4 billion (£24.2bn).
Canada's richest person, David Thomson, 3rd Baron Thomson of Fleet, was passed the family media empire in 2006 along with a hereditary title following the death of his father Kenneth, 2nd Baron Thomson.
The namesake business originated in the 1930s with Fleet Street newspaper magnate Roy Thomson, who was awarded the title by Queen Elizabeth II.
David's inheritance was worth $19.6 billion (£16bn) in 2006, which is $30.4 billion (£24.2bn) in today's money. Since his father's death, the Thomson Corporation has gone from strength to strength, including its acquisition of Reuters in 2008. The titled billionaire's fortune is now estimated at $70.9 billion (£56.5bn).
Red Bull heir Mark Mateschitz is Austria's richest person and the wealthiest millennial in the world. He was 30 years old when he inherited 49% of Red Bull from his father Dietrich, who died in 2022.
The holding, which includes almost 50% of the massively successful energy drinks firm and Formula One racing team, gave him a net worth of $34.7 billion in 2022. Adjusted for inflation, the figure is $37 billion (£29.5bn). It's now worth two billion dollars more than that, courtesy of Red Bull's surging revenues and profits.
Officially the richest woman in the world, Françoise Bettencourt Meyers is the granddaughter of L'Oréal founder Eugène Schueller.
The unfathomably wealthy French heiress, who helms her family's charitable foundation, received a third of the cosmetics company in 2017 following the death of her mother Liliane Bettencourt, despite their reportedly fractious relationship.
At the time, the holding was worth $40 billion (£32bn), which is $51 billion (£40.7bn) in 2024 money. It's now valued at $97.7 billion (£77.9bn), though the stake's value surpassed $100 billion (£80bn) for a time last year, making the L'Oréal scion the first female centibillionaire in history.
Along with her three children, socialite and philanthropist Julia Koch bagged a 42% stake in Koch Industries upon the death in 2019 of her husband David, who was instrumental in turning the privately held conglomerate into the enormous success it is today.
At the time of David's death, the holding had a value of $50.5 billion, which is $61.7 billion (£49.2bn) when adjusted for inflation. It's now worth $65.9 billion (£52.5bn).
The fortune derives from the share in the company David inherited in 1967 from his own father, Fred. Back then, the stake was worth just $7 million – around $65 million (£51.8m) today – which goes to show just how successful Koch Industries has been over the years.