Forbes: Women richer than men? - GoFuckYourself.com

Rictor · 10-03-2003, 05:03 PM

NEW GIRLS' CLUB

By BETH KWON

September 28, 2003 -- For the first time, women on Forbes' list of the 400 Richest People in America topped men in average net worth, with $2.8 billion vs. $2.4 billion for men.
And while previous lists have included more women than this year's 50, the current ranking features more self-made female moguls than ever.

These days, eBay's Meg Whitman and "Friends" producer Marcy Carsey are pushing aside the usual cast of corporate heiresses - the Waltons, Annenbergs, Cargills and Krocs - who have populated the list since its inception in 1982.

"An increasing number of women on the list are self-made," said Pete Newcomb, senior editor at Forbes who has worked on the Forbes 400 since the days of the Duponts, Rockefellers and Mellons.

Women's wealth isn't limited to corporate superstars either.

Merrill Lynch, which commissioned a survey of rich females (women with more than $3 million in their coffers), found that 43 percent of Americans with more than $500,000 in investable wealth are female.

Charlotte Beyer, CEO and founder of the Institute for Private Investors, said one-third of her members (who average $50 million and up in assets) are women, versus a handful in 1991, when she started the company.

"Women in the work force are moving up the ladder," says Lisa Caputo, head of Women & Company, a Citigroup unit that offers financial services.

Other banks are starting to take women's assets seriously, too.

Beyer worked for a bank she prefers not to name in the 1970s, where the executive dining room didn't even have a ladies' room. "I was eight-and-a-half months pregnant, and the waitress had to guard the door while I went to the bathroom," she said.

A surge in startups, unhampered by old-boys' networks, has contributed to women's rise in the ranks, as well as success as entrepreneurs.

"There are a lot of women in the dot-com companies, the eBays of the world," says Josephine Linden, head of the New York office of Private Wealth Management for Goldman Sachs. "Clearly, they're companies that don't have the traditional corporate structure of larger industrial companies."

Going off on their own also has been a boon to the likes of Oprah Winfrey and Martha Stewart.

"Women-owned businesses are growing at a rate of 11 percent - not quite double the growth of all businesses," says Sharon Hadary, executive director of the Center for Women's Business Research.

Forty-six percent of all businesses are women-owned, and employment at women-owned businesses is growing at 18 percent compared to eight percent for all companies.

Despite all the corporate success stories for women, there's another way to get quick rich.

"The two new sources of wealth are entrepreneurial and corporate, but if you're looking for the strongest growth numbers it's probably through divorce," says Rob Elliott, Senior Managing Director at Bessemer Trust.

freeadultcontent · 10-03-2003, 05:10 PM

Quote:

Originally posted by Rictor
NEW GIRLS' CLUB

"The two new sources of wealth are entrepreneurial and corporate, but if you're looking for the strongest growth numbers it's probably through divorce," says Rob Elliott, Senior Managing Director at Bessemer Trust.

Rictor · 10-03-2003, 05:13 PM

My second wife is gonna be loaded.

detoxed · 10-03-2003, 05:19 PM

Wanna know why? Because the rich guys get married 2-3 times and have to give away half their cash each time. So for every extremely rich guy there are 2-3 women with his money.

10-03-2003, 05:03 PM	#1
Rictor Old Timer Industry Role: Join Date: Jan 2001 Location: Indianapolis Posts: 12,208	Forbes: Women richer than men? NEW GIRLS' CLUB By BETH KWON September 28, 2003 -- For the first time, women on Forbes' list of the 400 Richest People in America topped men in average net worth, with $2.8 billion vs. $2.4 billion for men. And while previous lists have included more women than this year's 50, the current ranking features more self-made female moguls than ever. These days, eBay's Meg Whitman and "Friends" producer Marcy Carsey are pushing aside the usual cast of corporate heiresses - the Waltons, Annenbergs, Cargills and Krocs - who have populated the list since its inception in 1982. "An increasing number of women on the list are self-made," said Pete Newcomb, senior editor at Forbes who has worked on the Forbes 400 since the days of the Duponts, Rockefellers and Mellons. Women's wealth isn't limited to corporate superstars either. Merrill Lynch, which commissioned a survey of rich females (women with more than $3 million in their coffers), found that 43 percent of Americans with more than $500,000 in investable wealth are female. Charlotte Beyer, CEO and founder of the Institute for Private Investors, said one-third of her members (who average $50 million and up in assets) are women, versus a handful in 1991, when she started the company. "Women in the work force are moving up the ladder," says Lisa Caputo, head of Women & Company, a Citigroup unit that offers financial services. Other banks are starting to take women's assets seriously, too. Beyer worked for a bank she prefers not to name in the 1970s, where the executive dining room didn't even have a ladies' room. "I was eight-and-a-half months pregnant, and the waitress had to guard the door while I went to the bathroom," she said. A surge in startups, unhampered by old-boys' networks, has contributed to women's rise in the ranks, as well as success as entrepreneurs. "There are a lot of women in the dot-com companies, the eBays of the world," says Josephine Linden, head of the New York office of Private Wealth Management for Goldman Sachs. "Clearly, they're companies that don't have the traditional corporate structure of larger industrial companies." Going off on their own also has been a boon to the likes of Oprah Winfrey and Martha Stewart. "Women-owned businesses are growing at a rate of 11 percent - not quite double the growth of all businesses," says Sharon Hadary, executive director of the Center for Women's Business Research. Forty-six percent of all businesses are women-owned, and employment at women-owned businesses is growing at 18 percent compared to eight percent for all companies. Despite all the corporate success stories for women, there's another way to get quick rich. "The two new sources of wealth are entrepreneurial and corporate, but if you're looking for the strongest growth numbers it's probably through divorce," says Rob Elliott, Senior Managing Director at Bessemer Trust.

10-03-2003, 05:13 PM	#3
Rictor Old Timer Industry Role: Join Date: Jan 2001 Location: Indianapolis Posts: 12,208	My second wife is gonna be loaded.

10-03-2003, 05:19 PM	#4
detoxed vip member Join Date: Jan 2003 Posts: 17,798	Wanna know why? Because the rich guys get married 2-3 times and have to give away half their cash each time. So for every extremely rich guy there are 2-3 women with his money.