It’s not just the Murdochs or the Arnaults. As family-owned companies change hands, new data shows more American businesses are now being inherited than purchased—part of the broader Great Wealth Transfer marking a shift in how the next generation could shape the economy.
Bank of America‘s recent Private Bank Study of Wealthy Americans found that in 2026, the share of businesses inherited among wealthy Americans is projected to reach 23% versus 11% that are purchased, a deviation from a previous pattern of more businesses being purchased than inherited. For example, in 2022, 28% of businesses were purchased compared to 5%, which were inherited, according to BofA data. Researchers surveyed 1,400 U.S. adults with at least $3 million in investable assets to look particularly at how high-net-worth individuals were saving and passing down their wealth.
