A few decades ago, the billionaires' club was virtually closed to women. However, recent years have shown a shift in the dynamics of global wealth. According to the research company Altrata, the number of billionaires worldwide by the end of 2023 had reached 3,323, with 431 of them being women. While they still represent a minority, this trend signals long-term changes in the structure of the financial elite.

Inheritance vs. entrepreneurship: how women build their wealth

Despite the growing number of female billionaires, a significant portion has acquired their wealth through inheritance. More than 75% of women in this exclusive club have received at least part of their fortune through inheritance, compared to only a third of men. Around 38% of female billionaires — including Françoise Bettencourt Meyers, Alice Walton and Jacqueline Mars — owe their billionaire status entirely to family wealth.

However, each year, more women join the billionaires' club by building their fortunes from scratch. In 2024, Taylor Swift entered the ranks for the first time, surpassing the billion-dollar mark thanks to her record-breaking tours, while Melanie Perkins, co-founder of Canva, cemented her place as a global business leader. They joined trailblazers like Kiran Mazumdar-Shaw (biopharmaceuticals) and Diane Hendricks (construction), who have become icons of female entrepreneurship.

Interestingly, women who built their wealth from scratch are, on average, younger than those who inherited their fortunes. The average age of self-made female billionaires is 64, while heirs are typically over 70.

While many female billionaires have traditionally been linked to family assets in cosmetics, retail and pharmaceuticals, those who have built their fortunes independently are most often found in finance and technology. These industries also dominate among male billionaires, but women typically face higher barriers to entry.

Female billionaires and social impact

While male billionaires tend to invest in business and industry, women are more likely to focus on philanthropy. According to Altrata, 20% of female billionaires dedicate a significant portion of their time to charitable and social initiatives — four times more often than men.

This trend may be linked to the fact that inherited wealth often comes with a sense of social responsibility. Female billionaires show a particular interest in education, environmental protection, the arts and child welfare, making them a significant force in global philanthropy.

In addition to their social engagement, female billionaires spend their wealth differently than men. They are 1.5 times more likely to invest in luxury real estate and 1.3 times more likely to acquire art. These assets not only highlight their status but also serve as tools for preserving and growing their wealth.