UBS/PwC Report: Female Billionaires Outpace Males
Recently, UBS Group AG and PwC launched their joint deep dive report, “The changing faces of billionaires,” which explores the role of women in building lasting financial legacies and how wealth is preserved across multiple generations.
The report’s findings, which build upon UBS/PwC’s 2015 Billionaires Report released last May, "Master architects of great wealth and lasting legacies," revealed that the number of female billionaires is growing faster than the number of their male counterparts. Women have been controlling greater average wealth than men and becoming more influential in family businesses, philanthropic enterprises and governance. The report also highlights the fleeting nature of great wealth, finding that only 126 billionaires or 44 percent of the class of 1995 are billionaires today. It underscores the strategies these prevailing billionaires have employed to build and preserve lasting legacies.
Michael Spellacy, Global Wealth Leader at PwC US: "The report suggests that we need to revisit the old saying ‘The first generation builds the business, the second makes it a success, and the third wrecks it’. Our findings reveal that it is in fact the second generation that all too often undermines the value of the business the first generation created. To prevent this, business decisions must move from the kitchen table to the board room.”
NT
Vietnamese
