Women Are Outpacing Men On Path To Billionaire Status
If you needed another reason to blast Beyoncé’s “Run the World (Girls),” here’s one: women are outpacing men on the path to becoming billionaires.
According to a study by UBS, only twenty women in the world had billionaire status twenty-two years ago. However, that number has jumped to 145 in recent years. Yes, women have boosted their billionaire status seven-fold, while the population of male billionaires has only grown by a factor of 5.2.
Of course, the billionaire’s club is still male dominated, there are currently 1,202 male billionaires, but if women continue to break through this glass ceiling at this rate, it’s only a matter of time before the numbers are more even.
“Although female billionaires remain a minority, the growing opportunities for women to accumulate wealth suggests female entrepreneurs will drive significant growth in the number of billionaire women,” the study explains.
Leading the group of women billionaires are Asian women, and according to the report, more than half of them are first-generation billionaires. In 2005, there were just three Asian women billionaires, now there are 25.
While not all of us will achieve billionaire status in our lifetimes, this is still great news for women entrepreneurs.