Jane Fraser, Chair and CEO of Citigroup, leads Fortune’s 29th annual Most Powerful Women in Business list
Women driving change across AI, finance, energy, and health care are among this year’s top honorees
Half of the women on the list represent Fortune Global 500 companies, underscoring the list’s growing global scope
Sixteen newcomers join this year’s ranking, including leaders from U.S. Bancorp, Ulta Beauty, Sam’s Club, Nestlé, Binance and Walmart China
NEW YORK, May 27, 2026 /PRNewswire/ — Today, Fortune announced the 2026 edition of the Most Powerful Women in Business list, recognizing 100 of the world’s most influential women in business across finance, technology, health care, telecom, retail, energy, and other industries.
Now in its 29th year, the Fortune Most Powerful Women in Business list honors female leaders who are shaping the global business landscape today, as well as those poised for even greater influence.
This year’s list features leaders from 94 companies, including 50 women at Fortune Global 500 companies, 39 at Fortune 500 companies, 18 at Fortune 500 Europe companies, five at Fortune 500 China companies, and two at Fortune Southeast Asia 500 companies. Together, these leaders represent a combined 11.8 million employees and $7.3 trillion in annual revenue. They hold 180 board seats and span 20 countries and territories.
The U.S. has the highest number of female executives, followed by mainland China with 9; France and the U.K. with 6 each; Brazil, Germany, and the United Arab Emirates with 3 each; Australia, Hong Kong, Singapore, South Africa, South Korea, and Spain with 2 each; and India, Japan, Mexico, the Netherlands, Sweden, Switzerland, and Taiwan with 1 each.
Tech and finance dominate the list, with 27 and 26 women in each industry, respectively, among them Binance‘s Yi He (No. 64). Women are breaking through in other sectors too, including BP’s Meg O’Neill (No. 16), Big Oil’s first female CEO and a newcomer to the MPW list. As AI continues its rapid rise, women are increasingly helping shape its future, from Fidji Simo (No. 28), who holds an expansive role at OpenAI as CEO of AGI deployment, to Amy Hood at Microsoft (No. 38) and other female leaders who are making spending decisions that will help determine the future of their companies, the technology, and even the global economy.
There are 16 newcomers, from a broad range of fields, including Gunjan Kedia, chairman and CEO, U.S. Bancorp (No. 14); Kecia Steelman, president and CEO of Ulta Beauty (No. 39); Latriece Watkins, president and CEO of Sam’s Club (No. 87); Anna Manz, executive vice president and CFO of Nestlé (No. 91); and Christina Zhu (No. 92), president and CEO of Walmart China.
This year’s top 10 Most Powerful Women in Business:
- Jane Fraser, Chair and CEO, Citigroup (U.S.)
- Mary Barra, Chair and CEO, General Motors (U.S.)
- Lisa Su, Chair and CEO, AMD (U.S.)
- Julie Sweet, Chair and CEO, Accenture (U.S.)
- Ana Botín, Executive Chair, Banco Santander (Spain)
- Tan Su Shan, CEO and Director, DBS Group (Singapore)
- Thasunda Brown Duckett, President and CEO, TIAA (U.S.)
- Grace Wang, Chairwoman and CEO, Luxshare Precision Industry (China)
- Reshma Kewalramani, President and CEO, Vertex Pharmaceuticals (U.S.)
- Abigail P. Johnson, Chairman and CEO, Fidelity Investments (U.S.)
Jane Fraser, Citigroup Chair and CEO, takes the top spot for the first time five years after becoming the first woman to lead a major Wall Street bank in 2021. Citi’s stock is up more than 90% since her appointment (and almost 80% in the past 12 months, since Fraser came in at No. 3 on our 2025 list). The bank’s profitability is finally approaching that of its rivals as Fraser executes a closely watched turnaround.
“In its 29th year, this iconic list of powerful women includes almost half from outside of the U.S., reminding us that the impact of women’s leadership is being seen globally,” said Alyson Shontell, Fortune Editor in Chief and Chief Content Officer. “These are women transforming business today and preparing for a future during a time of tumult and uncertainty, but also great promise.”
Emma Hinchliffe, Fortune’s Most Powerful Women Editor writes that Fraser’s rise at Citi and to No. 1 on the MPW power list, “exemplifies how this list tracks not just who has an impressive title, but what they are doing with it—with hard business metrics to back that up.” She adds: The rise of women in AI is undeniable—and take a close look at the CFOs on this ranking. Nearly every major player in AI has a female CFO leading its finance operation.”
The list, compiled by Fortune editors, is based on the size and health of executives’ businesses or P&Ls, measured by 12-month and three-year financial data, as well as their influence, innovation, career trajectories, and efforts to make business better.
To explore the full list and profiles of the women featured, visit Fortune.com.
Later this year, Fortune will convene women recognized on the MPW list and more of the world’s most influential female business leaders from Fortune 500 companies and beyond at the Fortune Most Powerful Women Summit, taking place October 12-14 at the Ritz-Carlton Bacara in Santa Barbara, CA. Learn more about the event here.
About Fortune:
Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world’s new generation of innovators. Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World’s Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.
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