Heirs beat self-made billionaires for first time: UBS

UBS Group AG said heirs joining the ranks of the world's richest over the past year had racked up more wealth than newly-minted self-made billionaires, in a sign that the transfer of family fortunes is becoming an ever-larger factor in the distribution wealth.

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Of the 137 people who became billionaires last year, 53 inherited fortunes amounting to a combined $150.8 billion, according to a study published on Thursday. While self made billionaires outnumbered them, the 84 individuals who joined the list had accumulated just $140.7 billion. That was the first time since UBS started compiling the report nine years ago that new billionaires inherited more wealth than they cr