According to a survey by Private Banker International’s sister company WealthInsight, in association with Spears magazine, 90% of the world’s multi-millionaires are male.

The most equal country for millionaires is Portugal, where 24% of multi-millionaires are female, and Japan is the least equal with only 3.7% of multi-millionaires being female.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The survey shows that a number of developed liberal economies, including Japan, France and the United States, are below the global average in terms of the percentage of female multi-millionaires.

Oliver Williams of WealthInsight said: "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."

The United Kingdom sits 10th in Europe, and 15th in the world, for gender equality in the multi-millionaire population.

Josh Spero, editor of Spears magazine, said: "As always with the UK’s global performance, it’s a case of ‘could do better’ with the gender balance, sitting near the middle of the table. As our economic recovery takes hold, perhaps we should start thinking about trying to encourage women specifically to pursue entrepreneurial ideas. According to the Harvard Business Review, female entrepreneurs make 20% more revenue with 50% less investment, so helping women get into business is good for us all."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.