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Millennials Will Become the ‘Richest Generation in History,’ a New Report Says

Published

2 years ago

February 29, 2024

Millennials Will Become the ‘Richest Generation in History,’ a New Report Says

It looks like millennials will be able to buy houses after all.

Those born between 1980 and 1994 are set to become part of the richest generation in history, according to the latest Wealth Report by U.K. real estate agency Knight Frank. The group can expect a “seismic” windfall over the next two decades, as $90 trillion of assets move between generations in the U.S. alone.

“When the silent generation (born from 1925 to 1945), the baby boomers (1946 to 1964), and the oldest cohort of Generation X (1965 to 1979), die, £2.5 trillion (roughly $3.1 million) in wealth tied up in their homes will be freed up,” the report reads.

In addition to property, the shares, bonds, and assets previous generations have accumulated will go to millennials. This transfer of equity will make the generation wealthier than all their predecessors.

However, many millennials have been affected by the economic headwinds created by the 2007 financial crisis, the pandemic, Brexit, and the invasion of Ukraine. Some are riddled with economic anxiety and need to work multiple jobs to pay bills. As such, any influx of cash would likely be spent on buying homes, paying off student loans, creating a pension pot, and building credit. It is also worth pointing out that inheritance is largely determined by a family’s financial status, e.g. those with rich parents stand to gain the most.

The massive transfer of wealth could have an equally massive impact on society. Liam Bailey, global head of research at Knight Frank, believes younger generations will actively seek out greener homes, eco-friendly goods, and sustainable investments. Given their track record, he could be right. Millennials and Gen Z are leading the charge in climate change activism, the Pew Research Center reports. Both are talking more about environmental issues than older adults, taking to social media to mobilize and enact change.

It appears the financial shift is already underway, too. Knight Frank’s research found that 75 percent of millennials expect their wealth to increase in 2024, compared to 53 percent in the baby boomer generation, 56 percent in gen X, and 69 percent in the younger gen Z.

The future is looking slightly brighter—for millennials, at least.

Demetrius Simms

Demetrius Simms is a digital staff writer at Robb Report. After starting their career in PR, they transitioned to freelance writing in 2020. Their work has now appeared in lifestyle and culture…
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World

Two-train crash leaves at least 1 dead, 89 injured as emergency crews rush to chaotic scene

Published

7 minutes ago

June 20, 2026

Press Room

Two-train crash leaves at least 1 dead, 89 injured as emergency crews rush to chaotic scene

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Authorities are responding after two passenger trains crashed into each other Friday near Bedford, England, killing at least one person and injuring nearly 90 others.

The East of England Ambulance Service said it was called to a collision involving two trains at Elstow, near Bedford, at about 5:15 p.m. local time and quickly declared a “major incident.”

One person died at the scene, 11 people suffered very serious injuries, 22 were seriously injured and 56 people had minor injuries, officials said.

Bedford is roughly 60 miles north of London.

2 TRAINS COLLIDE IN DENMARK, LEAVING 5 PEOPLE CRITICALLY INJURED

Two passenger trains collided Friday in the United Kingdom. (Fox News)

All the patients with the most serious injuries have been taken from the scene to hospital.

The ambulance service said it sent numerous resources to the scene, including more than 20 ambulances, specialist hazardous area response teams and six air ambulances.

MULTIPLE STABBED IN UK TRAIN ATTACK NEAR CAMBRIDGE AS POLICE ARREST 2 SUSPECTS

Emergency crews were pictured working near the scene. (Fox News)

“Our thoughts are with everyone affected, and we thank all emergency service colleagues for their swift response,” the ambulance service wrote in a statement.

The Bedfordshire Fire and Rescue Service confirmed its crews were also responding.

“Please avoid the area,” fire officials wrote in a statement on X.

Sources told The Telegraph the train driver was on the phone with maintenance staff discussing a safety issue at the time of the crash.

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This is a developing story. Please check back for updates.

Alexandra Koch is a Fox News Digital journalist who covers breaking news, with a focus on high-impact events that shape national conversation.

She has covered major national crises, including the L.A. wildfires, Potomac and Hudson River aviation disasters, Boulder terror attack, and Texas Hill Country floods.

World

Lebanese influencer organises World Cup event amid Israel’s attack on Leban

Published

1 hour ago

June 19, 2026

Press Room

Lebanese influencer organises World Cup event amid Israel’s attack on Leban

NewsFeed

As Israel’s war on Lebanon rages, hundreds gather in Rmeileh by Sidon Gate to watch the 2026 World Cup. Organised by influencer Bilal Haddad, the fan zone offers food trucks, shisha and family activities, giving people a rare chance to relax. Al Jazeera’s Justin Salhani went to check it out.

Published On 20 Jun 2026

World

On the South Lawn, a UFC fighter’s victory frames an unusual White House scene

Published

9 hours ago

June 19, 2026

Press Room

On the South Lawn, a UFC fighter’s victory frames an unusual White House scene

WASHINGTON (AP) — Mark Schiefelbein has been based in Washington, D.C., with AP for about three years, and before that spent a decade in Beijing at AP’s China bureau.

Here’s what he had to say about this extraordinary photo.

Why this photo?

This was an event that had never happened before in the 250-year history of the United States and may never happen again: a night of mixed martial-arts cage match brawls on the South Lawn of the White House, with bloodied competitors battling it out in front of the president, vice president, and other leaders of the country. AP had other photographers ringside at the event focusing more on the fights themselves. So I felt my role was to capture the context of the evening — the location, the people in attendance, the environment.

How I made this photo

A small group of other photographers and I, the White House press pool, had been allowed to photograph part of the evening from a position in the stands directly opposite the White House. I was carrying four cameras with a variety of lenses from 12 mm to 300 mm. This let me capture everything from ultra-wide views of the “claw” structure built for the fights, to close-ups of leaders and celebrities in attendance. I had been following Diego Lopes with my longest lens as he moved around the ring celebrating his win over Steve Garcia. When I saw him start to climb onto the cage, I immediately realized there might be a possibility of a picture like this and zoomed out to capture more of the scene.

An octagon on the White House lawn for Trump’s 80th birthday and the nation’s 250th, in photos

1 of 30 |

President Donald Trump and Dana White, UFC president and CEO, arrive for UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Alex Brandon)

2 of 30 |

Diego Lopes fights Steve Garcia in a featherweight bout during UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington.(Evan Vucci/Pool Photo via AP)

3 of 30 |

President Donald Trump attends UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Alex Brandon)

4 of 30 |

Josh Hokit lands a punch as he fights Derrick Lewis during their heavyweight bout at UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Alex Brandon)

5 of 30 |

Diego Lopes, stands on the ring fence during the featherweight bout against Steve Garcia during UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Alex Brandon)

6 of 30 |

President Donald Trump, center, gestures as he attends UFC Freedom 250 alongside UFC President and CEO Dana White, left, and first lady Melania Trump on the South Lawn of the White House in Washington, Monday, June 15, 2026. (Evan Vucci/Pool Photo via AP)

7 of 30 |

Nic Becker, of Houston, shows off a Freedom 250 tattoo he got earlier in the day during UFC Fan Fest on the White House Ellipse ahead of the fights on the South Lawn, Sunday, June 14, 2026, in Washington. (AP Photo/Allison Robbert)

8 of 30 |

Lightweight Justin Gaethje is filmed by a crew on the White House Collannade, as he walks to UFC Freedom 250 on the South Lawn of the White House, Monday, June 15, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

9 of 30 |

First lady Melania Trump walks out to the UFC Freedom 250 on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Julia Demaree Nikhinson)

10 of 30 |

Fans wear America-themed clothing during the UFC Fan Fest on the White House Ellipse ahead of UFC Freedom 250 on the South Lawn, Sunday, June 14, 2026, in Washington. (AP Photo/Allison Robbert)

11 of 30 |

President Donald Trump and UFC President and CEO Dana White watch the U.S. Air Force Thunderbirds and U.S. Navy Blue Angels perform a fly over the White House during the UFC Freedom 250 fights on the South Lawn of the White House, Sunday, June 14, 2026, in Washington. (AP Photo/Jacquelyn Martin, Pool)

12 of 30 |

U.S. Air Force Thunderbirds and the U.S. Navy Blue Angels perform a flyover during the National Anthem at UFC Freedom 250 on the South Lawn of the White House on Sunday, June 14, 2026, in Washington. (Win McNamee/Pool Photo via AP)

13 of 30 |

MMA fighter Sean Strickland is escorted out of the UFC Freedom 250 Fan Fest on The Ellipse by U.S. Secret Service and other law enforcement ahead of UFC Freedom 250 on the South Lawn of the White House on Sunday, June 14, 2026, in Washington. (Kevin Dietsch/Pool Photo via AP)

14 of 30 |

UFC fans take video before the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

15 of 30 |

Eric Albarracin at the UFC Fan Fest on the White House Ellipse ahead of Sunday’s fight on the South Lawn, Saturday, June 13, 2026, in Washington. (AP Photo/Allison Robbert)

16 of 30 |

Kai Trump arrives before the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

17 of 30 |

Diego Lopes participates in the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

18 of 30 |

UFC commentator Joe Rogan during the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

19 of 30 |

Ilia Topuria, center, during the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

20 of 30 |

People arrive before the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

21 of 30 |

Motorsports athletes and stunt performers do a motorcycle jump ahead of the UFC Freedom 250 fights on the South Lawn of the White House, Saturday, June 13, 2026, in Washington. (AP Photo/Alex Brandon, Pool)

22 of 30 |

Isaiah Francisco and Eric Albarracin at the UFC Fan Fest on the White House Ellipse ahead of Sunday’s fight on the South Lawn, Saturday, June 13, 2026, in Washington. (AP Photo/Allison Robbert)

23 of 30 |

UFC bantamweight fighters Sean O’Malley and Aiemann Zahabi face off during a UFC news conference at the Lincoln Memorial, ahead of Sunday’s fight on the South Lawn of the White House, Friday, June 12, 2026, in Washington. (AP Photo/Allison Robbert)

24 of 30 |

A UFC fan participates in the UFC striking challenge before the ceremonial UFC Freedom 250 weigh-ins on the Ellipse, Saturday, June 13, 2026, in Washington, ahead of Sunday’s fight on the South Lawn of the White House. (AP Photo/Julia Demaree Nikhinson)

25 of 30 |

The UFC Fan Fest on the White House Ellipse ahead of Sunday’s fight on the South Lawn, Saturday, June 13, 2026, in Washington. (AP Photo/Allison Robbert)

26 of 30 |

The UFC holds a news conference at the Lincoln Memorial, ahead of Sunday’s fight on the South Lawn of the White House, Friday, June 12, 2026, in Washington. (AP Photo/Allison Robbert)

27 of 30 |

UFC fighter Alex Pereira holds his UFC belts at a UFC news conference at the Lincoln Memorial, ahead of Sunday’s fight on the South Lawn of the White House, Friday, June 12, 2026, in Washington. (AP Photo/Allison Robbert)

28 of 30 |

UFC bantamweight fighter Sean O’Malley enters a UFC news conference at the Lincoln Memorial, ahead of Sunday’s fight on the South Lawn of the White House, Friday, June 12, 2026, in Washington. (AP Photo/Allison Robbert)

29 of 30 |

The UFC Fan Fest on the White House Ellipse ahead of Sunday’s fight on the South Lawn, Saturday, June 13, 2026, in Washington. (AP Photo/Allison Robbert)

30 of 30 |

Audience members cheer and boo during a UFC news conference at the Lincoln Memorial, ahead of Sunday’s fight on the South Lawn of the White House, Friday, June 12, 2026, in Washington. (AP Photo/Allison Robbert)

Why this photo works

The White House is surely one of the most recognizable buildings in the world. The columns of the South Portico, the fighter standing with arms and legs spread wide in celebration, and the octagon padding of the UFC ring tell an entire story as your eyes move from top to bottom of the frame. With Lopes standing with his back to the camera, facing the White House, it becomes less a photo of him and more about the evening, the event, and the spectacle. It was fortunate that it was after nightfall, so things that might have been distracting, like the Marine Band and spectators seated behind the ring, are mostly in the dark. Only the key elements – the White House, Lopes, and the ring are lit up.

—

For more extraordinary AP photography, click here.