The Feminine Touch
Women will inherit 70% of the $41 trillion in intergenerational wealth transfer expected over the next 40 years.”
Boston College’s Center
on Wealth and Philanthropy
Unarguably there is still a very long way to go before true equality is reached. The World Bank’s 2012 World Development Report calculated that women represented 40% of the world’s labour force but held just 1% of the world’s wealth. Nevertheless, the report found, “Since 1980, female participation rate at each level of income has increased sharply”. As birth rates fall, discrimination decreases and educational opportunities improve and THUS the growing feminisation of wealth seems likely to continue. The World Bank report claimed women now account for more than half the world’s university students. And according to Boston College’s Center on Wealth and Philanthropy, women will inherit 70% of the $41 trillion in intergenerational wealth transfer expected over the next 40 years.
Will this shift produce any change in the behaviour of the wealthy? Women tend to donate more of their wealth than men do. The 2009 Barclays Wealth study, Tomorrow’s Philanthropist, showed that women in the U.S. give an average of 3.5% of their wealth to charity, while men give an average of 1.8%.