It’s important to recognize that the history of finance isn't just a story of numbers and markets. It’s also a story of resilience, values, and the human drive to create a better life for our communities. Whether you're mapping out your own financial roadmap or just looking for inspiration, the stories of these eight women show us that money is a powerful tool for self-fulfillment and positive change.
Maggie Lena Walker (1864-1934)
Maggie Lena Walker was a true visionary who understood that financial stability is the foundation of community strength. As a 19th-century woman of color and the daughter of a formerly enslaved person, she overcame incredible odds to build an institution that helped many people of color achieve financial independence.
She founded St. Luke’s Penny Savings Bank in 1903 with a clear mission: to encourage African-American women to harness their economic power through saving and investing. Under her careful management, the bank grew to over 50,000 members. Notably, it was one of the few banks to survive the stock market crash of 1929. Her legacy lives on, as her bank eventually merged to become The Consolidated Bank and Trust Company, and her former home is now a registered historic site. She even received an honorary master's degree from Virginia Union University in 1925.
Muriel Siebert (1928-2013)
Often called "the first woman of finance," Muriel Siebert refused to take "no" for an answer. Her journey began in business classes at Western Reserve University, where she was often the only female student. A trip to the New York Stock Exchange during college left a massive impact on her, and she resolved to work there one day.
Breaking in wasn't easy. She landed her first job as a researcher by lying about having a college degree and often had to switch jobs because she was paid less than her male counterparts. But she persisted. After spending two years finding a sponsor and securing a loan, she purchased a seat on the exchange in 1967 for $450,000 then. She later became New York’s first female superintendent of banking, charged with regulating the state’s financial institutions, and remained a tireless advocate for women’s rights throughout her life.
Madame C.J. Walker (1867-1919)
Madam C.J. Walker shattered barriers by becoming America’s first self-made female millionaire. Born to enslaved parents, she co-founded a wildly successful hair care company for African-American women with her husband. Her business wasn't just about products; it was about economic opportunity.
She built a company that employed 40,000 black women and men across the US, Central America, and the Caribbean. Because Jim Crow laws had denied her an education as a child, she was passionate about giving back. She donated most of her wealth to charities, heavily supporting the Booker T. Washington Tuskegee Institute, the Palmer Memorial Institute in North Carolina, and the Daytona Normal and Industrial Institute in Florida.
Dr. Janet Yellen (1946-Present)
When it comes to shaping national economic policy, Dr. Janet Yellen stands in a league of her own. She is the first and only woman to hold each of the top economic positions in the federal government. Her resume includes serving as chair of the Council of Economic Advisors under Clinton, chair of the Board of Governors for the US Federal Reserve under Obama, and US treasury secretary under Biden.
Her leadership has been widely recognized by her peers. When she stepped down from the Fed, a Wall Street Journal survey found that 60% of economists, across both political parties, gave her an "A" rating. From setting monetary policy to managing public debt, she has been a critical part of managing our national financial infrastructure.
Victoria Woodhull (1838-1927) and Tennessee Claflin (1845-1923)
These two sisters rose from poverty and minimal schooling to become powerhouses in the male-dominated world of finance. Together, they founded the nation’s first female-owned brokerage. They bought and sold stocks and financially advised wealthy clients, including Cornelius Vanderbilt, making enough money to put most of their counterparts to shame.
Their ambition extended far beyond finance. They were active in the suffrage movement, and Victoria Woodhull became the first woman to run for president, fifty years before she could legally vote for herself. Victoria was also the first woman to own a newspaper and the first to address a committee in front of Congress. Their efforts helped pave the way for the 19th amendment in 1920.
Abigail Adams (1744-1818)
While mostly remembered as the wife of President John Adams and a champion of women's rights, Abigail Adams was also America’s first documented female investor. During the Revolutionary War and her husband's presidency, she managed the family’s finances and investments.
She had a sharp eye for opportunity. Ignoring her husband’s advice to invest in farmland, she initially invested in government bonds and made a fortune. She famously admonished her husband to "remember the ladies" in legislation, consistently advocating for women's education and opposing slavery.
Hetty Green (1834-1916)
Hetty Green proved that financial literacy can start young. As a child, she read financial newspapers to her father, which prepared her to manage the family fortune she later inherited. She was incredibly successful, growing her $7 million inheritance into over $200 million by the time of her death. That’s over $17 billion in today’s dollars.
Although she was nicknamed the "Witch of Wall Street" for her frugal lifestyle and simple dress, her financial power was undeniable. In 1898, when New York City was broke, she loaned the city $1 million. That loan is equal to $36 million in 2023 dollars.
Rosemary McFadden (1964-Present)
Rosemary McFadden broke the glass ceiling in the energy sector. Starting as a staff attorney at the New York Mercantile Exchange (NYMEX), she became the first woman to serve as president of any exchange, leading NYMEX from 1984 to 1989.
Her tenure was transformative. She introduced new option contracts for crude oil, heating oil, and gasoline, as well as propane futures. Under her leadership, the number of contracts traded jumped from five million to 34 million, growing NYMEX into the world’s largest energy exchange with global offices. Today, she continues her public service as the deputy mayor of Jersey City, New Jersey.
The Facet difference
At Facet, we believe that your money is a tool to help you live the life you want, just as these women used their resources to shape their lives and communities. We don't just hand you a static document and walk away. You’ll work with a team of CFP® professionals to build a dynamic roadmap that adapts as your life changes.
Our membership model is built to be fair and transparent. We charge a flat fee, which means we don't charge a percentage of your assets. This aligns our interests directly with yours. Our goal is to help you achieve financial wellness and self-fulfillment. Whether you're building your career, planning for retirement, or managing equity compensation, we're here to provide objective, fiduciary advice that puts your values first.
