Thursday, 17 December 2015

Fact of the Day: How Women get Rich

There are some very wealthy women in Hong Kong...
What's the easiest way for women to get rich in Hong Kong?

Inherit the money from their husbands or fathers.

That's according to a report by Swiss bank UBS, which found about 90 percent of its wealth management arm's top female clients in Hong Kong have at least US$1 billion in this way, while the other 10 percent were self made.

Francis Liu, managing director at UBS Wealth Management said: "Within these clients in Hong Kong, we frequently see female billionaires concentrated in businesses that operate in the real estate and consumer sectors."

The bank, which co-authored the report, found the number of female billionaires in China is rising on the mainland in particular because of the now-defunct one-child policy.

"We see numerous families in which the only child, being a daughter, inherited the family business," said Liu. "In a number of heavyweight listed companies in China, daughters of founders and business leaders have inherited the reins."

The report said Asian women who were billionaires in US dollars were on average 53 years old, whereas in the United States it was 59, and 65 in Europe.

Around the world, the number of female billionaires has increased from 834 in 2010 to 1,347 last year, accounting for 11 percent of the total number of billionaires.

No wonder women in Hong Kong are keen to get rich quick...

No comments:

Post a Comment