The Rise of Female Philanthropists - And Three Big Bets They Make https://www.forbes.com/sites/bonniechiu/2018/07/25/the-rise-of-female-philanthropists-and-three-big-bets-they-make/#4e36ec805f89

1. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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6,653 views | Jul 25, 2018, 08:54am
The Rise of Female Philanthropists
- And Three Big Bets They Make
I write about gender and diversity in the emerging world.
Bonnie Chiu Contributor i
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At the Forbes Philanthropy Forum organized in May earlier this year, there was
near parity between female and male participants. Though there were still more
male philanthropists than female ones, the face of wealth is changing. The
Economist’s title on International Women’s Day states boldly that, “Investment
by women, and in them, is growing”. As reported in the Economist article,
between 2010 and 2015 private wealth held by women grew from $34trn to
$51trn— an increase of 50% in merely five years. Moreover, most of the private
wealth that will change hands in the coming decades is likely to go to women.
 philanthropy ought to move from an ego-system to an ecosystem
 investing in women and girls yields one of the best social returns

2. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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On the Forbes’ 2018 list of billionaires, women billionaires numbered at 256 out
of total 2208 entries— an all-time high, with a collective worth to surpass $1
trillion. Yet, we should not gloss over the fact that wealth is still predominantly
controlled by men, and that there are harsh realities around female investing.
According to Crunchbase, only 8% of partners among top 100 venture firms were
female, and 90% of venture dollars globally between 2012 and 2017 went to all-
male teams.
One of the most famous female philanthropists and co-chair of the Bill and Melinda Gates Foundation,
Melinda Gates, gives a speech on June 3, 2015 at European Development Days (eudevdays) event. (JOHN
THYS/AFP/Getty Images)

3. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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Nonetheless, when women control more wealth, the face of philanthropy will also
change. Some empirical studies suggest that women are more likely than men to
engage in prosocial behaviour, defined as voluntary behaviour intended to benefit
others — and this includes acts of helping and donating. Forbes statistics show
that women give almost twice as much of their wealth away as men (3.5% vs.
1.8%).
With the rise of female philanthropists, not only will there be more philanthropic
dollars to spend, trends thus far show that they will be making three big bets.
First, that philanthropy ought to move from an ego-system to an
ecosystem . We learn from management literature that women tend to be
more cooperative in work teams, and the same seems to apply in philanthropy.
Giving circles are a way of collaborative giving, and the first ones were created by
Entrepreneur and philanthropist Dame Stephanie Shirley has done pioneering work in philanthropy in the UK.
(JOHN STILLWELL/AFP/Getty Images)


4. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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women for women. The Women’s Collective Giving Network now has 47 giving
circles, with more than 10,000 women philanthropists in the mix.
MORE FROM FORBES
Collaborative giving does not only mean giving together with other like-minded
philanthropists - more importantly, it means co-creating solutions with the users
and beneficiaries. Last year, the Gates Foundation committed $20 million to
strengthen women’s groups worldwide, and Melinda Gates said, “They know their
community. They know what needs to get done.” As female philanthropists gain
in influence, the collaborative spirit will amplify the impact created by
philanthropy.
Second, that investing in women and girls yields one of the best social
returns . There are no official statistics as to the percentage of female
philanthropists that give to the cause of women and girls, but anecdotal evidence
suggests that they are more likely to sympathise with the gender cause. According
to AidData as reported by UBS, funding received by causes related to SDG 5, on
gender equality, received only 2.6% of donations between 2000-2013.
Recognising that the cause of women and girls is underfunded, the 2007 creation
of the Women Moving Millions initiative was seminal. Since 2007, Women
Moving Millions has inspired over 290 members to pledge over $600 million to
organisations and initiatives that commit to advancing women and girls around
the world.
The latest TIME’S UP Legal Defense Fund was set up by a group of female
philanthropists to address sexual assault, harassment and inequality in the
workplace faced by women. Since launching in January 2018, it has raised close
to $22 million online – another powerful example of women investing in women.


5. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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The Association for Women’s Rights in Development (AWID) also found that in
2014, there are more new players committed to supporting women and girls.
They are shifting from ‘aid to investment’ and prioritising business solutions to
social and development problems, in line with the Gender Equality as Smart
Economics promoted by the World Bank. This finding links with the third big bet
that female philanthropists are making.
Third, that philanthropy is not separate from investments, and impact
investing can enable philanthropists to amplify their impact . In a
recent survey by Morgan Stanley, 84% of women said they were interested in
“sustainable” investing, defined here as targeting not just financial returns but
social or environmental goals. The figure for men was 67%. Pactor, associate
director of Women’s Philanthropy Institute, suggested in an interview to Inside
Philanthropy that she sees women as having an edge when it comes to
reinventing philanthropy with financial tools like impact investing.
NEW YORK, NY - MAY 10: Times Up Legal Defence Fund, Tina Tchen speaks onstage during the New York
Women's Foundation's 2018 'Celebrating Women' breakfast on May 10, 2018 in New York City. (Photo by Monica
Schipper/Getty Images for The New York Women's Foundation )


6. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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I am a Forbes 30 Under 30 social entrepreneur, a gender equality advocate and
a social impact consultant. I am the Founder and CEO of Lensational,
At the upcoming NEXUS Global conference in New York starting tomorrow, next
generation philanthropists – majority of whom are female – will be deep diving
into impact investing.
Let’s use this time to come together, to galvanise the power of women and
philanthropy to create the greatest impact for girls and women around the world.
The next decade will be a defining one for female philanthropists, and they will
challenge the conventions.
Bonnie Chiu is the Managing Director of The Social Investment Consultancy,
dedicated to improving diversity and inclusion within impact investing and
philanthropy. Reach out at bonnie@tsiconsultancy.com if you are interested to
discuss this topic further.
NEW YORK, USA - JUNE 19: Lisa Woll, (L) Chief Executive Of cer, US SIF: The Forum for Sustainable &
Responsible Investment, recipient of Impact Award Presentation stands with presenter Sharon French, (R)
Executive Vice President & Head of Beta Solutions, OppenheimerFunds during Forbes Women's Summit 2018
in New York, United States on June 19, 2018. (Photo by Mohammed Elshamy/Anadolu Agency/Getty Images)


7. 8/30/2018 The Rise of Female Philanthropists - And Three Big Bets They Make
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