The Race to a Billion: Men and women are reaching the same wealth levels, but not at the same rates. The number of billionaires for men and women has been on the rise for years. The number of women who are currently billionaires has increased by 268% over the past decade, and they are outpacing their male counterparts in nearly all fields. In 2010, there were only four female billionaires.
Oxfam recently released a study, ahead of the World Economic Forum in Davos, showing that the wealthiest people in the world have more money than the bottom half of the world’s population. Despite repeated warnings about inequality, this gap is still growing. More than half the world’s poor live on less than $5.50 a day, and the gap is widening. Not only does this widening gap fuel public anger in many countries, it also harms the fight against poverty.
In the United States, oil corporations are able to get a large tax break. In Nigeria, billionaires have successfully lobbied for tax cuts. In Brazil, women are becoming the top earners in many fields. The number of billionaires is increasing and women are increasingly dominating traditionally female-dominated sectors. With the rise of the middle class, more women than ever are becoming wealthy.
While there is a huge gap between men and women in the world’s richest, women are largely untouched by the gender wage gap. Almost half of private wealth in the U.S. will be owned by women. In the meantime, men will continue to be underrepresented in the business world. It will be difficult for women to strike the right balance between work and life. But in the end, women will be the winners.
The Race to a Billion: According to UN Population Division, the number of women in the world will be 3.8 billion in 2019. Meanwhile, men will make up 3.7 billion. In contrast, the numbers for the two sexes will remain almost identical at 2.2 billion. The UN estimates that there will be 1.3 billion women in the world by the year 2050. This means that there will be roughly twice as many males as females.
In the world, women have made tremendous strides, but they are still vastly undervalued in the marketplace. The report, titled The Race to a Billion: Men vs. Women: Global statistics reveal that women still lag behind their male counterparts in many areas. Although women have been making great strides for the past century, they remain systematically underserved and undervalued.
The Race to a Billion: Women in the U.S. have a higher median wealth than their male counterparts, but the gender gap is still quite significant. In general, Black and Latina women earn significantly less than White men, and their earnings are nearly identical. The report also shows that women of different races are not equal. While white men are more likely to have more wealth, Latina women are more likely to be poor.
In the United States, the race to a billion dollars is more than doubled among men. Only three women are in the top 10 richest people in the world, while the race between men and women is only four percent. The difference between rich men and poor men and women is staggering, and women are still underrepresented in the ranks of most companies. But that doesn’t mean that they don’t have a leg up on their male counterparts. Some companies, like Target Corp. and Biogen Inc., have been investing in the business for decades.
Single Black women are far more likely to be rich than their male counterparts. The average amount of wealth a single Black woman earns around $300, while single Latina women earn only $100. But this disparity is even more pronounced among white women. The CEOs of fashion brands are among the richest people in the world, but the median wealth of single men is nearly $13,000 lower.