The number of female billionaires is growing faster than the number of male billionaires, according to new research.
UBS and PwC found that there are far more billionaire women today than there were 20 years ago, and the power they wield over great wealth has grown.
UBS Group and PwC launched a joint deep-dive report, The Changing Faces of Billionaires, which explores the role of women in building lasting financial legacies.
According to the report, the number of female billionaires has grown by a factor of 6.6, from 22 in 1995 to 145 in 2014. By comparison, the number of male billionaires remains far larger at 1,202, but has grown by a relatively smaller factor of 5.2.
Female billionaires are also driving their families’ businesses.
Over two-thirds of billionaire women in the study are “active value creators,” according to the report.
The report considers someone an “active value creator” if they are a driver of wealth creation as an entrepreneur or in the family business, a promoter of family and firm governance, and a passionate philanthropist.
Looking deeper, the report looks at the percentage of female billionaires that are driving wealth creation by region. The report found that 57% of the female billionaires in the US, 63% in Europe and 96% in Asia are active wealth creators.