Girls rule, boys drool! The world’s female billionaire population has grown 660% over the past two decades, according to a new report.
A record 145 women around the world are now billionaires, compared to just 22 in 1995, finds a study by UBS and PricewaterhouseCoopers. They’re largely building their wealth in real estate, industrials and health.
“Women are taking their place in the elite club of billionaires, both as entrepreneurs in their own right and as leaders of family dynasties,” said the report. “Women are wielding greater influence, driving family wealth creation, promoting firm and family governance, and championing philanthropy.”
Eighty percent of the world’s female billionaires are in the U.S. and Europe, but most have inherited their riches. New wealth creation is increasingly shifting to Asia, where more than half of the women billionaires are first-generation entrepreneurs.
The number of male billionaires is growing at a slower rate — 520% since 1995 — but the global billionaires’ club is still largely dominated by men. They account for 90% of the world’s billionaires.
Going forward, more women are expected to join the billionaire club, as “daughters [are] groomed to take an active role in leading the family and its business,” said the report.
Overall, the world’s wealthiest are getting richer much faster than the global economy. In the past two decades, billionaires’ wealth has increased eightfold to $5.4 trillion in 2014, while global GDP has tripled to over $77 trillion.
The report is based on PwC data on more than 1,300 billionaires around the globe, along with many interviews with the world’s elite.