Ninety percent of global multimillionaires are male, survey reveals
The global multimillionaire gender divide has been revealed by Spears Magazine in association with wealth consultancy company WealthInsight.
The research revealed that 90% of the world’s multimillionaires are male and only 10% female. A number of developed liberal economies are below the global average in terms of the percentage of female multimillionaires including Japan (3.7%), Netherlands (5.9%), France (8.5%) and USA (9.4%).
As the survey showed, Portugal is the most equal country for multimillionaires in the world, with 24% of them being women. The UK sits instead 15th in the world and 10th in Europe in terms of its percentage of female multimillionaires (11.4%). Japan is the most unequal country with only 3.7% female, followed by Saudi Arabia (3.8%), Mexico (5.3%), Russia (5.7%), Netherlands (5.9%), Belgium (6.0%) and New Zealand (6.3%).
Josh Spero, editor of Spear’s magazine, said: “The top ten most equal countries for multimillionaires are a diverse bunch and almost certainly not the ones you would have predicted. It certainly seems that Asia is leading the way in gender equality, perhaps reflecting emerging markets whose developing, increasing wealthy economies are not bound by old forms of gender discrimination in business.”
He also added: “There are also surprises about the least equal countries for multimillionaires, although some are obvious: In Saudi Arabia, women can only work in jobs which don’t bring them into contact with men, which obviously stifles economic opportunity. Countries like the Netherlands, Belgium and New Zealand we might well assume had a fairer distribution of wealth with their liberal politics and diversified economies, so it is surprising to find otherwise.”
According to Oliver Williams of WealthInsight: “There seems to be no correlation between emerging and developed countries in the top 10 female multimillionaire countries. However, if you consider that Hong Kong and Singapore are home to many of emerging Asia’s multimillionaires, it appears that most of the top 10 countries are in fact emerging markets. This is a startling realisation when you think that it is Western countries leading the way in promoting gender equality.”