Business Irish

Tuesday 23 January 2018

Seven-fold increase in female billionaires over last 20 years

The number of female billionaires grew by a factor 6.6 from 1995 to 2014
The number of female billionaires grew by a factor 6.6 from 1995 to 2014
Colm Kelpie

Colm Kelpie

The number of female billionaires has grown seven-fold over the last 20 years, with Asia seeing the greatest increase, a report has found.

While the vast bulk of female billionaires come from the US and Europe, more than half of Asian billionaires are self-made, compared to just 19pc in America, and 7pc in Europe, according to the study by financial services group UBS and consultants PwC.

The number of female billionaires grew by a factor 6.6 from 1995 to 2014, and the number of men by a smaller factor of 5.2.

The report also shows that such extreme wealth doesn't necessarily last.

From 1995's billionaires, only 40pc have prevailed over the last 20 years.

UBS, which offers wealth- management services, tallied 1,347 billionaires from around the world in the study but declined to name any of them.

Men still accounted for the overwhelming majority of billionaires, but women made up 11pc last year, up from 9pc two decades earlier.

Asia has seen the strongest growth rates for female billionaires over the last decade, to 25 from three.

Just over half of the female Asian billionaires made their own money, UBS said, with many of the women hailing from China and Hong Kong and much of the wealth coming from real-estate investments.

From 1995's class of 289 billionaires, 66 have died, 24 fortunes have been lost through family dilution and a further 73 have disappeared due to business problems and other reasons.

Irish Independent

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