Putting the Spotlight on America’s Richest Self-Made Women
America’s best female business visionaries have shattered glass ceilings and succeeded in scaling new heights, building organizations, and making fortunes in everything. From Estée Lauder, who launched her cosmetics company in the 1940s, to Ruth Fertel, who started Ruth’s Chris Steak House, women entrepreneurs have been able to withstand economic and business pressures to be the best. At present, there are approximately 13 million women-owned businesses in the US, and they are showcasing a growth rate of 5%. Along with being successful, those businesses employ nearly 9 million Americans and generate an estimated $1.9 trillion in revenue.
These independent starters are tapping web-based social networking to solidify their brands, and construct organizations. This has led to the country’s best ladies winding up more extravagant than any time in recent memory, with careers spanning across industries that range from entertainment to sports. These ladies serve as an inspiration to millions of self-made women out there who want to get into entrepreneurship, symbolizing how anything is possible with sheer hard work and dedication. Here are five powerful, wealthy self-made women who have built world-renowned brands through their hard work and strong drive.
1. Diane Hendricks: Roofing and building supply billionaire Diane Hendricks tops the list for the fifth year in a row, proving that age is no bar when it comes to being successful. The residential housing boom pumped up sales at ABC Supply, which she co-founded with her husband Ken in 1982, to $15 billion in 2021. Her fortune rose to an estimated $12.2 billion, up from $11 billion a year ago. She was also instrumental in leading ABC to make the two most significant acquisitions in its history, buying rival Bradco in 2010 and building materials distributor L&W Supply in 2016.
2. Judy Faulkner: Founder of Wisconsin-based electronic medical records firm Epic Systems, Judy’s revenue grew 13% in 2021 to $3.8 billion. She now owns 47% of the privately-held business and is worth $6.7 billion, $200 million more than last year. The company, which develops all its software in-house, supports over 250 million patients and is used by top medical centers such as Johns Hopkins and Mayo Clinic.
3. Sheila Johnson: A trailblazer in her own rights, Sheila continues to set the standard for Black women breaking barriers. Co-founder of Black Entertainment Television (BET), Sheila’s current net worth stands at $780 million. Besides creating the network that is centered around Black entertainment and culture, she also served as a liaison to the Middle East for the US Information Agency and helped to establish the National Music Conservatory of Jordan. She is now the CEO of Salamander Hotels and Resorts.
4. Oprah Winfrey: With a whopping net worth of $2.6 billion, Oprah is the richest Black woman in America. “The Oprah Winfrey Show”, one of the most successful television shows worldwide, reportedly drew in roughly 15 million people a day. She went on to become the first Black woman to own her own production company, OWN Network and continues to set an example for women across the globe.
5. Rihanna: From a young island girl from Barbados to a fashion icon, legendary musician, and groundbreaking entrepreneur, Rihanna has done it all and how! The 34-year-old’s net worth now stands at $1.4 billion as she continues to climb her way to the top. Her successful Fenty Beauty brand and the equally booming Savage x Fenty lingerie brand are raved worldwide. Both of her brands have laid the groundwork for inclusivity in spaces.
It is indeed a good sign that despite an ever-persistent wage gap, women-owned businesses are on the rise. With self-made women making strides in breaking glass ceilings and taking on more entrepreneurial roles, it will lead to making the world a better place for everyone.
A print and digital magazine for businesswomen focusing on leadership, business, and entrepreneurship that made its debut in 2017 has WomELLE Magazine.
