Of the 137 people who became billionaires in the 12 months to April, 53 inherited a total of US$150.8 billion (S$201.7 billion).
This exceeded the US$140.7 billion generated by 84 new selfmade billionaires over the same period.
The bank said this was the first time new billionaires acquired greater wealth through inheritance than entrepreneurship in the history of its annual UBS Billionaire Ambitions Report, which is in its ninth edition in 2023.
It said subdued initial public offering markets in 2022 and early 2023 limited the opportunities for entrepreneurs to monetise the value of their businesses.
UBS said the transfer of wealth to the next generation was "just the tip of the iceberg" as increasing numbers of tycoons age and are starting to pass responsibility to their heirs.
"During the next 20 to 30 years, over 1,000 of today's billionaires are likely to transfer more than US$5.2 trillion to their heirs. How do we calculate this number? Simply by adding up the wealth of the 1,023 billionaires who are aged 70 or more today," the Swiss bank said.
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Denne historien er fra December 02, 2023-utgaven av The Straits Times.
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