a blog post by Angela Remington
As of 2013, women accounted for 13% of Forbes’ 400 List, a list of America’s wealthiest people, a 1% increase from 2012.Some self-made, such as Oprah Winfrey and Meg Whitman, others who inherited their wealth, like Christy Walton, the richest woman in the United States, or Laurene Powell Jobs, the richest woman in Silicon Valley. What makes this exciting is not just the fact that women are slowly, but surely, making their way onto this exclusive list, it’s what women choose to do with their philanthropic dollars that can have an incredible impact.
“How is this possible?” you ask. Well, it’s possible because many women see the importance of investing in other women. As noted by moderator Denise Restauri at the Forbes 400 Summit on Philanthropy last year, men and women have very different spending patterns. Women dedicate 90% of their income on their families investing in education, health, and the communities in which they live, while their male counterparts dedicated just 30-40% to these areas. And women do this while earning only 10% of the worlds income and owning a mere 1% of the world’s property! Clearly, women have a very different idea of a good investment. Imagine if women controlled more wealth and property. Might our education system be better? Or possibly might clean drinkable water be available to all areas of the world?
Women control a disproportionate amount of discretionary spending across the world, but are projected to control 75% of it by 2028! Given the facts at hand, it seems only natural that we begin to focus our philanthropic dollars on those who will have the greatest potential impact on solving the world’s most difficult problems: women.
Madera Group is especially excited about the focus on women and girls as we have worked with many philanthropists helping them to design action campaigns in order to have the greatest impact.