Podcast Summary: Bloomberg Businessweek

Episode: Why Women's Wealth Is Poised to Surge
Date: October 15, 2025
Hosts: Carol Massar and Tim Stenovec
Guest: Jamie Madera (Head of US Wealth Advisory & Retirement, BlackRock)

Episode Overview

This episode explores the rapidly changing dynamics of wealth ownership and management, specifically focusing on the increasing influence and control women hold over global wealth. Through analysis and expert insight from Jamie Madera of BlackRock, the discussion delves into the scale and implications of intergenerational and "horizontal" (spousal/divorce) wealth transfers, shifts in investment preferences, opportunities and challenges for the financial industry, and the broader societal impact of women's rising financial power.

Key Discussion Points & Insights

1. The Scale of Women's Growing Wealth

• Overview of the Wealth Transfer:

  • Wall Street has been anticipating a $105 trillion intergenerational transfer from elderly parents to children.
  • The discussion notes a "different kind of wealth transfer"—notably, women among the world's richest 500 have often become billionaires after a spouse’s death, making this dynamic significant and historically large ([01:24]).

• Demographics and Logic:

  • The fact that women outlive men, combined with changing patterns in marital wealth distribution (including divorce), is driving this shift ([01:43]).

Quote:
"More than a dozen women in the world’s 500 richest people have become billionaires after the death of a spouse... It’s the highest number ever."
— Carol Massar ([01:24])

2. "Feminization of Wealth" and How Money Moves

• Major Forces at Play:

  • Increasingly, women are the primary breadwinners and decision makers in families. They're acquiring wealth not only from parents but also through “horizontal” transfers (e.g., death/divorce of a spouse) ([04:01]).
  • There’s industry acknowledgment that women have not been adequately served by traditional wealth management models.

• Statistical Highlights:

  • "Cerulli estimates that globally, $124 trillion will change hands in this silver tsunami...their forecasts are that $54 trillion will be passed to spouses first before it goes down another generation. 40% of those spousal transfers will be to women." ([04:56])
  • Prediction: Women will control 50% of the world's wealth by 2030, and 70% by 20XX. Currently, women control 30% ([05:41]).

• Behavioral Changes:

  • "70% of women leave their husband's financial advisor after a divorce or death within one year." ([06:20])
  • Reasons: Feeling unheard and uninvolved in prior financial decisions.

3. Investment Styles and Stereotypes

• Risk Tolerance:
  • Women are not a monolith; BlackRock’s survey of 2,500 female investors showed most are "moderate to aggressive" investors, aiming to grow wealth through capital markets, not just earn/save ([06:53]).

Quote:
"Majority of them were actually moderate to aggressive, because they saw the power of not just gaining wealth through working or through transition, but actually gaining wealth through the capital markets."
— Jamie Madera ([06:56])

• Misconceptions:
  • The show dispels the stereotype that women are universally risk-averse.
  • A third of US households have women as the primary financial decision makers ([06:42]).

4. Women & Purpose-Driven Investing

• Purpose vs. Impact:
  • Women (and younger investors) are more likely to align investments with values and social purpose, such as through impact investing, direct indexing, or philanthropy ([08:27]).
  • The line between philanthropic goals and financial planning is increasingly blurred, with holistic strategies being sought ([09:11]).

Quote:
"People are looking to put their money to good cause...that might be aligning with the values I have, sending my children to school, helping my elderly parents, or starting a new business. How about that for purpose?"
— Jamie Madera ([09:11])

5. Industry Implications & Market Environment

• Advisor Opportunity:

  • Advisors must adapt to serve women better and offer solutions that can attract—and retain—this demographic, given that many women change advisors after major transitions ([05:41]).

• Market Conditions & Sentiment:

  • Investors (women included) remain engaged with markets, despite short-term volatility and uncertainty.
  • "It’s not time in the market or timing the markets, it’s time in the markets." ([10:15])
  • BlackRock has seen rising flows into diverse portfolios over recent months ([11:10]).

Notable Quotes & Memorable Moments

• On Wealth Transfer:
  "When wealth is passing to them either through their parents and family or through their spouses, they want to do it differently. They want to be served differently."
  — Jamie Madera ([05:41])

• On Women & Advisors:
  "70% of women leave their husband's financial advisor after a divorce or a death within one year."
  — Jamie Madera ([06:20])

• On Investment Approach:
  "Majority of [the women surveyed] were actually moderate to aggressive, because they saw the power of...gaining wealth through the capital markets."
  — Jamie Madera ([06:56])

• On Investing with Purpose:
  "I like to use the word purpose because actually impact has many different meanings...You could invest in a way that maybe aligns with your values."
  — Jamie Madera ([08:28])

• On Market Uncertainties:
  "There is volatility...Everyday people need professional advice. They need someone they can trust that will help them navigate that."
  — Jamie Madera ([10:15])

Timestamps for Major Segments

• 01:24 — Overview: Wealth transfer and rising number of female billionaires
• 04:01 — Breadwinning women and horizontal wealth transfers
• 04:56 — Trillion-dollar "silver tsunami" of wealth transfer to women
• 05:41 — Women’s changing attitudes toward wealth managers
• 06:53 — Women’s investment preferences and risk tolerance
• 08:27 — Purpose-driven and values-aligned investing
• 09:11 — Blending philanthropic and financial goals
• 10:15 — Current market concerns, volatility, and need for advice
• 11:10 — Ongoing flows into diversified portfolios

Conclusion

The episode underscores a "seismic shift" in global financial power as women increasingly acquire and control wealth. This transformation is set to redefine not only financial markets but also philanthropy, investing norms, and the financial advisory industry. Advisors and institutions failing to adapt risk losing relevance, as women demand new approaches, respect, and holistic planning.

Main Takeaway:
Women’s wealth is surging—not just in amount, but in influence. The era of the “feminization of wealth” is here, and it’s set to reshape financial advice, investment strategies, and societal outcomes for decades to come.