Gen Z’s job crisis has reached the ultrarich. Wealth advisors say billionaire parents are now planning for kids who may struggle to land and keep jobs

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It’s a “very real concern” for the ultrawealthy that their children aren’t prepared for the future, wealth advisor Tom Thiegs told Fortune.

Even the wealthiest parents in America are worried about their kids’ financial futures. The unemployment rate for recent college graduates has held at about 5.6%, and 42.5% of recent grads were underemployed at the end of 2025, the highest share since 2020. A college degree no longer guarantees a steady paycheck, and economists warn AI could upend the entry-level work that recent grads have historically done.

In a world where seemingly no one is immune to the impacts of AI on the workforce and an increasingly stiff job market, ultra-high net worth people are starting to have the same concerns as middle-class and low-income families: Will my kid be able to get a job and support themself?

“Billionaires have the financial resources to support their children, but they sometimes struggle to determine what else is needed for their children to succeed,” Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told Fortune earlier this year.

Millionaires and billionaires “are recognizing this is not the same game they had to play,” wealth manager Patrick Dwyer told CNBC earlier this year. “Families have to rethink … what it means to support their children. And we’re not talking about spoiling your kids. We’re talking about: What if your kid needs retraining at 33?” Dwyer is managing director at Aligned by NewEdge Wealth, a boutique wealth management firm based in Miami. He works with clients with net worths between roughly $100 million and more than $1 billion.

Dwyer said his clients are concerned their children, typically between age 22 and 35, are struggling to secure and hang on to jobs that are historically associated with security and status, including technology, law, and health care. That means the wealthy will have to plan for a future in which they’re passing on more of their fortune to their kids.

“[They’re] realizing that if they don’t pass on more meaningful wealth to their children, or their children are not able…

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