How the world’s 431 women become billionaires, spend and give away their fortunes.

As women increase their share of global wealth, they are also becoming a larger part of the billionaire class, with a new focus and philanthropy, according to a new report.

13% (or 431) of the world’s 3,323 billionaires are women Ultrata Billionaire Census. Although this may seem small, their number and share has been steadily increasing over the past 10 years.

According to the report, “increasing female entrepreneurship, slowly changing cultural attitudes, and the increasing frequency of substantial intergenerational wealth transfers” will continue to increase the feminism of the three-coma club.

Inheritance has been the most powerful driver. Of the 431 female billionaires today, three-quarters inherited a portion of their wealth, according to the report. Fully 38% inherited all of their wealth, including three of the world’s richest women, Alice Walton ($104 billion), Julia Flescher Koch and family ($76 billion) and Françoise Bettencourt Meyers ($73 billion), Ultrata said. are included. In contrast, only 5% of male billionaires inherited their fortunes.

A quarter of female billionaires are self-made, compared to 66% for men. That inheritance may be even more common. According to a report by Cerulli Associates, women are expected to inherit up to $30 trillion over the next decade as part of the Great Wealth Transfer.

Male and female billionaires also give and spend differently. For example, women pay more attention to non-profit and social organizations, according to the report.

About one in five female billionaires spend most of their professional time at nonprofits, compared to 5% of men. The prevalence of inheritance among women is the main reason for the charity’s focus, the report says, as they have “fewer commercial commitments” and “inheritance There is a strong correlation between wealth and prior engagement in philanthropy, well-being, and social justice.”

The financial portfolios of female billionaires are also slightly different. Because they often inherit private companies, they have more wealth in private holdings (35% vs. 28% for men) and more liquid assets and cash (39% vs. 30%). Billionaire men hold far more stocks, the report said, with men holding 40% of their wealth in stocks compared to 22% for women — largely due to tech-focused billionaires who have started public companies. why

Female billionaires are more likely to own luxury real estate and art. They are 1.5 times more likely, for example, to own property worth more than $10 million. Billionaire men, on the other hand, are more likely to enjoy their “toys” such as private jets, yachts, and expensive cars. Billionaire men are 3.8 times more likely than female billionaires to own a vehicle worth more than $1 million. And they are more than twice as likely to own a yacht.

The gender divide on hobbies is even greater. For female billionaires, philanthropy was the most cited hobby, at 71%. For men, sport was the top hobby, at 71%. More women also reported art, education and travel as hobbies, while men were more interested in aviation, the outdoors and politics.