Mary Barra, CEO of General Motors, tops the 28th annual MPW list, followed by Accenture CEO Julie Sweet and Citigroup CEO Jane Fraser
Today, Fortune announced the 2025 edition of the Most Powerful Women in Business list, featuring 100 leading businesswomen from finance, tech, health care, telecom, retail, energy, and other industries.
The 28th edition of the Fortune Most Powerful Women in Business list honors 100 female leaders from the global business landscape—spotlighting those who hold power now and those on the rise to even greater influence. This year’s iteration features 52 women from the U.S. and 48 from other countries—8 from China; 7 each from France and the U.K.; 3 each from Germany, Singapore, and Brazil; 2 each from Australia, Hong Kong, Japan, and Spain, and one each from Kuwait and United Arab Emirates.
The list, compiled by Fortune editors, is based on company size and health, as well as an executive’s career trajectory, influence, innovation, and efforts to make business better. More than 50 women currently lead Fortune 500 companies, yet only 20 made this year’s list—a testament to how increasingly competitive the ranking has become.
There are 16 newcomers, including Costco’s chief operator and merchant Claudine Adamo (No. 43), helping millions of Americans navigate inflation by keeping prices low on essentials, and next-gen execs such as Julie Gao, CFO of ByteDance (No. 81), steering the TikTok owner’s finances through its tangles with the U.S. government. Returning honorees include Michelle Gass (No. 71), who made the list during her time at Kohl’s and Starbucks, and is now CEO of Levi Strauss.
The top 10 Most Powerful Women in Business 2025 are:
- Mary Barra, Chair and CEO, GM (U.S.)
- Julie Sweet, Chair and CEO, Accenture (U.S.)
- Jane Fraser, CEO, Citigroup (U.S.)
- Lisa Su, Chair and CEO, AMD (U.S.)
- Ana Botín, Executive Chairman, Banco Santander (Spain)
- Tan Su Shan, Director and CEO, DBS Group (Singapore)
- Thasunda Brown Duckett, President and CEO, TIAA (U.S.)
- Marta Ortega, Chairperson, Inditex (Spain)
- Abigail Johnson, Chairman and CEO, Fidelity Investments (U.S.)
- Meng Wanzhou, Deputy Chairwoman, Rotating Chairwoman, and CFO, Huawei (China)
Mary Barra has weathered significant challenges since last year, including the disruption caused by sweeping auto tariffs introduced under former President Trump. Yet her steady leadership and unmatched influence have once again earned her the No. 1 spot on this year’s Most Powerful Women list—for the second consecutive year and fifth time overall. Now in her 45th year at General Motors, Barra is steering the company toward cutting-edge technologies like artificial intelligence and pushing closer to profitability in its electric vehicle business. As 2025 unfolds, GM’s future will depend on her ability to lead decisively through political uncertainty while continuing to innovate.
“In its 28th year, this iconic list of powerful women includes almost half from outside of the U.S., reminding us that the impact of women 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.”
“This definitive ranking of the women at the top of the global business world…tells us both who wields power today and who is poised to climb even higher tomorrow,” writes Emma Hinchliffe, Fortune senior writer, author of Most Powerful Women Daily newsletter, and editor of the 100 Most Powerful Women in Business list of 2025.
Today’s MPW 100 list debut coincides with the inaugural MPW International Summit in Riyadh, Saudi Arabia, Fortune’s first international summit in the region. To learn more about the upcoming 2025 Most Powerful Women Summit, taking place October 13–15 at The Salamander in Washington, D.C., click here.
