The rich are getting richer, and younger.
A survey of U.S. investors with $25 million or more finds their average age dropped by 11 years since 2014, to 47. These fabulously rich Americans, whose ranks have more than doubled since the depths of the Great Recession, are younger than less wealthy millionaires. The average age of those with at least a mere $1 million is 62, a number that hasn’t budged in years.
The finding suggests a “vast generational transfer of wealth” is “just beginning,” said George Walper Jr., president of the Spectrem Group, which conducted the study. The sample size was small—185 Americans with more than $25 million in net worth—but the findings are consistent with other economic research on the top 0.1 percent.
Read more starting at ‘Those over 65 hold more than a third of U.S. wealth, a ‘ at………Super Rich Americans Are Getting Younger and Multiplying