Over $1 Trillion in Middle East Wealth Will Change Hands by 2030—Can Technology Help?
The 500 largest family-owned businesses in the world made $8.8 trillion in revenue—10% more than in 2023—and they employ over 25 million people in 44 countries, according to EY. If these companies were a country, they would be the third-largest economy in the world, after the US and China.
In the GCC region, family businesses are even more important
They make up about 90% of all private companies, contribute 60% of the region’s GDP, and provide 80% of the jobs, says the Family Business Council Gulf. But many of these businesses are not ready to hand over leadership or wealth to the next generation, according to a report by DIFC Innovation Hub, Julius Baer, and Euroclear.
Many wealthy individuals think they’re prepared—but they may not be
While 84% of wealthy people in the Middle East think their businesses are ready for succession, their personal and investment assets often aren’t. About 1 in 4 don’t have a proper inheritance plan. That means 24% of wealth could be passed on without clear instructions, causing delays, family issues, and loss of value.
This is a big deal because a huge wealth transfer is coming
Around the world, about $84 trillion will be passed down by 2045, according to Cerulli. In the UAE, wealthy individuals’ assets have grown 20% since 2022 to $700 billion and are expected to pass $1 trillion by 2026. In the broader Middle East, over $1 trillion in assets is expected to be transferred by 2030.
Family offices are facing risks and adapting their investments
According to UBS’s 2025 report, family offices—wealth management firms for rich families—are dealing with risks like trade wars, political tensions, and inflation. Still, 59% plan to stick with their current level of investment risk, using tools like active management, hedge funds, and gold. Family offices in the Middle East invest less in stocks and more in areas like digital tech, energy, healthcare, and AI.
Why planning for the future matters
Many families avoid talking about inheritance due to cultural taboos and complex legal processes. Nearly 75% of wealthy individuals are still hesitant to discuss legacy planning. UBS found that while 53% of family offices have formal plans, many delay putting them into action because they’re unsure when to start. This is a common issue around the world and in the Middle East.
Dr. Fatima Al Arabi, CEO of ALAF Capital SA, told Forbes Middle East that it’s important for wealthy families and businesses to create clear strategies for passing on wealth. This helps keep the business stable, protects family values, and avoids legal and tax problems or conflicts among family members.
She added that long-term planning helps avoid family fights, court cases, and splitting up assets that can reduce the family’s wealth. It also ensures smooth leadership transitions and protects the business’s reputation.
Technology is changing the game
Passing on wealth isn’t just about land and gold anymore. It now includes things like real estate, private investments, art, and even cryptocurrency. As wealth becomes more complex, families need secure, transparent, and data-driven tools to manage it better.
Al Arabi believes that new technologies like AI and blockchain will play a bigger role in managing wealth. These tools can make the process more open and efficient. For example, blockchain can safely handle inheritance using smart contracts, and AI can help create custom investment plans and manage risks in real time.
However, she stressed that these tools should support human advisors, not replace them. Technology helps advisors give clients better protection, control, and planning for the future.
“People come first, technology comes second.”
Many families are still focused on growing their wealth and are not ready—mentally or in practice—to start planning how to pass it on. Around 46% of wealthy people don’t fully share details about their assets, even with family or advisors.
Sebastian Goeres, CEO of LGT Middle East, also told Forbes Middle East that people matter most, and technology should just be a helpful tool.
“Planning for the future starts with people,” he said. “Technology can make things easier, but it needs to be customized. There’s no single solution that works for everyone. Expert human advice is still the most important part, because succession is really about conversations, shared values, and guidance—things that technology alone can’t provide.”
He also pointed out that passing down a family business is complex. It needs well-prepared heirs, trusted advisors, and good rules and systems. Legal documents are important, and technology can help by keeping track of ownership, handling cross-border issues, and making assets and taxes more visible.
A new generation, new values
Younger people who inherit wealth are thinking differently. They want more than just efficiency—they want meaning, openness, and involvement.
“The younger generation wants to take part in shaping their financial future,” Goeres said. They want to understand how their money is managed and make sure it matches their values and long-term goals.
For them, it’s not just about using technology. They care about honest conversations, being included in decisions, and making sure everyone in the family works together to protect their legacy.
“In the Middle East, many families are still careful about using technology to manage their wealth,” said Goeres. That’s why it’s very important to create smart plans, teach the next generation, and have strong rules—with help from experienced advisors. Technology can help, but real trust comes from having clear goals and good leadership.
The global WealthTech market is expected to grow from $5.4 billion in 2024 to $10.8 billion by 2029. As more wealth is created in the region, there is a growing need for digital tools that make inheritance planning easier and respect local traditions and laws.
Standing the test of time
One example of a lasting legacy is Japan’s Takenaka Corporation. This construction company was started over 400 years ago and is still running today. It is now the oldest family-owned business in the world, according to the 2025 EY and University of St. Gallen Global 500 Family Business Index.
Many family businesses in the Middle East also have long histories. Some started in the 1800s or before 1950, showing their strength and ability to change with the times.
Published: 3rd June 2025
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