The 28th edition of Fortune's Most Powerful Women in Business (MPW 100) list focuses on highlighting those who are in power now and those who are on track to have even greater influence in the future.
This year's list features 52 women from the United States and 48 from other countries (eight from China; seven from France and the United Kingdom; three each from Germany, Singapore and Brazil; two each from Australia, Hong Kong, Japan and Spain; and one each from Kuwait and the United Arab Emirates).
The list, chosen by Fortune editors, is based on a company’s size and “health,” as well as a CEO’s career trajectory, influence, innovation, and efforts to improve the business. There are currently more than 50 women leading Fortune 500 companies, but only 20 made the list this year—a testament to the growing competition.
There are 16 newcomers, including Costco CEO and merchant Claudine Adamo (No. 43), who helped millions of Americans beat inflation by keeping prices low on essentials, and next-generation executives like ByteDance CFO Julie Gao (No. 81), who navigated the TikTok owner’s finances through troubles with the U.S. government . Returning honorees include Michelle Gass (No. 71), who made the list during stints at Kohl’s and Starbucks and is now CEO of Levi Strauss.
Top 10 Most Powerful Women in Business in 2025:
Mary Barra, Chairman and CEO, GM (USA)
Julie Sweet, President and CEO, Accenture (US)
Jane Fraser, CEO, Citigroup (USA)
Lisa Su, President and CEO, AMD (USA)
Ana Botín, Executive Chairman, Banco Santander (Spain)
Tan Su Shan, Director and Chief Executive Officer, DBS Group (Singapore)
Thasunda Brown Duckett, President and CEO, TIAA (USA)
Marta Ortega, President of Inditex (Spain)
Abigail Johnson, President and CEO, Fidelity Investments (USA)
Meng Wanzhou, Vice Chairwoman, Rotating Chairwoman and Chief Financial Officer, Huawei (China).
General Motors CEO Mary Barra tops the 28th annual MPW list.
Mary Barra has weathered significant challenges since last year, including the disruption caused by the sweeping auto tariffs imposed under President Donald Trump. But her steady leadership and unparalleled influence have earned her the No. 1 spot on this year’s Most Powerful Women list for the second year in a row and her fifth overall. In her 45th year at General Motors, Barra is leading the company toward cutting-edge technologies like artificial intelligence and moving closer to profitability in its electric vehicle business. As 2025 unfolds, GM’s future will depend on her ability to provide decisive leadership amid political uncertainty and the pressure to innovate.
“In its 28th year, this iconic list includes nearly half from outside the United States, reminding us that the impact of women is being seen globally,” said Alyson Shontell, Fortune editor-in-chief and chief content officer. “These are the women who are transforming businesses today and preparing for the future in turbulent and uncertain times.”
This year's "MPW 100" list was launched as part of a series of activities honoring women's leadership in innovation and global economic growth, held in the third week of May 2025, including the first international summit for women in power in Saudi Arabia.
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