Male baby boomers are in decline – and women are about to get very rich ...Middle East

As for Bezos? Well, the man who allegedly makes millions every hour has said that he wants to give away most of his money but has yet to come within touching distance of his ex-wife. His splashiest foundation – the slightly sinisterly named Bezos Earth Fund – is committed to giving away $10bn to climate causes. So far, according to its website, it’s only granted $2.3bn since its launch five years ago. These days, Bezos seems to be more preoccupied with planning his Venetian wedding to American journalist and pilot Lauren Sanchez.

Many have focused on how much this will benefit millennials and Gen Z, albeit unevenly so – obviously, this all depends on how much money your parents or grandparents were able to squirrel away in the boom times before lattes cost £4.50. But financial analysts are now focusing on the fact that women also stand to gain enormously from this wealth redistribution. According to financial services company Hargreaves Lansdown, women are likely to be the biggest beneficiaries of the money coming down from the baby boomers. In fact, an estimated 70 per cent of global wealth is to pass into the hands of women over the next two generations.

How will they spend that sudden cash infusion? Well, they might donate quite a lot of it. The Stanford Social Innovation Review cites research showing that women are more philanthropically-inclined than men. They are also involved with our communities and more likely to donate to racial justice causes and ones that support women and girls.

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Millennials are about to get very rich – or so we all thought

Take 95-year-old Ruth Gottesman, for instance. In 2024 she donated a staggering $1bn to the Albert Einstein College of Medicine, a Bronx medical school in the poorest borough in New York, after inheriting it from her late husband and former Warren Buffet investing partner David. That money has now been earmarked to pay the tuition fees of all students in perpetuity, in a country where medical school fees can reach $200,000. “Transformational” doesn’t begin to cut it.

Zing Tsjeng is a journalist, non-fiction author, and podcaster

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