Gen Z is stepping into new wealth; the young generation amassed $9 trillion in income back in 2023, and by 2030, their earnings are expected to shoot up to $36 trillion. And in spending their riches, the 20-somethings are already snapping up fine art and luxe collectibles. Last year Gen Z spent twice as much on art compared to every other generation, according to recent data from Swiss bank UBS—and a fine arts expert says their buying habits are reshaping the market.
“There are a lot of people now that have a lot of money and they don’t know what to do with it,” Anita Heriot, president of The Fine Art Group Americas, told leadership editor Claire Zillman onstage at Fortune’s annual Most Powerful Women conference in Santa Barbara, California.
