Forbes Daily: Chime, America's Largest Digital Bank Faces, IPO Reality
America's most successful self-made women are richer than ever before.
The 100 entrepreneurs, executives and entertainers on Forbes' tenth annual ranking are worth a collective record of $155 billion. The list includes 38 billionaires, who made their fortunes through everything from cars to cosmetics to chardonnay.
The list is once again topped by billionaire Diane Hendricks, the 78-year-old chair and owner of roofing and building materials wholesaler ABC Supply. But it also features newcomers like the majority owner of the Washington Spirit Michele Kang, and musician and actor Selena Gomez.
And more than half of the women on the list saw their fortunes grow since last year.
Photo Illustration by Davide Bonaldo/SOPA Images/LightRocket via Getty Images
Chime, America's largest digital bank, is aiming for an IPO valuation of about $11 billion, a sharp drop from the $25 billion it fetched in a private fundraise in August 2021, near the peak of the fintech market bubble. But despite economic uncertainty, the 13-year-old bank is moving forward with its IPO plan, having grown its active customer base to 8.6 million by offering a no-fee checking account and debit card.
In its latest economic outlook report, the Organization for Economic Cooperation and Development—an intergovernmental group that includes 38 of the world's top economies—warned that global economic growth is set to face a significant slowdown due to increased uncertainty over President Donald Trump's tariffs. The OECD projects that global economic growth will drop from 3.3% in 2024 to 2.9% in 2025 and 2026, with the U.S. economy expected to be among the hardest hit.
Wall Street's top watchdog, the Financial Industry Regulatory Authority, scored a key victory as the Supreme Court declined to hear a penny stock broker's legal challenge to its constitutionality. But FINRA still faces a threat in a new bill in Congress that would move the self-regulatory body's key powers to the SEC.
Photo by Beata Zawrzel/NurPhoto via Getty Images
As Elon Musk still aims to make X an 'everything app,' he said this week he will start rolling out XChat, an encrypted messaging and calling platform that could be a competitor to WhatsApp. The update will expand the platform's direct messaging function, which Musk says will include encryption, file sharing, vanishing messages and audio or visual phone calls that can be made without a phone number.
Kristi Noem testified before a House committee in May about the Department of Homeland Security's budget request.
Homeland Security Secretary Kristi Noem often emphasizes her rough-and-tumble rural roots, but today she's worth about $5 million, Forbes estimates. Much of that is due to her husband Bryon's insurance business: Noem Insurance has generated $1.1 million in salary and profits for him over the past two years.
David Richardson, the acting head of FEMA, reportedly told staffers he was unaware that the U.S. had a hurricane season. While an agency spokesperson told various outlets the comments were made as a joke, they come as FEMA's workforce has been severely gutted by DOGE, with the USA Today reporting that about 2,000 of the agency's 6,100 full-time staff have been fired or resigned in recent months.
Skims cofounder Kim Kardashian, TV talk show queen Oprah Winfrey and pop star Beyoncé Knowles-Carter
Even celebrities are feeling the effects of the cooling economy. Forbes' new list of America's Richest Self-Made Women features 16 celebrities among its ranks, worth a combined $14.1 billion. But after years of booming entrepreneurship, the market is softening for celebrity-backed companies: Other than Selena Gomez, most of the stars' fortunes are little changed from a year ago.
The suspect in the attack on a Boulder, Colorado gathering in support of Israeli hostages in Gaza was charged with a federal hate crime Monday after telling authorities while in custody that he wanted to 'kill all Zionist people.' Mohamed Soliman threw two Molotov cocktails at the group gathered in front of the Boulder Courthouse on Sunday and yelled 'Free Palestine!' leaving eight injured, according to court documents.
Gun control laws in Maryland and Rhode Island will stay in place, the Supreme Court ruled, as it declined to take up challenges to the bans. Nine states have assault weapons bans in place, as gun control has become a hot topic at the Supreme Court.
Chris and Angie Long privately financed the Kansas City Current's $140 million CPKC Stadium
When CPKC Stadium, the new home of the National Women's Soccer League's Kansas City Current, opened in March 2024, it was the first venue in the world developed primarily for a professional women's sports franchise.
And while that milestone would be impressive enough on its own, the value that the 11,500-seat stadium has unlocked for the Current has been nothing short of transformative. The team, which previously played at Children's Mercy Park as a tenant under MLS's Sporting Kansas City, saw a 'more than $20 million revenue swing' in its first season at its new home, says Angie Long, who bought the franchise in 2020 with her husband Chris and privately financed the construction of the $140 million stadium.
By bolstering business lines such as premium seating and tapping into new streams, including concessions, naming rights and third-party events, the Current generated $36 million in revenue in 2024—the best mark in the NWSL and nearly quadruple the league's median of $9.5 million, according to Forbes estimates. The club is now worth an estimated $275 million, second only to $280 million Angel City FC, despite playing in the fourth-smallest market in the 14-team league.
The way the Longs see it, the growth has only just begun. The Current purposely held back in certain areas last season—limiting the number of non-NWSL events they hosted to keep the field pristine, for instance, and retaining some sponsorship assets until they had a better handle on what they were selling. With those guardrails now being lifted, the franchise is projecting $45 million in revenue in 2025.
'We're scratching the surface in every single way,' says Angie Long, a Kansas City native.
WHY IT MATTERS 'Most other NWSL clubs would face plenty of hurdles trying to replicate the Current's model, but everyone around the sport is paying close attention to the experiment unfolding in Kansas City, and as the league continues to expand beyond 14 teams, facilities are becoming a much more important part of bids by new host markets,' says Forbes staff writer Justin Birnbaum. 'Women's soccer remains a long way from catching up to established men's pro leagues, but the Current are blazing a trail toward billion-dollar team valuations—perhaps in the not-too-distant future.'
MORE The NWSL's Most Valuable Teams 2025
The buy now, pay later industry has exploded in recent years, but shares of Affirm Holdings have fallen in 2025. The default rate on such loans is rising, though industry executives say they're not worried:
13%: Affirm's stock losses so far this year
$560 billion: The size of the BNPL industry in 2025, according to one report
'A Band-Aid on top of their credit card debt': How a former Consumer Financial Protection Bureau official described Americans' use of buy now, pay later loans to the New York Times
If you've just found out you've been laid off, the next few days and weeks are critical. Don't panic apply just because you're anxious—it's better to identify a few employers you want to work for, connect with decision-makers at these companies and find the jobs for which they're hiring. And if you've been out of the job market for a number of years, consider rebranding yourself to highlight your most in-demand skills.
We're officially in hurricane season, but another natural phenomenon is also approaching U.S. skies. What is it?
A. The northern lights
B. Tornadoes
C. Saharan dust
D. Wildfire smoke
Check your answer.
Thanks for reading! This edition of Forbes Daily was edited by Sarah Whitmire and Chris Dobstaff.
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