All that you need to know: "...their future financial firepower is likely to be a divisive lottery, predominantly determined by inheritance from previous generations...".
This article is hard to understand, and is all over the place - starts out talking about the inheritance that Millennials may someday get, and ends like this:
"Property, financial investments and cars were among the most significant sources of wealth, the Knight Frank study found.
Among smaller items, the report found that the market for secondhand bags had eased, while the fine wine market grew marginally and sales of watches at the three big auction houses totalled £488m in 2023, a slight increase on the year before.
At the high end, Canadian rapper Drake paid $1m for a ring formerly owned by the late Tupac Shakur at Sotheby’s hip-hop auction last July."
Cars, secondhand bags, fine wine and Tupac Shakur's former ring? What the actual h*ll? Did AI write this entire article and go completely off script?
millennials will be rich when... checks notes... boomers stop owning everything? so you're saying boomers are currently the richest generation in history and that won't change until they die?
Haven't you wondered why the hospitals, nursing homes and other elder care facilities are all PE owned? Keep the rich ones alive as long as possible, then pull the plug when they run out of money!
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[ 0.24 ms ] story [ 41.7 ms ] threadBut I'm not noticing much overlap here...
https://en.wikipedia.org/wiki/List_of_oldest_living_people
https://www.bloomberg.com/billionaires/
...so perhaps people are using assumed names, to hide the secret of their wealth?
It hurts man, it hurts
"Property, financial investments and cars were among the most significant sources of wealth, the Knight Frank study found.
Among smaller items, the report found that the market for secondhand bags had eased, while the fine wine market grew marginally and sales of watches at the three big auction houses totalled £488m in 2023, a slight increase on the year before.
At the high end, Canadian rapper Drake paid $1m for a ring formerly owned by the late Tupac Shakur at Sotheby’s hip-hop auction last July."
Cars, secondhand bags, fine wine and Tupac Shakur's former ring? What the actual h*ll? Did AI write this entire article and go completely off script?
Besides what is the use of inheriting at 60 or 70 ?
With such reporting and analysis, The Guardian is more likely to die before the Boomers.
Haven't you wondered why the hospitals, nursing homes and other elder care facilities are all PE owned? Keep the rich ones alive as long as possible, then pull the plug when they run out of money!