It marked the first time in the nine-year history of the report that newly minted billionaires accumulated more wealth from inheritance than starting a business. "The great wealth transfer, which we've all been talking about for the last 10 years, is underway," said John Mathews, head of UBS' Private Wealth Management division. Their total wealth great by 9% -- from $11 trillion to $12 trillion. The great wealth transfer from billionaires and multi-millionaires will likely change the landscape in investing and wealth management, as well as spending and philanthropy. "The wealth management industry needs to focus on those industries that can help accelerate the ability to invest in these areas," Mathews said.

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Persons: John Mathews, Jeff Bezos, Mathews Organizations: UBS Billionaire, UBS, Private Wealth Management, Amazon