Women inherit billions in global wealth transformation
More than a dozen women in the world’s 500 richest people have become billionaires after the death of a spouse, the highest number ever according to Bloomberg
Wall Street has been preparing for years for the $105 trillion set to move from aging parents to their heirs. But while everyone was watching the next generation, another kind of wealth transfer has been quietly reshaping the world: women inheriting vast fortunes from their late spouses and taking the reins of global empires.
According to the Bloomberg Billionaires Index, more than a dozen women among the world’s 500 richest people have become billionaires after the death of a partner, overseeing a combined $365 billion in wealth, a figure that’s nearly tripled since 2016.
This marks what experts are calling a “sideways succession boom”. And it’s redefining how money moves, how businesses are run, and how philanthropy is practiced.
The Rise of the “Sideways” Successor
Michelle Yue, co-founder of The Beam Network, a financial education platform for wealthy women, describes the shift: “It’s a growing trend. Yet the wealth management industry still treats spouses - especially women - as peripheral when they are central to succession.”
These are not passive inheritances. Many of these women have become active, transformative leaders, navigating personal tragedy while steering powerful businesses into new eras.
“We’re seeing this historic shift where women are inheriting from their husbands,” said Emma Wheeler, head of women’s wealth at UBS Group AG’s global wealth-management unit. “We’re seeing a whole new kind of intra-generational wealth transfer.”
Renata Kellnerová inherited one of Europe’s largest private fortunes after the sudden death of her husband, Czech billionaire Petr Kellner, in a 2021 helicopter crash. In just a few years, she restructured the family’s PPF Group, driving billions in growth and ensuring its continued influence across finance, media, and telecommunications.
The Gender Wealth Boom
The shift is not limited to inherited wealth. The number of self-made women billionaires has tripled since 2016, with most based in Asia, including Zhong Huijuan, the founder of Hansoh Pharmaceutical, and Tatyana Kim, who built Wildberries into Russia’s largest online retailer.
Altogether, the ultra-wealthy women on Bloomberg’s index now control $1.3 trillion in assets - from China’s Zhou Qunfei (touchscreen manufacturing) to Mexico’s María Asunción Aramburuzabala (beer and beverages), and Australia’s Gina Rinehart (mining).
Different Leaders, Different Lenses
Research consistently shows that women approach investing differently. A 2023 Fidelity Investments study found women tend to take a longer-term, steadier approach which is less reactive during downturns and less speculative overall. Similarly, a Warwick Business School study found that female investors’ more measured strategies often outperformed male counterparts.
And that’s changing how wealth is used. Female-led businesses and family offices are increasingly emphasizing social impact and sustainability, prioritizing purpose alongside profit.
Philanthropy as a Financial Strategy
Kathleen Grace, CEO of Fiduciary Family Office, has seen the philanthropy shift firsthand: “Many of our male clients are focused on creating generational wealth first. I do see a growing trend of women building their financial plan around philanthropy.”
The late Steve Jobs’s widow, Laurene Powell Jobs, channels her wealth into The Emerson Collective, a powerhouse in education, immigration, and environmental initiatives. Julia Flesher Koch continues their philanthropic legacy through new charitable ventures under her own name after the death of her husband David. And Christy Walton has built a global network of foundations focused on empowering young people in rural communities following the death of her husband John.
Wealth, Grief, and Reinvention
“For many widows, inheriting wealth is a dual burden of profound grief and sudden financial stewardship,” says Sin Ting So of Endowus, a wealth platform for private clients. “They often face a steep learning curve.”
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Behind every headline figure is a deeply human story. Inheriting billions often coincides with profound personal loss and can bring emotional and legal turbulence. Several high-profile widows - from Ariane de Rothschild to Gayle Benson of the New Orleans Saints - have faced public succession battles before emerging as seasoned, assertive leaders.
The Future of Financial Power
The “sideways” succession boom isn’t just a financial story, it’s a cultural one. It challenges long-held assumptions about who leads, who invests, and whose values define the future of capitalism.
Women are not only inheriting wealth, they’re redefining what it means to own it.
Adapted from Bloomberg reporting
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Regarding the article, this is a trully insightful piece. You’ve highlighted a crucial, often overlooked, shift in global wealth dynamics. It's fascinating how 'sideways successions' are redefining leadership. From a tech perspective, I see parallels in how new data insights can elevate previously peripheral actors. Excellent perspective!