16,700 millionaires to transfer Dh2.1t in Middle East.

• Position: Wealth-X Family Wealth Transfer Report 2019 estimated 1.2 trillion dirhams will be passed on to the next generation

Around 16,700 millionaires will pass on their wealth to the next generation in the Middle East, which is estimated to be $572 billion (Dh2.1 trillion) over the next 10 years.

According to the recent Wealth-X Family Wealth Transfer Report 2019, 14,390 millionaires with an asset range of $5 million to $30 million will transfer $152 billion to the next generation while 1,460 millionaires controlling $30 million to $100 million will transfer $77 billion. The highest wealth transfer will materialise from 850 ultra-high net worth individuals (UHNWIs) with over $100 million wealth in the Middle East, which is estimated to be $352 billion.

This amounts to a 26.6 per cent wealth transfer by millionaires controlling $5 million to $30 million of wealth, 13.6 per cent by UHNWIs with $30 million to $100 million and 59.8 per cent by those with over $100 million.

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