The number of female billionaires worldwide has increased nearly sevenfold since 1995 and it is Asian entrepreneurs who are driving this growth, according to a study jointly conducted by UBS and PwC. The report claims that women are outpacing men when it comes to growth of wealth and rank. There are now 145 female billionaires as compared to 22 in 1995.
The study also shows a significant increase in the number of female billionaires within Asia. Ten years ago, there were three Asian female billionaires. This figure has now swelled to 25 – with more than half of them being first-generation entrepreneurs.
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The report indicates that the top three sectors in which these first-generation female entrepreneurs made their wealth are real estate, industrials and health.
Female billionaires in Asia also tend to be younger than their counterparts in other geographical locations – with an average age of 53.
In 1995, there were 289 billionaires globally. By 2014, there were 1,347. However, the billionaire club is still very much dominated by men over 60 years of age. There are 1,202 male billionaires today, but their number has only grown by a factor of 5.2.
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