Taylor Swift, the pop icon whose wildly successful Eras concert tour catapulted her net worth to stratospheric heights last year, isn’t the only new billionaire to take a spot among the wealthiest women in the US.
Forbes has released its 10th Annual List of America's Richest Self-Made Women, highlighting the top 100 women leaders who made their own fortunes.
The 2024 list saw an increase in billionaires with 31 making the ranking this year, up from 24 last year. Notable names include Taylor Swift, Rihanna, Kim Kardashian, Oprah Winfrey, and former PepsiCo CEO Indra Nooyi.
Leading the pack is Diane Hendricks, chairman of building materials firm ABC Supply, who secured the number one overall position for the seventh consecutive year with a net worth of $20.9 billion, up from $15 billion last year.
Falling just short of entering the billionaires’ circle, Anne Dinning has a net worth of $940 million and helps lead quantitative hedge fund firm D.E. Shaw. Nancy Zimmerman, another leader in the hedge fund space, has a net worth of $780 million and is a cofounder and managing partner at Bracebridge Capital.
The top 100 list also saw 11 new members in 2024, including Fawn Weaver, founder of Uncle Nearest whiskey; Merrilee Kick, founder of BuzzBallz cocktails; singer Katy Perry; and Mary Callahan Erdoes, CEO of JPMorgan Chase's asset and wealth management division.
A seasoned veteran of the financial industry, Erdoes has been with JPMorgan Chase for over 25 years. She ascended the ranks at the banking giant’s asset and wealth arm to ultimately become its chief executive in 2009.
Collectively, the 100 women on the list have a net worth of $154 billion, reflecting a nearly 25 percent increase from last year. Competition to get into the list has also gotten fiercer, cutoff for inclusion rose to $300 million from $225 million last year.
This year, members from emerging technology sectors, particularly artificial intelligence, were prominently highlighted.
“This year’s list continues to move the needle on what it means to be a successful woman – we’re seeing women break barriers at a range of ages and in their own way,” Kerry A. Dolan, assistant managing editor of wealth at Forbes, said in a statement.
Mercer, Focus Partners Wealth, Mariner, Creative Planning and Captrust top the leaderboard tracking AI search results for RIA firms.
"We believe this model will help younger investors – and any investors who value a hybrid advice experience,” said Ryan Robson, principal at Edward Jones.
Conte Wealth Advisors reportedly has $1.4 billion in client assets and 20 advisors.
The Cleveland-based RIA's latest tie-up extends the firm's national footprint into the Golden State, where opinions continue to be split over a contentious billionaire wealth tax proposal.
Meanwhile, Cetera has welcomed a family-run practice from Commonwealth, and a Merrill advisor joins an existing UBS team in Connecticut.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
