Three out of four millionaires in Spain are inherited.

BarcelonaBecoming a millionaire is no easy task. It requires dedication and effort, and sometimes even crossing the line. That's what some of the world's millionaires have done. But not all of them are self-made; that is, not all of them are what we call self-made men either self-made women, although there are differences between countries.

The situation is not the same everywhere. In Spain, around three out of four millionaires are inherited (74%). This is one of the highest percentages, surpassed only by Germany (75%). One of the most recent cases is that of the children of the late Mango founder, Isak Andic. Jonathan, Sarah, and Judith, who have inherited the family fortune in equal parts.

Another of the large Catalan companies, Puig, is in the hands of the third generation, headed by the president and CEO, Marc Puig, and his cousin, Manuel, as vice president; as is the case with the Coca-Cola European Partners bottling company, with Sol Daurella and family, or the Fluxàs, of Iberostar. Other cases include Rafael del Pino and brothers (Ferrovial); the Entrecanales family at Acciona; the sisters Alicia and Esther Koplowitz, who separated and the former is dedicated to investing while the latter controls FCC; Carlos and Juan March (Corporación Financiera Alba); the Rubiralta brothers (Werfen); or the Tous sisters, heirs to the brand of the same name.

This surname's weight means that there is less mobility at the top of the wealth ladder in Spain. According to an analysis conducted by Forbes magazine, only a quarter of millionaires in Spain are self-made. This proportion contrasts with that of China, where 97% are people who made their fortune from scratch. It's even ahead of the US, the country with the most millionaires in the world, where 73% are self-made, although representatives of second and subsequent generations of families are present in the top positions, such as Walton, owners of the Wal-Mart supermarket chain, and Mars, which owns the candy and sweets brand.

And it also happens in other countries, such as the case of the Ferreros in Italy, owners of Nutella among other brands; the Hermès family, dedicated to luxury; the heiress to the L'Oréal empire in France, Françoise Bettencourt Meyers, who is the richest in Europe; or Dieter Schwarz (Lidl), who is the richest in Germany. Gina Reinhart, one of the few women in these rankings and the richest person in Australia, also inherited a fortune, now dedicated to the mining and exploitation of rare earths.

The more heavily inherited fortunes are, the harder it is for the social ladder to work. A recent study by the Swiss bank UBS reveals that for the first time, new large fortunes from inheritance exceed those that originate from the entrepreneurship of one or more people. And this trend is set to grow, as more than 1,000 elderly billionaires are expected to pass on $5.2 trillion to their heirs over the next 20 to 30 years. More than 40% of the heirs interviewed by the bank said they would continue in the family business, but more than half said they would embark on new business ventures. However, the fact is that their starting point makes it easier for them to count on the resources and connections to make their initiatives prosper than for people from more humble families.

A recent report by Bank of America states that the majority of cash wealth remains in the hands of the 20th generation. baby boomers (their average net worth ranges from $970,000 to $1.2 million, according to Fortune), but "the wealth transfer to millennials has begun." The boomers deliver $72.6 trillion in assets directly to their heirs by 2045, according to financial markets firm Cerulli and Associates. Capgemini estimates that by 2048, members of Generation X (currently ages 44 to 59; millennials (ages 28 to 43) and Generation Z (ages 12 to 27) will inherit assets worth $83.5 trillion.