Women’s financial power has been on a remarkable rise across the globe, and as we celebrate Women’s Month, it is essential to highlight the incredible strides women have made in the financial world. From breaking barriers in business and investing to leading multinational corporations, women are not just earning more but also shaping economic policies, creating wealth, and inspiring future generations.
The Evolution of Women’s Financial Independence
Historically, women were often excluded from financial decision-making, with societal norms limiting their access to wealth and economic opportunities. However, over the years, through resilience, advocacy, and education, women have steadily gained financial independence.
Legislative changes, such as the Equal Credit Opportunity Act of 1974 in the U.S., allowed women to obtain credit without a male co-signer. Since then, women have increasingly taken charge of their finances, leading businesses, investing in markets, and changing the financial landscape.
Women Making Financial Strides
- Women in Business and Entrepreneurship
Entrepreneurship has become a significant avenue for women to build financial power. According to studies, women-owned businesses are growing at an unprecedented rate, with female entrepreneurs contributing significantly to global GDP.
• Sara Blakely, the founder of Spanx, started her company with just $5,000 in savings and grew it into a billion-dollar empire. She became the world’s youngest self-made female billionaire and continues to empower women through philanthropy and mentorship.
• Oprah Winfrey, a media mogul, leveraged her brand to create a multi-billion-dollar empire, proving that strategic investments and branding can create generational wealth.
• Rihanna, a global music icon, used her platform to launch Fenty Beauty, a cosmetics brand that has revolutionized the beauty industry. Through her business ventures, she became the youngest self-made female billionaire in the U.S.
• Whitney Wolfe Herd – Founder of Bumble, she became the youngest female CEO to take a company public. Her innovative approach to online dating and business leadership has made her a billionaire.
• Estee Lauder – Founder of the Estee Lauder Companies, she built one of the world’s most successful beauty brands from the ground up, revolutionizing the cosmetics industry.
- Women in Corporate Leadership
The corporate world, once dominated by men, is now seeing an increasing number of women in leadership roles, making crucial financial decisions for multinational corporations.
• Mary Barra, CEO of General Motors, is one of the most influential women in business, leading a Fortune 500 company and spearheading innovations in the automotive industry.
• Jane Fraser, CEO of Citigroup, became the first woman to lead a major Wall Street bank, a historic moment in finance.
• Ginni Rometty – Former CEO of IBM, she led the company through a major transformation, focusing on artificial intelligence and cloud computing.
• Rosalind Brewer – CEO of Walgreens Boots Alliance and one of the few Black women leading a Fortune 500 company, making a significant impact on corporate diversity and leadership.
- Women and Investment Power
Women are not only earning but also investing wisely to grow their wealth. Studies show that women tend to be more long-term and risk-conscious investors, leading to sustainable financial growth.
• Abigail Johnson, CEO of Fidelity Investments, oversees one of the largest financial firms in the world, managing trillions in assets and shaping global investment strategies.
• Mellody Hobson, co-CEO of Ariel Investments, is an advocate for financial literacy and has been a game-changer in investment management.
• Lubna Olayan – A powerful businesswoman from the Middle East, she has led Olayan Group’s investment strategies and been a pioneer for women in finance in the region.
• Anne Wojcicki – Co-founder of 23andMe, she used venture capital and strategic investments to disrupt the healthcare and biotech industries.
- Women Advocating for Financial Literacy
Many women are using their influence to promote financial education and empowerment.
• Suze Orman, a financial advisor and author, has spent decades educating women on financial independence, savings, and investment strategies.
• Bola Sokunbi, founder of Clever Girl Finance, has created platforms that provide women with the tools and resources to build wealth and secure their financial futures.
• Tiffany Aliche (The Budgetnista) – A financial educator and author, she has helped millions of women with budgeting, saving, and financial planning.
• Farnoosh Torabi – A financial journalist and host of the “So Money” podcast, she educates women on wealth-building strategies.
Empowering the Next Generation
The progress women have made in financial power is inspiring, but there is still work to be done. Women continue to face challenges such as the gender pay gap, underrepresentation in top financial positions, and limited access to capital for female entrepreneurs.
These women have all made significant contributions to finance, business, and economic empowerment. Hopefully, they inspire even more young women to take charge of their financial futures!
To inspire the younger generation, here are key takeaways for women aiming to build financial power:
1. Invest in Financial Education – Understanding money management, investing, and wealth creation is essential for financial success.
2. Build Multiple Income Streams – Whether through entrepreneurship, investments, or side hustles, diversifying income sources creates financial security.
3. Network and Seek Mentorship – Learning from financially successful women can provide guidance and opportunities for growth.
4. Be Bold in Career and Business Pursuits – Women should pursue leadership roles, negotiate salaries, and take calculated risks in business.
In summary, women’s financial power is no longer just a dream—it is a reality shaping economies, industries, and societies. From entrepreneurs to corporate leaders and financial educators, women are rewriting the narrative of wealth creation. As we celebrate Women’s Month, let us continue to support, mentor, and uplift more women into financial independence, ensuring that the next generation is even more empowered.
The future of women in finance is bright, and the time to take action is now!
Areas of Under-Representation
Women have made incredible strides in leadership across many industries, but there are still sectors where female leadership is significantly underrepresented or nearly absent. Some of these include:
- Military & Defense Leadership
While women serve in the military and hold high-ranking positions in some countries, very few have reached the topmost levels of military command, such as Chief of Defense or equivalent roles. Defense contractors and arms manufacturing companies also have very few female CEOs.
- Oil & Gas Industry
The energy sector, especially oil and gas, remains heavily male-dominated. While some women hold executive roles, very few are leading major oil companies like ExxonMobil, Saudi Aramco, or Shell. The industry still struggles with gender diversity at the highest levels.
- Space Exploration & Aerospace Engineering
Although women have contributed significantly to space exploration (e.g., NASA astronauts and scientists), top leadership roles in space agencies like NASA, Roscosmos, and SpaceX are still primarily held by men. There has yet to be a female CEO of a major private space exploration company.
- Construction & Heavy Engineering
Construction is another field where women are vastly underrepresented in leadership. While there are female architects and engineers, the top executives of major global construction firms are almost entirely male.
- Artificial Intelligence & Big Tech Leadership
Although women are making progress in AI and tech, leadership in AI research, data science, and major tech firms is still predominantly male. Companies like Google, Meta, and Amazon have few female CEOs or CTOs.
- Professional Sports (Team Ownership & League Presidents)
Women have gained roles in coaching and sports management, including notable team ownerships. See below for a list of notable major leagues (NFL, NBA, FIFA, etc.) with female owners, commissioners, or president.
- Automotive & Heavy Machinery
Although Mary Barra at General Motors is a notable exception, women remain underrepresented in leadership roles within automotive and heavy machinery industries. Companies like Ford, Toyota, and Caterpillar have yet to see a female CEO.
- Religious Leadership in Certain Faiths
Some religious institutions and denominations still do not allow women to hold top leadership positions, such as Pope, Imam, or chief rabbis in Orthodox Judaism.
While progress is being made, these industries still have significant gender gaps at the top. The good news? More women are entering these fields, and change is slowly happening!
Notable Professional Sports (Team Ownership & League Presidents)
- Team Ownership
• Jeanie Buss: As the controlling owner and president of the Los Angeles Lakers, Buss has been instrumental in guiding the team to multiple NBA championships.
• Kim Pegula: Co-owner and president of both the Buffalo Bills (NFL) and the Buffalo Sabres (NHL), Pegula became the first female president of both an NFL and NHL team.
• Serena Williams: The tennis legend has expanded her influence into team ownership by investing in the National Women’s Soccer League (NWSL), becoming a part-owner of the Los Angeles-based team, Angel City FC. - League Leadership
• Cathy Engelbert: Appointed as the first-ever commissioner of the Women’s National Basketball Association (WNBA) in 2019, Engelbert’s leadership marked a significant milestone in professional sports.
• Jessica Berman: Serving as the commissioner of the National Women’s Soccer League (NWSL) since 2022, Berman brought extensive experience from her previous roles in the National Hockey League (NHL) and National Lacrosse League (NLL). - Executive Roles
• Michele Roberts: As the former executive director of the National Basketball Players Association (NBPA), Roberts was the first woman to head a major professional sports union in North America.
• Kim Ng: In 2020, Ng became the first female general manager in Major League Baseball (MLB) history when she was hired by the Miami Marlins.
These examples highlight the progress women have made in professional sports leadership and ownership. While challenges remain, the increasing presence of women in these roles is inspiring and indicative of a positive trend toward greater gender diversity in sports.
Do you know any woman in the areas listed? Please add in the Comments section. Thank you.
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