The female share of the global UHNW population is on the rise, according to a Julius Baer report.
In 2023, there were 43,457 female ultra-high net worth (UHNW) individuals – defined as those with a minimum wealth of $30 million – and 337 female billionaires, according to a report by Julius Baer.
This accounted for 11 percent and 13 percent of the global UHNW and billionaire population, respectively. Although still a low base, this has risen compared to 2010 when women made up 6.5 percent of UHNW individuals and 9 percent of billionaires.
Source, Profile
In terms of the source of wealth, self-made women comprised just 45.2 percent of the UHNW group, compared to 75.7 percent for men. By industry, female wealth tends to be associated with the «old economy» sectors like food and beverage, retail, and manufacturing.
The report also highlights that the typical UHNW woman tends to be over 60 years old and is a widow, heiress or stay-at-home wife. They mostly come from the US, China or developed parts of Europe.
Asset Allocation
Interestingly, there are a number of similar asset allocation characteristics between men and women. For example, both tend to place a higher weighting in liquid assets.
In terms of differences, there is a greater impetus for female HNW individuals to actively manage their wealth «given their longer life expectancy and less experience in making large financial decisions».
The Julius Baer report is based on data and insights from multiple sources including Capgemini Research Institute, CityLine, DailyFX by IG, Forbes, GlobalData, Statista, Wealth-X by Altrata, WealthiHer Network and more.
