In this article, we will look at the 20 countries in the world with the most female billionaires. If you want to skip our detailed analysis, you can go directly to the 5 Countries in the World With the Most Female Billionaires.
Female Billionaires
The number of female billionaires has increased by almost 70% from 2015 when there were only 197 female billionaires. As per Forbes, there are 331 female billionaires, as of March 2023. Although the number of female billionaires has declined from 337 individuals in 2023 to 331 individuals in 2024, the overall female entrepreneurial economy is improving. According to the Women Entrepreneurship Report 2023 by GEM, over 48.6% of women were involved in the wholesale and retail sector compared to 40.1% of men in 2022. Around 17.6% of women work in Government, Health, Education, and Social Services sectors compared to 10.9% of men. These sectors combined have almost two-thirds of women entrepreneurs compared to one-half of men, which shows how women have progressed in business.
According to the Wealth Report 2024 by Frank Knight, the overall Ultra-High-Net-Worth Individuals (UHNWIs) soared to 626,600 by the end of 2023, a rise of 4.2% compared to 2022. The growth was mainly driven by the rise of UHNWIs in North America and the Middle East. In North America, the UHNWIs increased by 7.2% in 2023 and around 6.2% in the Middle East. Women represent over 11% of the global UHNWIs. This is not a large share, however, it reflects swift growth from just under 8% less than a decade ago. Around 71% of global UHNWIs project their wealth to increase in 2024. High-net-worth individuals (HNWIs) expect a more conservative rise of 65% in their wealth this year. Around 64% of women millennials are more passionate about their wealth growth and a higher percentage of 81% of Gen Z women expect higher growth in 2024, with half of them anticipating ‘significant growth’.
As we have mentioned in our article about the top 25 richest women in the world in 2024, the female-to-male wealth ratio in high-income OECD countries ranged between 65% and 80% before the pandemic. Data for the rest of the world is limited but gives a wide-ranging ratio, with a minimum female-to-male wealth ratio of 25% in some countries. Women are more inclined towards non-financial assets compared to men and they hold a large portion of non-financial assets.
Companies Run by Female Executives
Women business owners have a more positive outlook regarding their businesses in 2024, as we mentioned in our article about the top 20 youngest richest women in the world. Around 53% of women business owners anticipate a rise in their revenue by August 2024. While 45% of women owners plan to expand their business. Women executives run 7% of Fortune 500 Europe companies and 10.4% of women run Fortune 500 global companies. CVS Health Corporation (NYSE:CVS), General Motors Company (NYSE:GM), and Advanced Micro Devices, Inc. (NASDAQ:AMD) are some of the leading companies run by female CEOs and executives.
CVS Health Corporation (NYSE:CVS) is one of the leading healthcare companies in the world. Karen S. Lynch is the president and CEO of the company. On March 27, CVS Health Corporation (NYSE:CVS) announced that it is investing over $3 million in grants to support organizations in Phoenix working to improve health care. Here is what the company’s Senior Vice President of CSR and CSO, Sheryl Burke, said:
“With nearly 12,000 employees working across the state who deliver care through 187 pharmacies, dozens of MinuteClinic®, speciality pharmacy and Oak Street Health® locations, and for a million Aetna® members, this is also a part of our continued work to invest in the communities where we live and work.”
General Motors Company (NYSE:GM) is one of the largest automobile companies in the US. Mary Barra has been serving the automobile company as CEO since January 2014. On January 30, General Motors Company (NYSE:GM) reported its earnings for the fourth quarter of 2023. General Motors Company (NYSE:GM) posted earnings per share of $1.24, beating consensus estimates by $0.10. The company reported a revenue of around $42.98 billion, surpassing estimates by $3.15 billion. Here is what Mary Barra said during the company’s Q4 2023 earnings call:
“As we begin 2024, I believe GM is well positioned for a year of strong financial performance that builds on everything we accomplished and importantly learned in 2023. Consensus is growing that the US economy, the job market, and auto sales will continue to be resilient. At GM we expect healthy industry sales of about 16 million units. We have an unmatched ICE portfolio in North America, rising EV production on the LTM platform and GM Financial continues to perform well. We’re building on a foundation of products that our customers love. In 2023, GM sold more vehicles in the US than anyone else. All of our US brands grew their sales year-over-year and gained US market share with healthy margins, thanks to stable pricing and incentives that were more than 20% below the industry average.”
Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the leading semiconductor firms in the world. Lisa Su has been running the chipmaker since October 2014. On March 29, MarketWatch reported that Su earned a total compensation of $30.35 million in 2023, almost 80% more than what Intel Corporation’s (NASDAQ:INTC) CEO, Patrick P. Gelsinger, made. On January 30, Advanced Micro Devices, Inc. (NASDAQ:AMD) reported earnings for the fourth quarter of 2023. The company posted earnings per share of $0.77. The revenue amounted to $6.17 billion, beating estimates by $29.40 million. Here are some comments from Advanced Micro Devices, Inc.’s (NASDAQ:AMD) Q4 2023 earnings call:
“Looking at 2024, we are planning for the PC TAM to grow modestly year-on-year, weighted towards the second half as AI PCs ramp. We continue to see strong growth opportunities for our client business as we ramp our current products, extend our AIPC leadership and launch our next wave of Zen 5 CPUs. Now turning to our Gaming segment. Revenue declined 17% year-over-year and 9% sequentially to $1.4 billion as lower semi-custom revenue was partially offset by increased sales of Radeon GPUs. Semi-custom SoC sales declined in line with our projections in the quarter. Going forward, we now expect annual revenue to decline by a significant double-digit percentage year-over-year as supply caught up with demand in 2023, and we entered the fifth year of what has been a very strong console cycle.”
Women continue to thrive and Lisa Su is a perfect example of how women are working at the top level. With that said, let’s take a look at the 20 countries in the world with the most female billionaires.
20 Countries in the World With the Most Female Billionaires
Our Methodology
For our list of the 20 countries in the world with the most female billionaires, we took the data from the Forbes Real Time Billionaires list, as of March 30. The countries with the most female billionaires are ranked in ascending order of the number of female billionaires. We have also listed the richest females from each country. In countries with similar numbers of billionaires, we have used the richest female with the highest net worth from each country as a tie-breaker.
20 Countries in the World With the Most Female Billionaires
20. Indonesia
No. of Female Billionaires: 3
Richest Female, Net Worth: Dewi Kam, $4.3 Billion
Indonesia is one of the richest Southeast Asian countries and has three female billionaires. The richest female in Indonesia is Dewi Kam who has a net worth of around $4.3 billion. Indonesia ranks 20th among the countries in the world with the most female billionaires.
19. Denmark
No. of Female Billionaires: 3
Richest Female, Net Worth: Sofie Kirk Kristiansen, $6.4 Billion
Denmark has three female billionaires and the richest female in the country is Sofie Kirk Kristiansen.
18. United Kingdom
No. of Female Billionaires: 3
Richest Female, Net Worth: Denise Coates, $9.3 Billion
The United Kingdom is one of the largest economies in the world. The United Kingdom has three female billionaires and Denise Coates is the richest among them with a net worth of around $9.3 billion. The United Kingdom ranks among the countries in the world with the most female billionaires.
17. Japan
No. of Female Billionaires: 4
Richest Female, Net Worth: Yoshiko Mori, $1.8 Billion
Japan has four female billionaires and it is one of the countries in the world with the most female billionaires. Yoshiko Mori is the richest Japanese female billionaire.
16. Türkiye
No. of Female Billionaires: 4
Richest Female, Net Worth: Ipek Kirac, $3.4 Billion
Türkiye’s richest female billionaire is Ipek Kirac and she is also one of the youngest richest female billionaires in the world. With a total of four female billionaires, Türkiye ranks among the countries with the most female billionaires in the world.
15. Israel
No. of Female Billionaires: 4
Richest Female, Net Worth: Shari Arison, $5.5 Billion
Israel ranks 15th among the countries in the world with the most female billionaires. Shari Arison is Israel’s richest female billionaire with a net worth of around $5.5 billion.
14. South Korea
No. of Female Billionaires: 6
Richest Female, Net Worth: Hong Ra-hee, $4.7 Billion
South Korea has six female billionaires and Hong Ra-hee is the richest female billionaire in the country with a net worth of around $4.7 billion.
13. Canada
No. of Female Billionaires: 7
Richest Female, Net Worth: Naomi Azrieli, $1.6 Billion
Naomi Azrieli is the richest female billionaire in Canada. With a total of seven female billionaires, Canada ranks among the countries in the world with the most female billionaires.
12. Sweden
No. of Female Billionaires: 7
Richest Female, Net Worth: Antonia Ax:son Johnson, $10 Billion
Sweden is one of the richest countries in Europe and has seven female billionaires. Antonia Ax:son Johnson is one of the richest female billionaires in the world with a net worth of around $10 billion.
11. France
No. of Female Billionaires: 7
Richest Female, Net Worth: Francoise Bettencourt Meyers, $96 Billion
France ranks 11th among the countries with the most female billionaires in the world as it has seven female billionaires. French billionaire, Francoise Bettencourt Meyers, is the richest woman in the world with a net worth of $96 billion.
10. Spain
No. of Female Billionaires: 8
Richest Female, Net Worth: Sandra Ortega Mera, $10.1 Billion
Sandra Ortega Mera is the richest female billionaire in Spain. With a total of eight female billionaires, Spain is one of the countries with the most female billionaires in the world.
9. Brazil
No. of Female Billionaires: 8
Richest Female, Net Worth: Vicky Safra, $20.3 Billion
Brazil’s richest female Vicky Safra has a net worth of around $20.3 billion. Brazil has a total of eight female billionaires and ranks among the countries in the world with the most female billionaires.
8. Australia
No. of Female Billionaires: 9
Richest Female, Net Worth: Gina Rinehart, $30.3 Billion
Gina Rinehart is the richest person in Australia with a net worth of around $30.3 billion. With a total of nine female billionaires, Australia ranks eighth among the countries in the world with the most female billionaires.
7. Switzerland
No. of Female Billionaires: 9
Richest Female, Net Worth: Rafaela Aponte-Diamant, $33.1 Billion
Switzerland’s Rafaela Aponte-Diamant is one of the richest women in the world. Switzerland has a total of nine female billionaires.
6. Hong Kong
No. of Female Billionaires: 11
Richest Female, Net Worth: Kwong Siu-hing, $11.7 Billion
Hong Kong has a total of 11 female billionaires and ranks among the countries in the world with the most female billionaires. Kwong Siu-hing is the richest female billionaire in Hong Kong.
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Disclosure: None. 20 Countries in the World With the Most Female Billionaires is originally published on Insider Monkey.