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Sport Forbes unveils 2020 list of 100 richest self-made women in the US

01:26  15 october  2020
01:26  15 october  2020 Source:   dailymail.co.uk

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Forbes has released its annual list of the richest self-made women in the United States, with Rihanna, Kris Jenner and Bumble founder Whitney Wolfe Herd making the cut for the first time.

This year's list includes 20 new spots, highlighting 100 of the wealthiest business owners, entertainers and company executives whose combined fortunes amount to $90billion. Their wealth was calculated by using stock prices on September 11.

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Many of the 2020 contenders have reclaimed their positions or have moved up on the list, while others have dropped in the ranks such as Kylie Jenner, who has lost her billionaire status.

The 23-year-old is listed as number 29, with a net worth of $700million, falling below older sister Kim Kardashian, who took the number 24 spot, with $780million.

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Yet Hendricks resides at the top of Forbe 's annual list of richest self - made women , thanks to running ABC Supply The nation's richest female musician, Rihanna is making her debut in the rankings not because of singing These scripts allow us to collect information about how visitors use our Services.

Forbes is celebrating some of America’s most successful women with its second Richest Self - Made Women issue. Their cover features nine women aged Hendricks co-founded a roofing business with her late husband Kenneth in 1982. As a distributor, it grew rapidly and sales have doubled in the past

It comes after Jenner drew criticism when she was crowned Forbes youngest 'self-made' billionaire in 2019 after her Kylie Cosmetics line was estimated to be worth $900million.

Critics argued Jenner wasn't deserving of the title because she came from a wealthy family and was therefore not self-made.

Forbes later revoked her billionaire status after documents showed her business was smaller than the family had claimed.

Despite this, she is the youngest woman to be featured on the list, making her the richest 23-year-old in the country.

The list highlighted a number of newbies and 'newsmakers', as branded by the magazine, including Rihanna, who is ranked 33 after building a $600million net worth thanks to her cosmetics and lingerie line, Fenty.

The singer, 32, rose to the top of the music industry after getting her start in 2005, but has since taken a break from singing to run her beauty business which is co-owned by LVMH.

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Not too far behind is number 39, Whitney Wolfe Herd, the founder of dating app Bumble, who boasts a $575million net worth.

Herd, 31, from Salt Lake City, Utah, founded the popular dating app, which requires women to make the first move, in 2014.

It is now valued at $3billion and is rumored to be going public next year. She was previously listed in Forbes 30 Under 30 for Consumer Technology in 2017.

Gwynne Shotwell et al. posing for a photo: Gwynne Shotwell, the president and COO of Elon Musk's space exploration company, SpaceX., is ranked 72 with a net worth of $290million © Provided by Daily Mail Gwynne Shotwell, the president and COO of Elon Musk's space exploration company, SpaceX., is ranked 72 with a net worth of $290million

FORBES TOP 10 RICHEST SELF-MADE WOMEN 2020

1. DIANE HENDRICKS, CO FOUNDER AND CHAIRWOMAN OF ABC SUPPLY- $8BILLION

Hendricks is the co-founder and chairwoman of ABC Supply, one of the biggest wholesale distributors of roofing, siding, and windows.

The 73-year-old Wisconsin native had been running the company with Ken Hendricks since 1982 before taking over after his death in 2007.

The company, one of the largest wholesale providers for roofing and windows, has over 780 locations and more than $11 billion in sales.

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She previously sold custom-built homes before meeting her husband, a roofing contractor.

2. JUDY FAULKNER, CEO AND FOUNDER OF MEDICAL SOFTWARE PROVIDER EPIC SYSTEMS - $5.5BILLION

Judy Faulkner is the CEO of medical record software provider Epic Systems, which is valued at $3.2billion.

The 77-year-old, from New Jersey, founded the company in her basement in 1979 shortly after receiving her masters degree in computer science from the University of Wisconsin-Madison.

Epic has since grown into a reputable software system, which currently services 250million patients and is used by top medical centers across the country.

Faulkner was previously featured in Forbes top 50 Women in Tech in 2018. She rose to the number two spot of the richest self-made women in 2020 after being ranked four in 2019.

3. MEG WHITMAN, FORMER EBAY CEO AND CURRENT QUIBI CHIEF EXECUTIVE - $5BILLION

Meg Whitman dropped to number three this year with an estimated net worth of $5billion.

She is currently the CEO of Quibi, a new streaming platform that launched earlier this year.

The 64-year-old, from California, has amassed a long career as a successful executive, most notably at eBay.

During her ten-year stint at the helm of the online auction site, eBay went from $4million in sales to $8billion.

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She previously served as the CEO of Hewlett Packard from 2011 to 2015.

4. JUDY LOVE, RETAIL/GAS STATION OWNER, $4.7BILLION

Judy Love, 83, has made a fortune through her retail gas station chain, Love's Travel Stops & Country Stores.

The Oklahoma native founded the company in 1964 with only a $5,000 loan from her husband Tom's parents.

The business now has 520 stores across the country.

The couple shared four children, three of which work for the company, according to Forbes.

5. MARIAN ILTICH, CO FOUNDER OF LITTLE CAESAR'S PIZZA - $4.1BILLION

Marian Ilitch, 87, co-founded the Little Caesars pizza chain with her late husband, Mike Ilitch.

Mike Ilitch passed away in February 2017.

The Ilitches built a corporate empire that includes Little Caesars, the MotorCity Casino Hotel in Detroit, and the Detroit Red Wings hockey team, among other properties.

The popular pizza chain is estimated to bring in $4billion in annual systemwide sales.

6. LYNDA RESNICK, WONDERFUL CO MARKETING EXEC - $3.6BILLION

Lynda Resnick, 64, is the marketing exec behind Wonderful Co brands.

She built her fortune on the strength of the thousands of acres of almond, pistachio, orange and pomegranate orchards that she and her now husband own in California, Texas, and Mexico.

The two met in the 1960s when Stewart Resnick was starting his alarm business.

The Resnicks used their resources to build Wonderful Company, which markets brand names including Pom Wonderful, Wonderful Pistachios, and Fiji Water.

7. JOHNELLE HUNT, TRUCKING ENTREPRENEUR - $3.5BILLION

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Johnelle Hunt, who along with her late husband founded a rice hull packaging operation in 1961, is number seven on this year's list.

The 88-year-old and her spouse launched J.B. Hunt Transport Services with just five truck and seven trailers in Arkansas in 1969.

The company, which went public in 1983, now brings in $9.2billion in sales.

8. THAI LEE, CEO OF IT COMPANY - $3.2BILLION

Thai Lee is the CEO of IT provider SHI International, which is estimated to bring in $10.7billion in sales, according to Forbes.

The company now services over 20,000 customers including big name companies such as Boeing and AT&T.

The 61-year-old grew up in South Korea before moving to the US for high school and got her MBA from Harvard University.

9. OPRAH WINFREY, TALK SHOW HOST AND FOUNDER OF OWN - $2.6BILLION

Daytime television queen Oprah Winfrey remains one of the richest women in the world after she began building her empire with her hit talk show in 1986 until 2011.

The 66-year-old has since moved on to launch her own cable network, OWN, which launched in 2011.

10. DORIS FISHER, CO-FOUNDER OF THE GAP - $2.4BILLION

Doris Fisherco-founded the Gap clothing brand in San Francisco with her late husband, Don, in 1969.

The first version of the retail store sold jeans and music. The couple had raised $63,000 to open their business.

This year's list also includes newcomer Gwynne Shotwell, the president and COO of Elon Musk's space exploration company, SpaceX.

Shotwell is ranked 72 with a net worth of $290million.

The 56-year-old has been with the innovative aerospace company since 2002, when she took on the role of vice president of business development.

The impressive list of wealthy women co members range in age from 23 (Kylie Jenner) to 94 (life sciences mogul Alice Schwartz). T

Topping the list for the third consecutive year is roofing entrepreneur Diane Hendricks, who has seen a fruitful 12 months as she raked in a net worth of $8billion, up $1billion from 2019.

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Hendricks, 73, is the co-founder and chairwoman of ABC Supply, one of the biggest wholesale distributors of roofing, siding, and windows.

Trailing behind is Judy Faulkner, the CEO and founder of medical software provider Epic Systems, with a $5.5billion fortune.

Faulkner, 77, took over the number two spot from former eBay CEO and now Quibi chief, Meg Whitman, who dropped to number three this year with a net worth of $5billion.

Among the top ten richest are gas station owner Judy Love with $4.7billion, Little Caesar's founder Marian Iltich with $4.1billion, Wonderful Co marketing executive Lynda Resnick with $3.6billion, trucking entrepreneur Johnelle Hunt with $3.5billion, and IT CEO Thai Lee with $3.2billion.

Oprah Winfrey came in at number nine with a $2.6billion fortune from her TV network and Gap co-founder Doris Fisher, 89, capped the top 10 list with $2.4billion.

FORBES 100 RICHEST SELF-MADE WOMEN 2020

Diane Hendricks, 73, $8B, roofing

Judy Faulkner, 77, $5.5B, health IT

Meg Whitman, 64, $5B, eBay

Judy Love, $4.7B, retail & gas stations

Marian Ilitch, 87, $4.1B, Little Caesars

Lynda Resnick, 77, $3.6B, agriculture

Johnelle Hunt, 88, $3.5B, trucking

Thai Lee, 61, $3.2B, IT provider

Oprah Winfrey ,66, $2.6B, TV shows

Doris Fisher, 89, $2.4B, Gap

Alice Schwartz, 94, $2.2B, biotech

Gail Miller, 76, $1.9B,dealerships

Sheryl Sandberg, 51, $1.8B, Facebook

Elaine Wynn, 78, $1.8B, casinos, hotels

Eren Ozmen ,62, $1.2B,aerospace

Safra Catz, 58, $1.1BN, software

Peggy Cherng, 72,  $1.1B,  fast food

Weili Dai ,59, $1.1B, semiconductors

Robyn Jones, 58, $1.1B, insurance

Jayshree Ullal, 59, $1.1B, computer networking

Neerja Sethi, 65,  $1B, IT consulting, outsourcing

Kathy Fields, 62, $800M, skin care

Katie Rodan, 65, $800M, skin care

Kim Kardashian West, 39, $780M, cosmetics, reality TV

Sheila Johnson, 71, $770M, cable TV

Tory Burch, 54, $750Million, fashion

Anne Dinning, 57, $750M, hedge fund

Nancy Zimmerman, 57, $720M, hedge funds

April Anthony, 53, $700M, healthcare

Kylie Jenner, 23, $700M, cosmetics

Kit Crawford, 62, $690M, Clif Bar

Sara Blakely, 49, $610M, Spanx

Theresia Gouw, 48, $600M, venture capital

Marissa Mayer, 45,$600M,Google, Yahoo

Neha Narkhede, 36, $600M, software

Rihanna, 32,$600M, Cosmetics, Music

Young Sohn, 62, $600M,software

Susan Wojcicki, 52,$580M ,Google

Whitney Wolfe Herd, 31, $575M, dating app

Madonna, 62, $550M, music

Anastasia Soare, 62,$540M,cosmetics

Therese Tucker, 59,$540M ,software

Mary West, 74,$540M, telemarketing

Donna Carpenter, 57, $530M, snowboards

Lisa SU, 51, $530M, semiconductors

Victoria Zoellner, 77, $520M, hedge fund

Huda Kattan, 37, $510M, cosmetics

Kendra Scott, 46, $510M, jewelry

Anne Wojcicki, 47, $500M, DNA testing

Jamie Kern Lima, 43, $460M, cosmetics

Celine Dion, 52, $455M, music

Donna Karan, 72, $450M, fashion

Judy Sheindlin, 77, $445M, TV

Adi Tatarko, 48, $430M, home design

Beyoncé Knowles, 39, $420M, music

Nora Roberts, 70, $400M, books

Barbra Streisand, 78, $400M, music

Danielle Steel, 73, $385M, books

Karissa Bodnar, 31, $370M, cosmetics

Ellen DeGeneres, 62, $370M, television

Kathleen Hildreth, 59, $370M, airplane maintenance

Liz Elting, 54, $365M, translation services

Taylor Swift, 30, $365M, music

Katrina Lake, 37, $360M, online retail

Sonia Gardner, 58, $330M, finance

Nichole Mustard, 47, $330M, personal finance

Martine Rothblatt, 66, $330M, pharmaceuticals

Claire Hughes Johnson, 48, $325M, payments software

Pleasant Rowland, 79, $325M, American Girl dolls

Susan Wagner, 59, $315M, Blackrock, Inc.

Lynda Weinman, 65, $310M, online education

Jessica Iclisoy, 54, $290M, baby products

Gwynne Shotwell. 56, $290M, SpaceX

Janice Bryant Howroyd & family, 68, $285M, staffing

Patricia Miller, 81, $285M, accessories

Vera Wang, 71, $270M, fashion design

Reshma Shetty, 40, $260M, biotechnology

Toni Ko, 47, $255M, cosmetics

Kelly Steckelberg, 53, $255M, Zoom Video Communications

Theresa Pan, 74, $250M, fiber optics

Cathie Wood, 64, $250, money management

Belinda Johnson, 53, $245M, Airbnb

Serena Williams, 39, $225M, tennis

Suzy Batiz, 56, $215M, bathroom spray

Sarah Friar, 47, $215M, mobile payments

Barbara Bradley Baekgaard, 81, $210M accessories

Angela Ahrendts, 60, $200M, Apple

Susannah Gray, 60, $200M, pharmacueticals

Maria Sharapova, 33, $200M, tennis

Reese Witherspoon, 44, $200M, entertainment

Sachiko Kuno, 65, $195M, pharmaceuticals

Kris Jenner, 64, $190M,cosmetics

Cordia Harrington, 67, $180M, bakeries

Ruth Porat, 62, $180M, Google

Sosi Setian & family, 77, $165M, translation

Janet Weiner, 72, $155M, energy drinks

Lady Gaga, 34, $150M, music

Jennifer Lopez, 51, $150M, Music, Television

Phebe Novakovic, 62, $150M, aerospace

Shoshana Shendelman, 41, $150M, biopharma

Read more

Building barriers or creating space? A closer look at the Boosting Female Founders Initiative’s tight eligibility criteria .
The government’s Boosting Female Founders Initiative comes with some pretty strict eligibility criteria attached. You can read more about the specifics in part one of this series, but, essentially, by requiring startups to be at least 50% owned by women, the scheme excludes any business with a male co-founder that has also secured investment from a male-led organisation. The size of the problem Judging purely by her own circle of startup connections, UpCover co-founder Skye Theodorou estimates that about 80% of women-led startups wouldn’t qualify for the Boosting Female Founders Initiative (BFF Initiative).

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