Date
26 March 2017
Francis Liu (left) of UBS and Antoinette Hoon of PwC said more than half of the female billionaires in Asia created their own fortunes. Photo: HKEJ
Francis Liu (left) of UBS and Antoinette Hoon of PwC said more than half of the female billionaires in Asia created their own fortunes. Photo: HKEJ

More Asian women joining billionaires’ club: survey

There are now 25 female billionaires in Asia, up 7.3 times from just three a decade ago, a survey showed.

They own about a fifth of the total wealth of the world’s richest women, the Hong Kong Economic Journal reported on Wednesday, citing the results of a survey jointly released by UBS AG and PricewaterhouseCoopers. 

Europe has seen the number of women billionaires rise 1.7 times to 57, while the number of their counterparts in the United States rose 70 percent to 63.

Antoinette Hoon, private banking advisory services partner at PwC Hong Kong, said female billionaires in Europe and the US obtained their fortunes mainly through inheritance while more than half of those in Asia created their own fortunes.

Hoon said 96 percent of the Asian female billionaires remain active in creating new fortunes while the ratios in Europe and the US stand at 63 percent and 57 percent, respectively.

Globally, the number of female billionaires over the last two decades grew 6.6 times, compared with 5.2 times for men. 

The survey also found that 75 percent of the wealth in the world is concentrated in 14 places, according to the data covering more than 1,300 billionaires in a span of 19 years.

About 44 percent of these billionaires are still on the list in 2015, said Francis Liu, head of ultra high net worth division, Greater China, UBS Wealth Management.

These long-time billionaires have an average net worth of US$11 billion, compared with US$2.9 billion 19 years ago.

[Chinese version中文版]

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