A summary is given of the present state of our knowledge of High-Mass X-ray Binaries (HMXBs), their formation and expected future evolution. Among the HMXB-systems that contain neutron stars, only those that have orbital periods upwards of one year will survive the Common-Envelope (CE) evolution that follows the HMXB phase. These systems may produce close double neutron stars with eccentric orbits. The HMXBs that contain black holes do not necessarily evolve into a CE phase. Systems with relatively short orbital periods will evolve by stable Roche-lobe overflow to short-period Wolf-Rayet (WR) X-ray binaries containing a black hole. Two other ways for the formation of WR X-ray binaries with black holes are identified: CE-evolution of wide HMXBs and homogeneous evolution of very close systems. In all three cases, the final product of the WR X-ray binary will be a double black hole or a black hole neutron star binary.
