In 2024, there are more self-made female billionaires than ever before. In just this past year, 15 women have joined the ranks, a record breaking number. In a period where gender equality is gradually becoming more prioritized, women are stepping into traditionally male-dominated fields and taking on jobs as CEOs, entrepreneurs, executives, inventors and more. Although women make up only 13 percent of billionaires, that percentage is still a major increase compared to where it stood before the 2000s–at zero.
Since Martha Stewart earned the title of America’s first female billionaire, many more women have earned the title. The amount of lady billionaires has skyrocketed in recent years–the total number has nearly tripled since 2010, from 89 to 369, the highest number in history. Additionally, the amount of highly wealthy women who are self-made has increased sixfold in the past decade. In the U.S. alone, women are expected to control $34
Financial empowerment for women paves the way for gender equality and freedom. Historically, women have faced larger barriers than men when it comes to amassing money.
Many hold the belief that women don’t have the inherent drive for monumental success that some men have, rather than acknowledging that women are often not given equal opportunities to men.
Recently, however, traditional barriers are being broken down as greater numbers of women rise to billionaire status. Although women continue to face struggles and gender-based discrimination in the business world, such as the gender pay gap, the increased number of affluent women is a beacon of hope for a future with financial equality between both genders.
Mr. Harrison Ray, a DECA sponsor and Entrepreneurship teacher, believed that an increase in wealthy women is an indicator of society’s gradual acceptance of women as leaders and decision-makers. “It is a significant milestone for women’s empowerment. It challenges outdated stereotypes about gender and wealth and provides young women with visible role models who have achieved success on their terms,” he said, highlighting that success and ambition are not strictly male traits.
Mr. Ray also touched on how the goodwill of wealthy women progresses equality. “Affluent women often reinvest their wealth into communities, philanthropy, and causes that promote equality, creating a ripple effect of empowerment and opportunity for others.” Women, regardless of income, are statistically more likely to donate, and donate more, to charity than their male counterparts.
Examples of self made female leaders and innovators include celebrities like Taylor Swift, Rihanna, Kim Kardashian and Selena Gomez. Swift’s worldwide “Eras Tour” generated 2 billion dollars in ticket sales, smashing the record for the most revenue–and earthquakes–ever produced by a concert tour.
Many celebrity women have ventured into the world of entrepreneurship and founded cosmetic companies–popular makeup brands like Rare Beauty and Fenty Beauty have garnered hundreds of millions. Celebrities have used this success to set up funds and charities for various issues, such as the climate, education and youth mental health. Kim Kardashian, a socialite and media personality, expanded her empire with shapewear company Skims, which focuses on inclusive clothing for all body types.
Less widely known but equally impactful and powerful women who have accumulated self made fortunes include businesswoman Judy Faulkner, who built a medical software company and 7.2 billion dollar net worth from the ground up, and businesswoman Wu Yajun, the former CEO of Longfor Properties, who at one point was the world’s richest self made woman.
More self made female billionaires include Alice Swartz, who began Bio-Rad laboratories with her husband when they had just 752 dollars in their bank account, and Denise Coates, the majority shareholder of online gambling platform Bet365.
Times are gradually changing as women rise to the top one percent of global earners. Despite gender-based setbacks and stereotypes, women are proving their ability to succeed at the highest levels. The increase in female prosperity demonstrates a shift in societal norms and typical gender roles, marking 2024 as a breakthrough year for self made women billionaires and women everywhere. The amount of successful, wealthy women is at an all time high and it shows no signs of stopping.
