RESEAR CH + RANKINGS
The growing influence of female wealth holders
is widely documented. The global wealth of women is expected to grow from $13 trillion to $18 trillion by 2021, UBS calculated. The female billionaire population grew faster than that of their male billionaire peers, growing by a factor of 6.6 compared to a factor of 5.2 for men, according to The Changing Faces of Billionaires report by UBS/ PwC in 2016. Female billionaires are driving their families’ businesses—57% in the US, 63% in Europe and 96% in Asia were active wealth creators in those businesses. More than half of Asia’s female billionaires are self-made, compared to a global average of 20%. Another study by PwC, of more than 450,000 seed
crowd funding campaigns from nine of the largest global crowd funding platforms, found female-led campaigns were 32% more successful at reaching their funding target than male-led campaigns. Women, more often than men, are asking for
impact investment related services (60% women, 40% men), Toniic found in its T100: Insights from Impact Advisors and Consultants in 2017. Women are also the critical decision-makers in
matters of family wealth. They will receive most of the estimated $3.2 trillion expected to be transferred to the next generation in the United States in coming years, according to RBC Wealth Management.
Wit and wisdom This cross-section of Leading Ladies, regardless of generation or whether their wealth was self-created, inherited or married into, credited their parents for instilling the work ethic and societal principles they held today. Respect and consideration for others, a
commitment to decency, and a duty to give back to society were unifying qualities these women were raised with. Those who grew up in privilege were taught to appreciate their good fortune, despite money never being talked about, to the point of wealth being “taboo”, one woman says. Parents who created their wealth did not feel the need to flaunt it, with another participant saying her father was not interested in “flashy cars” because “he did not look for status.” Anat Bar-Gera, telecommunications and internet
entrepreneur and influencer, says she learned about “pulling oneself up by the bootstraps” by following her parents’ example. “My parents were both in the second world war,” Bar-Gera says.
ISSUE 72 | 2018
Having material things is amazing, but because my parents did not have any money until they were older, they still lead normal lives
“They fled out of Europe to Israel. My father was
not able to finish high school because of the war and my parents did not have a penny on them when we arrived. My father opened a business, saved money and went to university… He was somebody who goes through hardship in life and comes out of it a winner, thanks to his strong ambitions and hard work.” But what of those women lucky enough not to
have endured difficult formative years? Diligent but nurturing parents made the difference for Sarah Naef, the millennial chief financial officer of her father’s underfloor piping and drinking water technology Naef Group. “Even though my parents were busy founding and
running the company, they always had time for us,” Naef says. “They loved us and respected us. They also
encouraged us to study. This has had a major bearing on the person I have become. Having material things is amazing, but because my parents did not have any money until they were older, they still lead normal lives. They say the most important thing in life is love. For me, they are role models.”
Estate of play However, the ‘actions speak louder than words’ ethos their parents exemplified had consequences as the Leading Ladies matured into career women. The “taboo” topic of how to manage wealth was talked about in their families not nearly as much as the day- to-day operations of the business were. Gender roles became boundaries for some of the
women interviewed, as affluent patriarchs engaged their sons, not their daughters, in hard wealth management decisions, just as they had not engaged their wives, who consequently could not pass on their knowledge themselves.
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