The great generational wealth transfer

The great generational wealth transfer

Published: Mon 22 Apr 2024, 4:20 PM Last updated: Mon 22 Apr 2024, 4:21 PM

The sands of wealth are shifting in the Middle East. A staggering $84 trillion is expected to change hands globally over the next decade, with the UAE alone witnessing a monumental $1 trillion (Dh3.67 trillion) flowing from high-net-worth families (HNWIs) to the next generation. This phenomenon, dubbed the “Great Generational Wealth Transfer,” presents both immense opportunities and significant challenges.

The great wealth transfer signifies the passing of family wealth from one generation to the next. This monumental shift is currently unfolding, poised to reshape both our economic and social landscapes globally.

This ‘Great Generational Wealth Transfer’ is a reality, just like the visionary projects that have shaped this region. A large UAE family conglomerate in 2022, for example, successfully transitioned their business across generations, preserving their legacy while fuelling innovation. But navigating this wealth transfer can be complex.

Let us explore the opportunities and challenges specific to the UAE context and delve into the tools available to navigate this wealth transfer smoothly.

A trillion-dollar opportunity: Building a legacy for generations

This wealth transfer is a testament to the entrepreneurial spirit of the region. Imagine the impact it can have – funding