IN THE SPOTLIGHT
GEN X STANDS TO GAIN THE MOST FROM WEALTH TRANSFERS Generation X may be the biggest beneficiary from the $84 trillion Great Wealth Transfer in the next 10 years, according to a new study. While millennials and members of Generation Z are expecting the biggest inheritances in the coming years as baby boomers pass down their fortunes, Gen Xers will likely get the largest windfalls in the near term. According to Wealth-X, the average age of individuals in North America set to inherit fortunes from parents worth $5 million or more is 46.1 years old. The average age of children expected to receive the most substantial inheritances — from parents worth $30 million or more — is 47.6, according to the study. The findings cast a spotlight on the large wealth potential for Generation X, which has been largely overlooked in the discussion of young inheritors. Wealth management firms and private banks have largely been focused on potential clients in their 20s and 30s as they wait for trillions to be passed down by families. More than half of millennials are expecting an inheritance of at least $350,000, according to Alliant Credit Union.
NVIDIA BECOMES WORLD’S MOST VALUABLE COMPANY
Nvidia Corp.’s relentless rally has propelled the semiconductor giant’s market capitalization over its mega-cap tech peers, helping it clinch the title of the world’s most-valuable company as the artificial intelligence wave continues. All month Nvidia Corp, Microsoft Corp. and Apple Inc have battle for the pole position, with Nvidia finally edging past both of its big-tech peers. Earlier in the month, Nvidia capped Apple by market value for the first time since 2002, and the two went back and forth in with Apple also overtaking Microsoft to trade in the top spot briefly. The ranking is another reminder that AI is the top focus of many investors. Nvidia is seen as the big- gest and earliest beneficiary of the technology as it dominates the market with its highly sought-after chips that help power data centers run complex computing tasks required by AI applications. Microsoft, for its part, is also seen as an early AI winner given its investment and partnership with Ope- nAI, which created ChatGPT. And, this week, Apple shares rallied after the iPhone maker finally unveiled its plan for using the technology, appeasing investors at long last.
SPOTLIGHT MAGAZINE ON BUSINESS MAGAZINE • VOL 24 ISSUE 3 9
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