Most Powerful People in Business list highlights how much progress women still need to make in achieving business leadership equality. Although 18 women appear on the list, this is just a fraction compared to their male counterparts, with men making up the vast majority of the ranking. This marks the first time Fortune has combined both men and women in their Most Powerful People list, contrasting with their separate Most Powerful Women (MPW) list.
Among the top women, GM CEO Mary Barra stands as the highest-ranked female at No. 9, followed by other influential women such as Julie Sweet (Accenture), Emma Walmsley (GSK), and Safra Catz (Oracle). The list reflects the business world’s current state, where women hold about 10% of CEO roles in Fortune 500 companies.
The methodology behind the Most Powerful People list emphasizes the influence of top executives (No. 1s) over second-in-command figures (No. 2s), which accounts for the absence of many powerful women from the list, like Ruth Porat (Alphabet) and Kathryn McLay (Walmart). While many women exert significant behind-the-scenes influence, the power dynamics in business are still skewed predominantly toward men.
This list reinforces the importance of highlighting women’s achievements, especially those who will continue to shape the future of business leadership. Despite the evident gender gap, Fortune’s coverage of both current and future women leaders remains crucial for fostering greater representation in the corporate world.