Ultra wealthy women have a greater preference for art and jewelry assets than do their male counterparts, the new Altrata’s report on global ultra high net worth (UHNW) population shows. The UHNW are considered persons with net worth of more than $30 million each.
Women account for 70 of every 100 UHNW owners of luxury watches and jewelry. They are also significantly more likely to acquire high-end art, assuming an equal number of ultra affluent men and women.
UHNW men are significantly more likely to own jets and boats. UHNW men and women are equally likely to own a secondary house valued more than $5 million.
However, regardless of ownership, spouses and other family members are usually engaged in many of these purchases. This should flow into marketing efforts among sellers of such luxury products, according to the report’s conclusions.
Philanthropy is the most common interest among super-rich women
When it comes to interests and pastimes, philanthropy is by far the most popular among female ultra-wealthy persons. The sports, art, education, and the outdoors are well behind.
This is consistent with UHNW women’s significant emphasis on the non-profit and social organizations sector as their principal industry. This reflects not only a generally stronger and broader interest among women in societal issues such as welfare, inequality, children, and the environment, but also the well-established link between inherited wealth (which is far more common among ultra wealthy women than among ultra wealthy men) and higher levels of philanthropic activity.
Philanthropy is the second-most popular hobby among UHNW males, after only sports and ahead of the third-placed outdoors.
While the most frequent activities are pretty similar for both genders, there are considerable disparities among the top-ten rankings. Women like art, animals, and health, whereas highly wealthy men prefer technology and aircraft.
Education is the most popular sector for benevolent gifts among both categories, followed by arts and culture, social services, and healthcare and medical research. For a long time, these four areas have been the primary focus of ultra-wealth giving. However, given climate-related developments and rapidly shifting policies in many countries, the environment, conservation, and animals, which is currently the fifth-ranked category, will almost certainly attract an increasing share of donations in the years ahead.
Ultra wealthy women are more generous donors in politics than men
More over 10% of all super wealthy persons express an interest in politics, whether by running for office, participating in a candidate’s or party’s campaign, or in some other capacity.
During an election, wealthy individuals may give to a candidate’s or party’s campaign, depending on the nation and its political and legal institutions. In the United States, expenditure on presidential and legislative elections is massive, reaching to millions, if not billions, of dollars. This is often supported by private donors such as individuals, businesses, and organizations (via political action committees and others).
The survey discovers that very affluent men and women behave differently when it comes to political donations. When it comes to individual donations made in a personal capacity, super affluent US women make somewhat more political donations than ultra wealthy US men. In the year 2018-21, ultra wealthy female contributors donated $134,100 on average, compared to $125,000 for very wealthy male donors.
Ultrata discovered that, after excluding significant outlier gifts, very rich female contributors gave more frequently than their male counterparts, increasing their overall contributions.
It is worth noting, though, that some wealthy male contributors make substantial gifts on behalf of the firms they run. Still, donations from companies are not included in Altrata’s research.
