How much money do you think you need to retire for good. Everyone has his own number, but we all can agree that a few billion dollars is enough for almost anyone to live the rest of his life as a king. Becoming a billionaire is not a joke. Only 2825 people could become one out of almost 8 billion that inhabit this planet. But I have some good news for you. We are in the middle of the greatest wealth transfer in history.
30 trillion dollars is about to change hands from baby boomers to the next generation. And guess what? You and I and everyone else who is watching this video has an opportunity to get a tiny slice of that 30 trillion dollars. Even 0.1% of that amount equals dozens of billions. Watch carefully, because You are about to learn how to benefit from the greatest wealth transfer in history? But before we get into that, we have to understand how baby boomers became so wealthy in the first place. Back in the 1930s, the United States was just another country.
Not even close to the superpower it is now. In fact, it was in such a big financial crises that it was named the great depression. It lasted 10 years and almost destroyed the entire economy. And the only way the United States got out of that crisis is through WW2. World war 2 was, of course, the most horrible thing ever happened in human history, but it also caused the greatest wealth transfer in history. When Europe and the rest of the world were trying to destroy each other . Supplies were limited, so the allies turned to the united states to fill that gap. Since it wasn't directly involved in the war and had the economic power to do that. US farmers and factories could produce as much wheat and equipment as they could and easily sell them to the allies for the highest possible price since troops at the battlefield were ready to take any measures to win the war. When the war ended in 1945, the entire world was destroyed, but the united states emerged as a superpower since for the last 5 years, it was literally supplying the entire world with everything.
In fact, 75 percent of the world's gold reserves ended up in the United States since, in times of war, paper currencies usually hold no value. But that was just the beginning. After the war, the demand for American goods, equipment, and services didn't fall since Europe had to build back its infrastructure and get their economies running again, and in return, US companies made fortunes.
That's how baby boomers, the generation of people born after ww2, became the richest generation in history, but they are getting old and dying. And are expected to transfer $30 trillion in wealth to younger generations over the next decade. Of course, most of this wealth is tied up in the hands of the top 1 percent, and it will be passed down to their kids, which is true, but studies show that 2/3 of businesses that are passed to their children fail, and only a small fraction makes to the third generation which means most of that 30 trillion dollars will be passed away to whoever can take it.
Take the richest man in American history, John Rockefeller, he had an estimated net worth of 400 billion dollars adjusted to inflation, but the Rockefeller family today has a net worth of around 11 billion dollars. Because With every new technology or change comes a new wave of innovation that transforms a certain industry or the entire world and transfers wealth from one group to another as it was with the internet for example, whoever rode that wave ended up making a fortune. Take YouTube, for example. For decades, cable news was the only choice to watch your favorite show or news. When YouTube emerged, not everyone jumped on board immediately. But this new technology transformed the industry and pushed most cable tv viewers to YouTube.
All that money that is supposed to be spent on tv ads is now spent on YouTube ads. Many cable tv channels went bankrupt as a result of that, but on the other side, people made fortunes riding this new wave of innovation like Philip de Franco, Pewdipie, or MKBHD. People even made fortunes by uploading fake pranks, fake pickups, reviewing toys, or even cat videos. Of course, it is still possible to make it on YouTube, but it's not easy as it was back then. In the 1990s, the dot com revolution happened where people made fortunes just by building a website even if that website was totally useless. The point is, wealth changes hands when a new wave of innovation changes a certain industry. So if we want to find out who will get the biggest portion out of that 30 trillion dollars, we have to find out what is the next big wave. There are certainly going to be many, but here are at least 2 of them.
Blockchain. Don't worry, I am not trying to sell you anything, and please ignore all the comments under this video that are trying to sell you anything related to crypto's because they are most likely trying to rip you off, so please don't tell me that I didn't warn you. Having said that, we can move on. Blockchain is now where the internet was in 2002 and 2003. It had its astronomical rise back in 2017 and crashed, but we will find out the true benefits of this technology in 10 or 20 years. But theoretically, it does not only has the potential to change the financial industry but pretty much every other industry. Back in the 2000s, most people couldn't have imagined what the internet would be in 20 years, and yet here we are, our lives depend on the internet. We can't go into the details of how blockchain works, but it's easy to imagine how the world of business will be running on smart contracts, for example.
If you could go back in time to the 2000s. What business would you start? Most certainly an internet company because the last 20 years were the golden era of the internet. And blockchain is about to have its own gold period. I am warning you again, there are too many scammers in this industry as it was with the internet back in the 2000s. Please do your research and understand the risks before you invest in this field, and most importantly, don't believe a single comment in the YouTube section that will tell you that they have made fortunes trading cryptos.
Back in the 1870s, when oil was just discovered, it wasn't as valuable as it is today since gasoline cars were not invented yet. But John Rockefeller decided to take advantage of this new wave of change. He started his oil refiner and slowly started buying his competitors. And as the demand for oil grew, especially with the invention of automobiles, his wealth grew accordingly to the point where he became the richest American to ever live.
But the world is moving again to a new source of energy not only because the world is running out of oil, but if we do not move to renewable energy, the world is going to face a climate disaster. Scientists have warned that the world is on the way to warm by 3 degrees, which would put many cities underwater. That's why China, for example, already banned gas and diesel in the new car market and has a plan to ban all gas and diesel cars by 2035. Many other countries have already taken similar steps. In the next 10 years, the world will rapidly transition to a new source of energy, and whoever will ride this new wave of change has the opportunity to make a fortune. Of course, Elon Musk is going to be the modern-day Rockefeller. In fact, for the first time in American history, there will be someone who is going to be wealthier than John Rockefeller. Nevertheless, he won't be able to own the entire market, which means others will have a chance to get a slice of that wave as well.
2020 hasn't been an easy year, not only because we went through a global pandemic, but the entire world faced a global recession. And when the economy hits its bottom line, it moves to the expansion period and starts growing again, and it seems like we are in the middle of that transition, which means in the next 3,5 even 10 years, the economy will most likely keep growing. The competition for this enormous transfer of wealth is going to be fierce. Even though this wealth is primarily located in the United States, the entire world will try to get it. Although The internet has turned the planet into a global village, most of the world still don't have access to the internet, but that is about to change when StarLink Will finally be ready.
Elon Musk wants to send 42K satellites to space to make high internet connection accessible to every corner of the world. And when that happens, another 4 billion people will have a chance to get a slice of that enormous wealth transfer. I hope you guys have enjoyed this video. Make sure to give it thumbs and if you are new around here, hit that subscribe button and the bell beside it Thanks for watching and until next time.