The World Has 124 Self-Made Female Billionaires
Approximately two-thirds are from China, according to a report.
Approximately two-thirds are from China, according to a report.
The world has 124 self-made female billionaires, approximately two-thirds from China, according to a report released last Tuesday.
The total number of self-made female billionaires was down from 130 recorded a year ago, and their combined wealth decreased 23% year over year to US$370 billion, according to the report.
China has the largest share of self-made female billionaires, accounting for two thirds of the total, with 78. The U.S. and U.K. came second and third, with 25 and 5, respectively.
“Japan, Germany, France, Canada, and S. Korea are the world’s largest economies without a single self-made woman billionaire,” Rupert Hoogewerf, Hurun’s chairman and chief researcher, said in the report. “The 124 known self-made women billionaires come from just 16 countries, meaning that 180-plus countries still do not have a single one.”
The top three self-made female billionaires are all Chinese, including property developer Wu Yajun, with US$17 billion; apparel fibre producer Fan Hongwei, with US$13 billion; and phone accessory assembler Wang Lichun, with US$11 billion.
Hurun’s rankings are based on market data as of Jan. 14.
Only one out of six of the world’s 556 female billionaires made their fortunes on their own and not through inheritance; 80% of self-made women billionaires made their money from listed companies, according to the report.
Healthcare and software services, with 13 each, were the primary industries of the female billionaires. Consumer goods, retail, and energy were the other top sources of their wealth, according to the report.
The youngest self-made female billionaire was Whitney Wolfe Herd, 32. The founder of the dating app Bumble made the list with an estimated net worth of US$1 billion.
Reality TV personality KimKardashian, 41, was estimated to be worth US$2 billion on the back of her beauty brand KKW Beauty. Barbadian singer Rihanna, 34, of Fenty Beauty, joined the list for the first time with US$1 billion.
Reprinted by permission of Penta. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 30, 2022
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The bank posted unaudited cash earnings for the quarter of A$1.7 billion, down 2% on the average of its prior two quarters
National Australia Bank said that higher credit impairments against business loans contributed to a small fall in its unaudited December quarter cash earnings.
NAB , which is Australia’s second-largest bank by market capitalization, on Wednesday posted unaudited cash earnings for its fiscal first quarter of 1.74 billion Australian dollars, equivalent to about US$1.11 billion.
That was down 2% on the average of its prior two fiscal quarters. NAB did not give a year-earlier comparison.
The lender said that revenue grew by 3% compared with the average of its prior two fiscal quarters. Underlying profit growth of 4% over the same period was offset by higher credit impairment charges and income tax expenses, it added.
NAB, which posted an unaudited quarterly statutory profit of A$1.70 billion, said the A$267 million credit impairment charge included A$152 million of individually assessed charges. Those were mainly against Australian businesses and unsecured retail portfolios, it said.
The individual charges were up by 54% compared with a year earlier. NAB said that it had not altered its economic assumptions and scenario weightings.
“The economic outlook is improving but cost of living and interest rate challenges persisted,” Chief Executive Andrew Irvine said. “While most customers are proving resilient, we have maintained prudent balance sheet settings.”
NAB said it had seen a small decline in net interest margin due to funding costs, lending competition and deposits, partially offset by the benefit of higher interest rates.
On Tuesday, the Reserve Bank of Australia cut the country’s cash rate for the first time since 2020 but warned against expecting subsequent near-term cuts.
NAB is still targeting full fiscal-year productivity savings of more than A$400 million, and for operating expenses to grow by less than 4.5%, Irvine said.
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