(Bloomberg) — Billionaires are getting older, just like their fellow baby boomers.
A report from UBS Group AG and PwC released Tuesday found that the rapid rate of wealth creation by billionaire entrepreneurs will probably level off over the next two decades. It cited slower economic growth in emerging markets and the growing share of billionaires headed for retirement.
More than two-thirds of 1,300 billionaires surveyed are now over 60 years old and have more than one child, which may act as a brake on wealth creation, the study said. With their careers nearing an end, many billionaires are looking to preserve wealth and transfer fortunes to the next generation.
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