Scott Reyburn considers what will happen to art when wealth becomes concentrated in the hands of Generation X. Will they develop the same taste for collecting art that their parents did?
'The numbers vary wildly, but all are dizzying: $15 trillion. $30 trillion. $59 trillion. $68 trillion.
These are the figures being bandied about as economists and financial experts try to get their heads around a global phenomenon known as the “Great Wealth Transfer.” Between now and 2030, an estimated $15.4 trillion of assets will have been passed down the generations by the world’s richest people, according to a report published this year by the specialist analytics company Wealth-X.
“With the global wealthy population at an all-time high, the next 10 years will see the biggest-ever wealth transfer in modern history,” said Maeen Shaban, the director of research and data analytics at Wealth-X, whose report concentrates on people with net assets of $5 million or more — the richest 0.1 percent of global society.' ... Keep reading on The New York Times
'The numbers vary wildly, but all are dizzying: $15 trillion. $30 trillion. $59 trillion. $68 trillion.
These are the figures being bandied about as economists and financial experts try to get their heads around a global phenomenon known as the “Great Wealth Transfer.” Between now and 2030, an estimated $15.4 trillion of assets will have been passed down the generations by the world’s richest people, according to a report published this year by the specialist analytics company Wealth-X.
“With the global wealthy population at an all-time high, the next 10 years will see the biggest-ever wealth transfer in modern history,” said Maeen Shaban, the director of research and data analytics at Wealth-X, whose report concentrates on people with net assets of $5 million or more — the richest 0.1 percent of global society.' ... Keep reading on The New York Times