America’s richest self-made women list welcomes 15 newcomers

Summary

• America’s richest women were given a boost by a booming stock market as well as an influx of IPOs which lifted the combined wealth to US$118 billion – a jump of 18%.
• ABC Supply co-founder Diane Hendricks tops the list of Forbes’ wealthiest self-made American women. Judy Faulkner, Meg Whitman, Judy Love, and Marian Ilitch round off the top five. 
• Singer Rihanna recently joined the billionaire club with an estimated fortune of US$1.7 billion.
• The youngest on the list, at just 23 years, is Kylie Jenner, who was made famous by the reality TV show, Keeping Up With The Kardashians.

American women have continued to make tremendous accomplishments in finance and business this year, shattering stereotypes, and breaking glass ceilings.

America’s richest women were given a boost by a booming stock market as well as an influx of IPOs which lifted the combined wealth to US$118 billion – a jump of 18%.

Forbes has compiled their annual list of America’s 100 richest women, and there are 15 new names in the list compared to last year.

The number one on the list, and for the fourth consecutive year, is ABC Supply co-founder, Diane Hendricks whose fortune ballooned to an estimated US$11 billion. The roofing supply mogul, who founded the firm with her late husband, becomes the first self-made woman in the US to surpass US$10 billion.

Epic Systems founder Judy Faulkner,  business executive Meg Whitman, Love's Travel Stops & Country Stores co-founder Judy Love, and Little Caesars Pizza co-founder Marian Ilitch round off the top five.

ALSO READ: Slaying it like a boss: Meet Australia's five female entrepreneurs

New to the ‘Wealthiest 100’ List

Singer Rihanna recently joined the billionaire club with an estimated fortune of US$1.7 billion.

Although a very successful pop artist, the Umbrella singer’s fortune has surprisingly not come from music but from her cosmetics line – Fenty Beauty – which she launched in 2017.

Rihanna said she was inspired to create Fenty Beauty because beauty products did not cater to all types of skin tones earlier. So, she wanted to create makeup that was more inclusive of all types of skin colors.

In its first year, Fenty Beauty turned over a massive US$550 million in sales.

Rihanna – whose real name is Robyn Fenty – also has a 30% stake in a lingerie line called Savage X.

Rihanna became the wealthiest female musician (Source: © Asaturjan | Megapixl.com)

Rihanna is one of 15 new names on the rich list, including another iconic singer – Dolly Parton – who added to her rich music catalog with a theme park in her native home of Tennessee called Dollywood.

Also new to the list is supermodel Cindy Crawford who amassed her fortune from her own line of skincare products called Meaningful Beauty.

Another new addition to the list is 23andMe founder, Anne Wojcicki who took her company public.

Last week, the biotech company, which analyses the genetics of customers who wish to know their ethnicity, announced a merger with billionaire Richard Branson’s company – VG Acquisition Corp. (NASDAQ:VGAC). It is now publicly traded on the NASDAQ.

The company announced its now called 23andMe Holding Co. and is traded under the ticker ME for its Class A Common shares and MEUSW for its public warrants.

At just 23 years old, the youngest on the list is Kylie Jenner, who was made famous by the reality TV show, Keeping Up With The Kardashians.

Last year, Forbes reported that Jenner was the youngest-ever self-made billionaire following the sale of 51% of her cosmetics line, Kylie Cosmetics.

The youngest self-made billionaire – Kylie Jenner (Source: © Starstock | Megapixl.com)

GOOD READ: 9 Female Entrepreneurs Making Waves In New Zealand  

The Breakdown

Two-thirds of the women on the Forbes 100 Richest Women list either founded or co-founded companies, while 26 of the names on the list are CEOs.

Nearly half (46) of the listed women reside in California, while the rest live in 22 different states across America.

The list was compiled using stock data from July 2, 2021. Therefore, it doesn’t consider the sale of actor Reese Witherspoon’s production company, Hello Sunshine, for US$400 million.

The sale of a majority stake to a Blackstone-backed media company on August 1, 2021, made Witherspoon the richest actor in the world.

The Hello Sunshine production company has had great success with hits like Big Little Lies, The Morning Show, and Little Fires Everywhere.

Moreover, 23andMe founder, Anne Wojcicki, was reported to have a net worth of US1.1 billion in July, which has since gone down to a reported US$800 million.

In any event, 2021 has been a landmark year for the women of America, with many new additions and the breaking down of gender barriers. What a time to be alive!