France faces €9 trillion wealth transfer by 2040

France is approaching a historic transfer of wealth, with an estimated €9 trillion in assets expected to be passed down between 2025 and 2040. According to a report by the Fondation Jean-Jaurès, this massive movement of capital is driven by the aging baby boom generation and includes both real estate and financial assets.

However, this wealth transfer is expected to be highly unequal. Data from the Conseil d’analyse économique suggests that while the top 1% of heirs may receive an average of more than €4.2 million in net rights, half of a generation may receive less than €70,000 in total lifetime inheritances, with many receiving nothing at all. This disparity has sparked debates regarding social justice and whether the country is becoming a “society of heirs” where inherited wealth plays a larger role in economic standing than labor.