How to invest your enormous inheritance

如何投资你巨额的遗产

Do not make the mistakes of the first Gilded Age

不要重蹈第一个镀金时代的覆辙

Jun 12th 2025

2025年6月12日

What do you stand to inherit? It still feels like a question from a different age, despite its growing importance today. In 2025 people across the rich world will inherit some $6trn, or around 10% of GDP—a figure that has climbed sharply in recent decades. French bequests have doubled as a share of national output since the 1960s; those in Germany have tripled since the 1970s; Italian inheritances are now worth around 20% of GDP.

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