Australia places fifth globally for producing the highest number of female billionaires.
That’s according to the latest study from City Index, which scraped Forbes’ live billionaire tracker to find the country producing the most female billionaires, the richest woman according to the tracker and also the overall net worth of female billionaires in the country.
Australia ranks joint 5th
Australia, India and Hong Kong tie in fifth place, with each country home to nine female billionaires. While each country represents less than a tenth of the number of female billionaires in the US, their self-made billionaires shine. The world’s richest self-made woman, Hong Kong tech mogul Zhou Qunfei, boasts a net worth of $6.6 billion, while Canva co-founder Melanie Perkins (featured image, net worth $3.62 billion) hails from Perth in Australia. Indian businesswoman and politician Savitri Jindal and her family boast a wealth of $16.96 billion, making her the richest woman in India.
USA is home to the most female billionaires
According to City Index, the United States has the highest number of female billionaires in the world with 92 in total, double that of China in second place with 46. While the US might be home to some of the highest profile male billionaires, 4 out of the 5 richest women in the world, including Walmart heiress Alice Walton, also hail from the states. The combined net worth of female billionaires in the US totals $906.44 billion AUD, surpassing the net worth of Chinese billionaires in second with a total net worth of $205.20 billion AUD.
Germany takes third place with 32 female billionaires, just over a third than that of the US. These include German automotive empire heiress Susanne Klatten ($27.58 billion), and the family of Francine von Finck ($8.27 billion), daughter of late billionaire businessman August von Finck Jr. The combined net worth of female billionaires in Germany totals $156.42 billion AUD. This is 5 per cent less than the net worth of French billionaires, despite France being home to six times fewer rich females.
In fourth place, the second European country in the top ranking, Italy, is home to 16 female billionaires, half that of nearby Germany. Campari heiress Alessandra Garavoglia ($3.44 billion) and iconic designer Miuccia Prada ($5.24 billion) head up the list of Italian female billionaires, a testament to the country’s love of food and fashion. The combined net worth of the 16 female billionaires in Italy is $59.32 billion AUD – 15 per cent less than Australian women who have a combined net worth of $70.40 billion AUD, with almost half the number of billionaires (9).
The Rinehart family make up almost half (44 per cent) of Australia’s female billionaires, with heiress and mining tycoon Gina Rinehart’s $43.17 billion AUD net worth taking first place, making her the richest woman in Australia. Her three daughters, Ginia Rhinehart, Bianca Rhinehart and Hope Welker are all worth at least $3 billion AUD, with Bianca and Hope each worth $3.14 billion, and Ginia taking the edge with $3.16 billion; still just 7 per cent of her mother’s current fortune.
Canva mogul Melanie Perkins takes second place with her $5.27 billion AUD net worth, still an 88 per cent drop from Gina Rinehart’s colossal wealth. Melbourne’s heiress sisters Fiona Geminder and Heloise Pratt are worth $3.77 billion AUD and $3.17 billion AUD respectively, with Fiona’s $700,000,000 increase perhaps due to her stakes in Visy and Pact Group.
City Index comments:
“Of the nine Australian female billionaires, only one has made her wealth solely through entrepreneurship. Melanie Perkins — the CEO and co-founder of Canva — first conceptualized the design program at the age of 19, which later evolved into a unicorn company valued at $40 billion. Perkins’ idea for the platform was reportedly rejected by over 100 venture capitalists before receiving funding from a combination of US and Australian investors.
“In contrast, the remaining eight Australian female billionaires inherited their wealth, four of whom were from the Rinehart family alone. Gina Rinehart, the family’s matriarch, amassed her billions after inheriting her father’s Iron Ore business Hancock Prospecting, with some of the wealth later passed onto her daughters (Bianca, Hope and Ginia) through a family trust fund.”
