Women now control more than half of US personal wealth, which ‘will only increase in years to come’

Yahoo CEO Marissa Meyer. Photo from businessinsider.com

Yahoo CEO Marissa Mayer. Photo from businessinsider.com

Women have overtaken men and now control more than half of all U.S. wealth and will likely take an even bigger piece of the pie in coming years, a new study has revealed.

About 51 percent, or $14 trillion, of American personal wealth is now controlled by women, according to the Bank of Montreal’s Wealth Institute. The Canadian bank also expects them to control about $22 trillion by 2020.

“Women have made incredible strides in the past fifty years and the wealth and power they hold will only increase in years to come,” Mary Jo Herseth, National Head of Banking, BMO Private Bank, said in a release touting the study.

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WILAB LOVES is a series of articles and blog posts from across the web that Women’s iLab supports. This article was written by Ryan Gorman and published on BusinessInsider.com on April 7th, 2015.