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
This stylish family home combines a classic palette and finishes with a flexible floorplan
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
New research suggests spending 40 percent of household income on loan repayments is the new normal
Requiring more than 30 percent of household income to service a home loan has long been considered the benchmark for ‘housing stress’. Yet research shows it is becoming the new normal. The 2024 ANZ CoreLogic Housing Affordability Report reveals home loans on only 17 percent of homes are ‘serviceable’ if serviceability is limited to 30 percent of the median national household income.
Based on 40 percent of household income, just 37 percent of properties would be serviceable on a mortgage covering 80 percent of the purchase price. ANZ CoreLogic suggest 40 may be the new 30 when it comes to home loan serviceability. “Looking ahead, there is little prospect for the mortgage serviceability indicator to move back into the 30 percent range any time soon,” says the report.
“This is because the cash rate is not expected to be cut until late 2024, and home values have continued to rise, even amid relatively high interest rate settings.” ANZ CoreLogic estimate that home loan rates would have to fall to about 4.7 percent to bring serviceability under 40 percent.
CoreLogic has broken down the actual household income required to service a home loan on a 6.27 percent interest rate for an 80 percent loan based on current median house and unit values in each capital city. As expected, affordability is worst in the most expensive property market, Sydney.
Sydney
Sydney’s median house price is $1,414,229 and the median unit price is $839,344.
Based on 40 percent serviceability, households need a total income of $211,456 to afford a home loan for a house and $125,499 for a unit. The city’s actual median household income is $120,554.
Melbourne
Melbourne’s median house price is $935,049 and the median apartment price is $612,906.
Based on 40 percent serviceability, households need a total income of $139,809 to afford a home loan for a house and $91,642 for a unit. The city’s actual median household income is $110,324.
Brisbane
Brisbane’s median house price is $909,988 and the median unit price is $587,793.
Based on 40 percent serviceability, households need a total income of $136,062 to afford a home loan for a house and $87,887 for a unit. The city’s actual median household income is $107,243.
Adelaide
Adelaide’s median house price is $785,971 and the median apartment price is $504,799.
Based on 40 percent serviceability, households need a total income of $117,519 to afford a home loan for a house and $75,478 for a unit. The city’s actual median household income is $89,806.
Perth
Perth’s median house price is $735,276 and the median unit price is $495,360.
Based on 40 percent serviceability, households need a total income of $109,939 to afford a home loan for a house and $74,066 for a unit. The city’s actual median household income is $108,057.
Hobart
Hobart’s median house price is $692,951 and the median apartment price is $522,258.
Based on 40 percent serviceability, households need a total income of $103,610 to afford a home loan for a house and $78,088 for a unit. The city’s actual median household income is $89,515.
Darwin
Darwin’s median house price is $573,498 and the median unit price is $367,716.
Based on 40 percent serviceability, households need a total income of $85,750 to afford a home loan for a house and $54,981 for a unit. The city’s actual median household income is $126,193.
Canberra
Canberra’s median house price is $964,136 and the median apartment price is $585,057.
Based on 40 percent serviceability, households need a total income of $144,158 to afford a home loan for a house and $87,478 for a unit. The city’s actual median household income is $137,760.
Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.
Consumers are going to gravitate toward applications powered by the buzzy new technology, analyst Michael Wolf predicts