Women Paving the Way

The history of women and wealth in America is punctuated by boundary-breaking leaders who dared to dream bigger than the status quo.

We’re spotlighting ten impressive trailblazers whose achievements paved the way for other’s success, and ultimately changed the face of women and wealth in America. Explore how their stories left lasting legacies on their communities, their industries, and the many women who followed in their footsteps.

Mary Kies (1752 – 1837)

First American woman to hold a patent in her own name  

Her story: Taking advantage of the 1790 Patent Act, a new law that allowed “any person or persons” to petition for protection of their original methods and designs, in 1809 Mary Kies was granted the first-ever patent awarded to a woman for her innovative straw-hat making technique. For context, by 1840 only 20 U.S. patents had been issued to women, and from 1800-1899 women were named on less than 1% of the 681,000 patents granted during that time frame.

Her legacy: Her new approach of weaving silk or thread into straw took off and became a fashionable trend. President James Madison signed the patent, and First Lady Dolley Madison wrote Kies a personal letter, congratulating her on her invention and for helping advance women in industry. Her history-making patent paved the way for generations of women entrepreneurs to follow in her footsteps.¹

_{A woman wears a bonnet in the style popularized by Mary Kies’ innovative hat-making technique. Calvert Litho. Co. (ca. 1892) Head-And-Shoulders Image of Brunette Woman, Facing Right, Wearing Large Blue Hat, ca. 1892. Detroit, Mich.: Calvert Litho. Co. [Photograph] Retrieved from the Library of Congress.)}

Rebecca Lukens (1794 – 1854)

First American woman to lead an industrial company   

Her story: Following the tragic death of her husband, in 1825 Rebecca Lukens took over Brandywine Iron Works and Nail Factory. At the time of her husband’s death, the company was nearly bankrupt, but through Rebecca’s hard work and business savvy, she revived it to success.

Her legacy: Brandywine Iron Works would go on to provide the material for the nation’s first ironclad steamship, a fact that would bring the company much acclaim. During the Panic of 1837, while many companies fired their workforces, Lukens kept hers employed. By the 1840s, the mill was profitable, and Lukens was worth approximately $60,000 (roughly $2.2 million in today’s dollars). The company remained in the family until it was acquired in 1998.²

Victoria Woodhull (1838 - 1927)

First woman to run for president and the first female stockbroker on Wall Street

Her story: Along with her sister, Tennessee Claflin, Victoria Woodhull found financial success working as a spiritual medium. With a savings fund of almost $700,000 (over $15 million in today’s dollars), they started a brokerage firm and became the first women to operate a firm on Wall Street.

Her legacy: Woodhull used her financial success to advocate for causes she was passionate about. An active suffragist, she joined Susan B. Anthony to argue for women’s right to vote in 1871. In 1872, she became the first woman to run for president, alongside vice presidential nominee, abolitionist Frederick Douglass.³  

Maggie Lena Walker (1864-1934)

First woman to own a bank in the U.S.

Her story: Born to enslaved parents, Maggie Lena Walker first worked as a teacher before harnessing her skills to charter the St. Luke Penny Savings Bank in Virginia in 1903. She was the first woman of any race to own a bank in the United States. 

Her legacy: Under Walker’s leadership, the Penny Savings Bank would reportedly become the largest white-collar employer of Black women in Richmond, Virginia. Walker would go on to hold leadership positions in the National Association of Colored Women (NACW) and the Richmond chapter of the National Association for the Advancement of Colored People (NAACP).⁴

_{Maggie Lena Walker [Photograph], The Browns, Public domain, via Wikimedia Commons.}

Madam C.J. Walker (1867 – 1919)

America’s first female self-made millionaire

Her story: The daughter of former slaves, Madam C.J. Walker (born Sarah Breedlove) founded a line of haircare products for Black women that would go on to make her the first woman self-made millionaire. A talented entrepreneur, Walker’s inspiration for her product line was born from her own experience with hair loss.

Her legacy: Walker’s hair care regimen — fittingly dubbed the “Walker method” — gained a loyal following and transformed the Black haircare industry. She went on to fund scholarships for women at the Tuskegee Institute and donated large portions of her wealth to the NAACP, the Black YMCA and other charities.⁵

Lettie Pate Whitehead (1872 – 1953)

One of the first female directors of a major U.S. corporation

Her story: The wife of one of the original bottlers of Coca-Cola, Lettie Pate Whitehead assumed management of her late husband’s business and became one of the first female directors of a major U.S. corporation when she was appointed to the board of The Coca-Cola Company in 1934 — a position she held for nearly 20 years. 

Her legacy: An active and generous philanthropist, Whitehead gave away millions to charities. Today, the Lettie Pate Whitehead Foundation provides support for the education of female students and for the care of senior women in nine Southeastern states.⁶

Juanita Kreps (1921-2010)

First woman to serve as Secretary of Commerce

Her story: A lauded economist, Juanita Kreps was appointed to Secretary of Commerce under President Jimmy Carter. She was the first woman to hold that title, and just the fourth woman in U.S. history to serve in a Cabinet position.   

Her legacy: In her work as an economist, Kreps often wrote about issues facing women in the workplace, including equal pay and flexible hours. In 1972, she became the first woman to be named the James B. Duke Professor of Economics, and would go on to serve as the dean of the Woman’s College at Duke, as well as Duke’s vice president.⁷

Muriel Siebert (1928 – 2013)

The first woman to become a member of the New York Stock Exchange

Her story: Dubbed “The First Woman of Finance,” in 1967 Siebert became the first woman to buy a seat and become a member of the New York Stock Exchange. She would remain the only woman out of 1,365 men on the stock exchange for 10 years. In 1977, Siebert became New York’s first female superintendent of banking.

Her legacy: Passionate about helping the community, Siebert started the Siebert Entrepreneurial Philanthropic Program in 1990, through which she shared half of her firm’s profits from new securities underwriting with charities of the issuer’s choice. During her time as president of New York Women’s Agenda, she developed a personal finance program that is now taught in New York City Schools. Despite never graduating from college, Siebert received a total of 17 honorary doctorates throughout her life.⁸

_{Muriel Siebert. Photo by Cynthia Johnson/Contributor, Getty Images.}

Emily Card, PhD (b. 1942)

Instrumental figure in passing The Equal Credit Opportunity Act of 1974 

Her story: As a legislative fellow in the office of Senator William Brock, Emily Card advocated for federal legislation granting women access to credit. She leveraged her skills and networks, helped write the legislation and was on the Senate floor when it passed.

Her legacy: Before 1974, banks were legally allowed to deny women credit, or charge them a higher interest rate if they failed to get a male cosigner — even if they made more money than their male counterpart. The Equal Credit Opportunity Act was instrumental in securing women’s financial independence in the decades to come. Card went on to run for Congress, author numerous books, host a television show, and lead research projects on women’s credit at Harvard and the University of Southern California.⁹

Whitney Wolfe Herd (b. 1989)

Became the youngest self-made woman billionaire after taking a company public

Her story: As the cofounder, chair and former CEO of Bumble, Whitney Wolfe Herd took the company public in 2021 in a historic IPO valued at $14 billion. She was just 32 years old. As of early 2025, Wolfe Herd was reported be returning as CEO.

Her legacy: Long-committed to the empowerment of women (the dating and networking app first gained acclaim for its signature feature requiring women to message matches first), Wolfe Herd is a strong supporter of other female founders. In 2018 the company launched Bumble Fund, focusing on early-stage investments in businesses founded and led by women of color and other underrepresented groups. During the global pandemic, the company provided grants to 200 businesses in 11 countries, and in 2020, Bumble partnered with Black Girl Ventures to provide capital for Black women entrepreneurs.¹⁰

These ten women are just a small sample of the generations of trailblazers that have been instrumental in paving the way for our financial empowerment. We hope their stories inspire you to dream bigger, challenge the status quo and harness your talents to make an impact.