In the last few years, investment advisors have begun to see a new trend among Gen X-ers and Millennials. Young people who may not have been able to afford the down payment on a house, or were not able to take a luxury vacation are suddenly taking on these projects in larger numbers than ever. Experts point to the fact that since their parents are aging, the younger generation is simply coming into their inheritance, and are using it for projects that they otherwise wouldn’t be able to afford.
Research now suggests that more than $16 trillion dollars in family wealth will be passed on to the younger generation in the next 30 years, as baby boomers begin to start handing over their affairs to their children. Hundreds of billions of that amount will pass from North American parents to their children. And, of course, there will be some families with more to pass on than others.
Here are a few stories about the largest inheritances ever, including some upcoming inheritances that haven’t actually happened yet.
Delphine Arnault is the daughter of Bernard Arnault, one of the richest men on the planet, who currently serves as the CEO for LVMH (Moët Hennessy Louis Vuitton), a luxury goods conglomerate. Delphine has served on the Management Board of LVMH since 2003, and although she has inherited about $4 billion from her father, sources say that she isn’t just content to enjoy her money at home.
She has been a vital and active part of the company since she joined in 2000. During her time at LVMH, she helped to found an award called the LVMH Prize, which is given every year to an up-and-coming young fashion designer to help jumpstart their career.