The world's aging billionaires are expected to pass $2.4 trillion to their kids and charity in the coming decades, according to a new report.
The world's 1,542 billionaires are now worth $6 trillion, according to a report from UBS and PwC. More than a third of those billionaires over age 70, setting up what many expect to be the largest wealth transfer of big fortunes in history.
The report said the world's billionaires will hand down $2.4 trillion over the next 20 years. UBS' Judy Spalthoff said it's unclear how much of the $2.4 trillion will go to wealthy kids and families, and how much will go to charity. But she said about a third or more could end up going to charitable causes.