The great wealth transfer is coming, with trillions of dollars of wealth set to change hands from one generation to the next.
I’ve got two very surprising facts about it for you.
Some of the wealth transfer will come from the very, very rich. People like Frank Lowy, a 93-year-old retail mogul with $9 billion in wealth, according to the 2023 AFR Rich List. He has three kids who stand to inherit that wealth.
According to the Australian Financial Review, there are 45 people on the rich list aged over 80 and they control over $136 billion in wealth.
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