Fortune's Most Powerful Women List

Why It Matters

The list signals where corporate power is concentrated and underscores that women are influencing the direction of AI and finance at the highest levels, even as women remain dramatically underrepresented among Fortune 500 CEOs — a gap the list aims to spotlight and help close.

Summary

Fortune's Most Powerful Women in Business 2026 list names Citigroup CEO Jane Fraser as the new No. 1 and highlights the continuing dominance of tech and finance among the 100 honorees. The roster spans leaders from 94 companies — including 34 Fortune 500 firms — representing nearly 12 million employees and about $7 trillion in annual revenue. A notable trend this year is women's outsized presence in finance roles at major AI companies, with female CFOs at Microsoft, Meta and Nvidia shaping multibillion-dollar spending decisions. The list is global, with significant representation from China, France, the U.K. and top European and Asian honorees, and is compiled using recent financial performance, career trajectory and innovation criteria.

Original Description

Now in its 29th year, the Fortune Most Powerful Women list highlights the leaders commanding boardrooms, markets, and industries. And for the first time since 2024, we have a new No. 1.

The women on this list are leaders at 94 companies with a combined 11.8 million employees and $7.3 trillion in annual revenue. They hold 180 board seats and work across 20 countries and territories.

Most Powerful Women Editor Emma Hinchliffe and Editorial Director Ellie Austin discuss the making of the list and its significance.

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