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Top 5 Wealthiest Female CEOs

Wealthiest Female CEOs

Wealthiest Female CEOs: Women who thrive in positions of power are not the most common occurrence in today’s prejudice-filled world. If we want things to turn for the better, we need to raise awareness about females succeeding as leaders in the most unlikely industries!

To that end, we’ve compiled a list of the wealthiest female CEOs in the world. We’ll cut the suspense and begin straight with the richest of them.

1. Denise Coates, Bet365

Bet365 chief Denise Coates has her pay cut for first time in 3 years | Financial Times

We bet you’ll have a hard time finding a female CEO as wealthy as Denise Coates, co-founder, and CEO of gambling company Bet365. Although the sports betting industry is still male-dominant, she managed to climb her way to the top and become a billionaire in the meantime.

Bet365 was launched in 2001 through a £15 million loan, and it was such a major success that Coates managed to repay the loan within 4 years and make a profit. Fast forward to 2022, and her fortune is estimated to sit around £8 billion.

Controversy arose when her salary went public. It turns out she paid herself more than £500 million in 2020, becoming the highest-paid CEO in Great Britain. However, if we put her achievements into perspective, she’s undoubtedly in the top 3 most influential women in the gambling industry, up there with professional poker player Vanessa Selbst and MGM Macau’s CEO, Pansy Ho.

2. Pansy Ho, MGM Macau

Hong Kong Casino Billionaire Pansy Ho's Shun Tak Buys Prime Singapore Residential Site For $408 Million

Pansy Ho is often referred to as the queen of Macau gambling. She’s a major stakeholder in her father’s ‘SJM’ casino and owns 29% of the MGM Grand Macau. Despite multiple sources claiming that Ho is co-chair of MGM China Holdings, the company’s official website does not mention her name on the directors’ page.

Aside from business in the casino industry, she’s the CEO of Shun Tak Holdings, a company running luxury hotels and a local ferry service. And she presides over numerous cultural institutions, including the Global Tourism Economy Research Centre and the China Chamber of Tourism.

It’s interesting to point out her father’s alleged association with the Chinese mafia. A New Jersey investigation from the early 2000s cites his links with the Kung Lok Triad. In 2010, she was banned from running a casino operation in New Jersey. Still, 4 years later, at the appeal, Ho won, and the State of New Jersey had to drop the restrictions.

We don’t know how solid the case is for Ho’s links with the mafia. Still, at least from the outside, she seems an incredibly gifted leader and entrepreneur, as these skills have brought her a fortune greater than £3 billion.

3. Safra Catz, Oracle

Things you Didn't Know About Safra Catz

Safra Catz is among the few women featured on Forbes’ World Billionaire List, with a fortune greater than £1 billion. At the helm of IT multinational Oracle, she is the highest-paid CEO in the United States.

The Israeli-born American completed her education with a doctorate from the University of Pennsylvania Law School. She held various positions in the banking sector before joining Oracle in 1999.

Her ascendancy through the company’s ranks is the stuff of movies. After just 2 years of being vice-president at Oracle, she became a member of the board of directors. Then, in 2004, she was appointed president. By 2009, Catz proved herself as one of the most influential businesswomen. However, she had to wait until 2019 to officially become the multinational’s, Chief Executive Officer.

It might seem like Safra Catz has enough on her plate, leading a company that generates $22 billion annually. Still, her interests are far more wide-ranging. She’s also an experienced stock trader, a lecturer in accounting at Stanford, and a member of the directors’ board at Disney.

4. Mary Barra, General Motors

Mary Barra | Fortune

Mary Barra may not be a billionaire, but she can’t call herself poor either given her net worth of almost $200 million.

We couldn’t leave out such an influential career woman who wrote a page of feminist history back in 2014 when she was elected CEO of General Motors. Thus, she became the first-ever woman CEO in the auto manufacturing industry!

Barra’s triumphant journey at General Motors completely disproves the stereotype that women cannot perform in traditionally ‘masculine’ fields like car making. If you can’t believe it, look up her salary. No company would ever pay an underperforming employee $20 million a year.

Still, her achievement cannot compensate for the sad fact that women only comprise a little over 20% of the industry’s workforce.

5. Jane Fraser, Citigroup

Citigroup CEO Jane Fraser: You can have it all — just not all at once

The final entry in our list is another strong-willed woman who wanted to succeed in a men’s world. In 2021, Jane Fraser was appointed CEO of global banking giant Citigroup. She thus became the first woman CEO on Wall Street.

Jane’s leadership could serve as a course in overcoming female prejudice. Naysayers will say they’ve made her CEO just for the press, but her accomplishments speak for themselves. Since she joined in 2004, Fraser’s strategies helped the company overcome a deficit, become profitable, and even be crowned the Best Global Private Bank by the prestigious Financial Times.

Interestingly, Fraser has recently implemented a hybrid work schedule at Citigroup as part of a ‘structural and cultural rehabilitation plan. We’ll have to wait and see if it pans out as expected. Still, the fact that she’s looking to add more flexibility to the banking industry is admirable.

Besides commanding a global bank and pioneering female empowerment, Jane Fraser is a fine researcher of globalization, having published numerous articles.

She’s not precisely the flashy type of millionaire. We couldn’t find a reliable estimation of her net worth. Still, we know her payslip is around $20 million yearly, so she rightfully deserves her spot among the wealthiest female CEOs!

Bridging the gender gap

Historically, women were banished from leadership positions. The landscape hasn’t changed much in the political arena, as females continue to be underrepresented in governments and parliaments worldwide.

The situation is not wildly different when it comes to corporate leadership. Only 15% of Fortune 500 companies have the wealthiest female CEOs. Still, studies show that the number of female CEOs has risen considerably in the last 4 years.

We dare to assert that the wealthiest female CEOs presented throughout this article were genuine role models that positively influenced this development. Their efforts and obstinate nature help move the world closer to truly accepting gender equality.

 

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Google’s Search Dominance Is Unwinding, But Still Accounting 48% Search Revenue

Google

Google is so closely associated with its key product that its name is a verb that signifies “search.” However, Google’s dominance in that sector is dwindling.

According to eMarketer, Google will lose control of the US search industry for the first time in decades next year.

Google will remain the dominant search player, accounting for 48% of American search advertising revenue. And, remarkably, Google is still increasing its sales in the field, despite being the dominating player in search since the early days of the George W. Bush administration. However, Amazon is growing at a quicker rate.

google

Google’s Search Dominance Is Unwinding

Amazon will hold over a quarter of US search ad dollars next year, rising to 27% by 2026, while Google will fall even more, according to eMarketer.

The Wall Street Journal was first to report on the forecast.

Lest you think you’ll have to switch to Bing or Yahoo, this isn’t the end of Google or anything really near.

Google is the fourth-most valued public firm in the world. Its market worth is $2.1 trillion, trailing just Apple, Microsoft, and the AI chip darling Nvidia. It also maintains its dominance in other industries, such as display advertisements, where it dominates alongside Facebook’s parent firm Meta, and video ads on YouTube.

To put those “other” firms in context, each is worth more than Delta Air Lines’ total market value. So, yeah, Google is not going anywhere.

Nonetheless, Google faces numerous dangers to its operations, particularly from antitrust regulators.

On Monday, a federal judge in San Francisco ruled that Google must open up its Google Play Store to competitors, dealing a significant blow to the firm in its long-running battle with Fortnite creator Epic Games. Google announced that it would appeal the verdict.

In August, a federal judge ruled that Google has an illegal monopoly on search. That verdict could lead to the dissolution of the company’s search operation. Another antitrust lawsuit filed last month accuses Google of abusing its dominance in the online advertising business.

Meanwhile, European regulators have compelled Google to follow tough new standards, which have resulted in multiple $1 billion-plus fines.

google

Pixa Bay

Google’s Search Dominance Is Unwinding

On top of that, the marketplace is becoming more difficult on its own.

TikTok, the fastest-growing social network, is expanding into the search market. And Amazon has accomplished something few other digital titans have done to date: it has established a habit.

When you want to buy anything, you usually go to Amazon, not Google. Amazon then buys adverts to push companies’ products to the top of your search results, increasing sales and earning Amazon a greater portion of the revenue. According to eMarketer, it is expected to generate $27.8 billion in search revenue in the United States next year, trailing only Google’s $62.9 billion total.

And then there’s AI, the technology that (supposedly) will change everything.

Why search in stilted language for “kendall jenner why bad bunny breakup” or “police moving violation driver rights no stop sign” when you can just ask OpenAI’s ChatGPT, “What’s going on with Kendall Jenner and Bad Bunny?” in “I need help fighting a moving violation involving a stop sign that wasn’t visible.” Google is working on exactly this technology with its Gemini product, but its success is far from guaranteed, especially with Apple collaborating with OpenAI and other businesses rapidly joining the market.

A Google spokeswoman referred to a blog post from last week in which the company unveiled ads in its AI overviews (the AI-generated text that appears at the top of search results). It’s Google’s way of expressing its ability to profit on a changing marketplace while retaining its business, even as its consumers steadily transition to ask-and-answer AI and away from search.

google

Google has long used a single catchphrase to defend itself against opponents who claim it is a monopoly abusing its power: competition is only a click away. Until recently, that seemed comically obtuse. Really? We are going to switch to Bing? Or Duck Duck Go? Give me a break.

But today, it feels more like reality.

Google is in no danger of disappearing. However, every highly dominating company faces some type of reckoning over time. GE, a Dow mainstay for more than a century, was broken up last year and is now a shell of its previous dominance. Sears declared bankruptcy in 2022 and is virtually out of business. US Steel, long the foundation of American manufacturing, is attempting to sell itself to a Japanese corporation.

Could we remember Google in the same way that we remember Yahoo or Ask Jeeves in decades? These next few years could be significant.

SOURCE | CNN

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2024 | Supreme Court Won’t Hear Appeal From Elon Musk’s X Platform Over Warrant In Trump Case

trump

Washington — Trump Media,  The Supreme Court announced Monday that it will not hear an appeal from social media platform X about a search warrant acquired by prosecutors in the election meddling case against former President Donald Trump.

The justices did not explain their rationale, and there were no recorded dissents.

The firm, which was known as Twitter before being purchased by billionaire Elon Musk, claims a nondisclosure order that prevented it from informing Trump about the warrant obtained by special counsel Jack Smith’s team violated its First Amendment rights.

The business also claims Trump should have had an opportunity to exercise executive privilege. If not reined in, the government may employ similar tactics to intercept additional privileged communications, their lawyers contended.

trump

Supreme Court Won’t Hear Appeal From Elon Musk’s X Platform Over Warrant In Trump Case

Two neutral electronic privacy groups also joined in, urging the high court to hear the case on First Amendment grounds.

Prosecutors, however, claim that the corporation never shown that Trump utilized the account for official purposes, therefore executive privilege is not a problem. A lower court also determined that informing Trump could have compromised the current probe.

trump

Trump utilized his Twitter account in the weeks preceding up to his supporters’ attack on the Capitol on January 6, 2021, to spread false assertions about the election, which prosecutors claim were intended to create doubt in the democratic process.

The indictment describes how Trump used his Twitter account to encourage his followers to travel to Washington on Jan. 6, pressuring Vice President Mike Pence to reject the certification, and falsely claiming that the Capitol crowd, which battered police officers and destroyed glass, was peaceful.

musk trump

Supreme Court Won’t Hear Appeal From Elon Musk’s X Platform Over Warrant In Trump Case

That case is now moving forward following the Supreme Court’s verdict in July, which granted Trump full immunity from criminal prosecution as a former president.

The warrant arrived at Twitter amid quick changes implemented by Musk, who bought the company in 2022 and has since cut off most of its workforce, including those dedicated to combating disinformation and hate speech.

He also welcomed back a vast list of previously banned users, including Trump, and endorsed him for the 2024 presidential election.

SOURCE | AP

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The Supreme Court Turns Down Biden’s Government Appeal in a Texas Emergency Abortion Matter.

Supreme Court

(VOR News) – A ruling that prohibits emergency abortions that contravene the Supreme Court law in the state of Texas, which has one of the most stringent abortion restrictions in the country, has been upheld by the Supreme Court of the United States. The United States Supreme Court upheld this decision.

The justices did not provide any specifics regarding the underlying reasons for their decision to uphold an order from a lower court that declared hospitals cannot be legally obligated to administer abortions if doing so would violate the law in the state of Texas.

Institutions are not required to perform abortions, as stipulated in the decree. The common populace did not investigate any opposing viewpoints. The decision was made just weeks before a presidential election that brought abortion to the forefront of the political agenda.

This decision follows the 2022 Supreme Court ruling that ended abortion nationwide.

In response to a request from the administration of Vice President Joe Biden to overturn the lower court’s decision, the justices expressed their disapproval.

The government contends that hospitals are obligated to perform abortions in compliance with federal legislation when the health or life of an expectant patient is in an exceedingly precarious condition.

This is the case in regions where the procedure is prohibited. The difficulty hospitals in Texas and other states are experiencing in determining whether or not routine care could be in violation of stringent state laws that prohibit abortion has resulted in an increase in the number of complaints concerning pregnant women who are experiencing medical distress being turned away from emergency rooms.

The administration cited the Supreme Court’s ruling in a case that bore a striking resemblance to the one that was presented to it in Idaho at the beginning of the year. The justices took a limited decision in that case to allow the continuation of emergency abortions without interruption while a lawsuit was still being heard.

In contrast, Texas has been a vocal proponent of the injunction’s continued enforcement. Texas has argued that its circumstances are distinct from those of Idaho, as the state does have an exemption for situations that pose a significant hazard to the health of an expectant patient.

According to the state, the discrepancy is the result of this exemption. The state of Idaho had a provision that safeguarded a woman’s life when the issue was first broached; however, it did not include protection for her health.

Certified medical practitioners are not obligated to wait until a woman’s life is in imminent peril before they are legally permitted to perform an abortion, as determined by the state supreme court.

The state of Texas highlighted this to the Supreme Court.

Nevertheless, medical professionals have criticized the Texas statute as being perilously ambiguous, and a medical board has declined to provide a list of all the disorders that are eligible for an exception. Furthermore, the statute has been criticized for its hazardous ambiguity.

For an extended period, termination of pregnancies has been a standard procedure in medical treatment for individuals who have been experiencing significant issues. It is implemented in this manner to prevent catastrophic outcomes, such as sepsis, organ failure, and other severe scenarios.

Nevertheless, medical professionals and hospitals in Texas and other states with strict abortion laws have noted that it is uncertain whether or not these terminations could be in violation of abortion prohibitions that include the possibility of a prison sentence. This is the case in regions where abortion prohibitions are exceedingly restrictive.

Following the Supreme Court’s decision to overturn Roe v. Wade, which resulted in restrictions on the rights of women to have abortions in several Republican-ruled states, the Texas case was revisited in 2022.

As per the orders that were disclosed by the administration of Vice President Joe Biden, hospitals are still required to provide abortions in cases that are classified as dire emergency.

As stipulated in a piece of health care legislation, the majority of hospitals are obligated to provide medical assistance to patients who are experiencing medical distress. This is in accordance with the law.

The state of Texas maintained that hospitals should not be obligated to provide abortions throughout the litigation, as doing so would violate the state’s constitutional prohibition on abortions. In its January judgment, the 5th United States Circuit Court of Appeals concurred with the state and acknowledged that the administration had exceeded its authority.

SOURCE: AP

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