Women billionaires changing the future of global wealth

The growing financial power of women is driving a significant transformation in the make-up of the global billionaire class. UBS’s Billionaire Ambitions Report 2025 shows that although women remain a minority among the world’s wealthiest individuals — 374 compared with 2,545 men — their average wealth is increasing at more than twice the pace of men’s. Female billionaire wealth rose 8.4 per cent in 2025 to $5.2bn, compared with 3.2 per cent growth for men to $5.4bn.

The total wealth held by female billionaires is now estimated at $1.9tn, accounting for just 12 per cent of the global total of $15.8tn.

“In fact, women’s average wealth has grown at a faster rate than men’s over the past four years, and that trend is likely to continue,” says Benjamin Cavalli, head of strategic clients and global connectivity at UBS Global Wealth Management and co-head Emea OneUBS.

“Wealth transfer doesn’t always go to the children first; it often goes to spouses or partners as widows or simply the next in line. That’s why we look at wealth trends not just for the next generation, but for the next in line.”

This growth, according to UBS, is linked with the biggest forces reshaping global wealth: the great inheritance wave, the international dispersal of families and the growing desire among wealthy parents to see their children — sons and daughters alike - succeed independently rather than simply live off capital.

This momentum is also challenging long-established norms. “It is a complete shift from traditional anthropological roles where men were assumed to be the ‘head’ of the family,” says April Rudin, founder and chief executive of New York-based wealth marketing strategy firm The Rudin Group. She argues that the rise of female billionaires is prompting a subtle but far-reaching redefinition of family identity, expectations and leadership.

Female founders

Billionaires are estimated to transfer approximately $6.9tn of wealth globally by 2040, with at least $5.9tn set to be passed to children, either directly or indirectly through spouses.

Inheritance remains the dominant source of women’s billionaire wealth. More women became billionaires through inheritance than any other route in 2025: of the 43 women who reached the threshold last year, 27 inherited their wealth and 16 were self-made.

But the landscape is evolving. New fortunes built by women are emerging, particularly in Asia-Pacific, which now has the highest proportion of self-made female billionaires, according to UBS. The trend reflects rapid economic expansion and women’s growing presence in high-growth sectors.

“More women are becoming entrepreneurs than ever before, and more female-founded companies are reaching unicorn status,” says Mr Cavalli. “So even a few major business exits can create noticeable movement in terms of wealth.”

Self-made women are also influencing the image of billionaire wealth. “Women billionaires have the opportunity to shift the perception and reality of what being a billionaire really means,” says consultant Ms Rudin. “Women tend to be less ‘showy’ and more intentional in how they display wealth, often thinking about the attention that public displays might bring for their family, personal safety, public image and their ability to make societal change.”

Growing gap

But the wealth industry still lacks a coherent strategy for serving women as they rise the wealth ladder, argues Ms Rudin. Most firms continue to build service models, technologies and value propositions “signalling more to the values and needs of patriarchs instead of matriarchs”, leaving a large gap in how female clients are understood and supported. “Women should be served as personalised, customised investors, not herded into a category called ‘women’. There is no equivalent segmentation for men.”

Even basic differences, such as longer female longevity and distinct planning needs, are too often overlooked in client experience design, she says.

Women’s investment behaviour is also playing a growing role in how global wealth is managed.

“Women are more risk-averse but more disciplined than men; they don’t sell at market lows, so they are less emotional, and have more diversified portfolios, often prioritising sustainability or impact investing and philanthropy,” says Mr Cavalli at UBS.

These patterns align closely with investment priorities of billionaire families overall. Despite market volatility, more than 40 per cent of billionaires plan to increase exposure to equities and risk assets, with particular interest in private equity, hedge funds and infrastructure. Women’s long-term orientation and preference for diversified, sustainability-aligned portfolios complement these broader strategic shifts.

Heir time

Family values and expectations are also evolving in ways that elevate women’s roles. UBS reports that 82 per cent of billionaire parents want their children to develop the skills and values to succeed independently, rather than rely on inherited wealth.

More than two-thirds hope their heirs will pursue their own passions. These aspirations, emphasising purpose, responsibility and independence, mirror themes frequently prioritised by women within wealthy families, particularly around philanthropy, social impact and legacy.

Women’s rising influence also intersects with increasing international mobility of billionaire families. The report finds 36 per cent of billionaires have relocated at least once and 9 per cent are considering doing so, with motivations including quality of life, geopolitical concerns and tax efficiency.

As mobility becomes a defining feature of wealthy families, decisions around residence, education and global structuring are increasingly embedded in broader family governance discussions, where women play a growing role.

Women’s rising financial power presents both a strategic opportunity and potential vulnerability.

Loyalty revisited

Wealth managers recognise the greatest loss of assets tends to occur at moments of transition, particularly when a patriarch dies and his spouse or children reassess their loyalty to long-standing advisers.

“We are seeing an increasingly obvious demand by the next generation of clients, who do not want to bank with the same adviser as their parents,” acknowledges Mr Cavalli, adding this pattern is equally true for widows who inherit significant wealth.

“We’re getting unfiltered feedback,” he says, describing how programmes like Family Ties and the alumni network connect the bank with younger clients across the US, Europe and Asia-Pacific.

These initiatives connect generations and help the bank better understand what younger clients want and expect. “The current banker might not be the future banker” once wealth changes hands. Listening early helps the bank prepare for transitions, whether to heirs or widows, and reduces the risk of being caught off guard when client needs evolve, says Mr Cavalli.

This is where Ms Rudin sees one of the wealth industry’s greatest blind spots and opportunities. “The percentage of women inheritors who change advisers after their husband’s demise is staggering - somewhere around 75 per cent, although most firms and advisers would deny this for their own practice,” she argues.

“Women have no relationship or are unhappy with the relationship their husbands maintained, and given the power to change, will do so,” she says.

Value shopping

This is not a trend that can be reversed with a few late-stage meetings after a patriarch’s death. Instead, she argues, firms should recognise the inevitability of this shift and focus on delivering a “truly personalised client experience”, a model more akin to luxury brands, tailored to individual needs rather than legacy relationships.

Wealth firms should view this not as a threat but as “one of the largest growth opportunities ever”, says Ms Rudin, particularly as newly empowered (male and female) inheritors will be “shopping” for advisers who offer stronger alignment on values, communication and service.

UBS has launched a multi-year strategy to better engage and retain women across the wealth cycle. Adviser training is a key pillar: 900 advisers across 15 markets have been trained to offer, “customised wealth advice aligned to women’s values”. This approach draws on behavioural finance and the UBS Wealth Way planning framework, says Mr Cavalli.

Client engagement has also expanded. The bank held more than 100 women-focused events in 2025, reaching 6,000 female investors globally, as well as regional initiatives that create peer-to-peer communities for female clients.

The bank also supports entrepreneurship through Project Female Founder, a global accelerator programme, which has assisted nearly 200 early-stage women-led companies across 25 countries over the past four years.

“The final pillar,” says Mr Cavalli, “is UBS’s focus on wealth insights and thought leadership to better understand what drives women investors, what they need and what they expect from a firm like UBS. This remains a core priority.”

Looking ahead, wealth strategist Ms Rudin is optimistic that the industry, and society will continue to move forward. “As the mother of two GenZ sons,” she concludes, “I think that we will evolve as a society where gender will matter less and we’ll look back on topics like this as period pieces. Like doctors recommending pregnant women smoke to avoid weight gain.”