SINGAPORE—The global wealth landscape is undergoing transformative changes, with millennials poised to inherit an estimated US$84 trillion from Baby Boomers by 2045, according to the Navigating the Future of Wealth Report 2024 by Multipolitan, a global migration platform.
The report underscores the pivotal role of millennials and younger high-net-worth individuals (HNWIs) in reshaping wealth management through intergenerational transfers, borderless investments, and value-driven decision-making.
“The global wealth landscape is evolving rapidly due to technological advances, demographic shifts, and the largest intergenerational wealth transfer in history,” said Sandeep Jain, Senior Managing Partner at Multipolitan.
The report highlights the accelerating adoption of technology, such as artificial intelligence (AI), which is set to revolutionize wealth preservation strategies by analyzing unstructured data and personalizing investments.
Acquiring alternative residency or citizenship is emerging as a strategic tool for wealth preservation and mobility.
“The utility of an alternative residence will soon surpass the utility of owning a car,” said Multipolitan CEO Nirbhay Handa, emphasizing the rising demand for global diversification amid political and economic uncertainties.
The investment migration market, valued at US$21.4 billion annually in 2019, is projected to surpass US$100 billion by 2025, driven by affluent individuals from Europe, the U.S., and emerging markets seeking favorable jurisdictions.
Countries such as Malta and India’s GIFT City are rising as wealth hubs, challenging established centers like Singapore and Dubai with attractive fiscal policies and residency options.
The report also explores evolving definitions of wealth among younger HNWIs, who prioritize alternative investments like art, vintage cars, whisky casks, and digital assets, alongside personal health and longevity.
As global wealth dynamics shift, Multipolitan’s report positions the platform as a strategic partner for navigating complex wealth and mobility challenges in an interconnected world.
The complete Navigating the Future of Wealth Report 2024 can be downloaded here (https://www.multipolitan.com/resource/wealth-report-2024).
