In today’s edition: Kamala’s new book, the tariff deluge, and a record for the Global 500.
– Record-setting. Fortune‘s Global 500, a ranking of the world’s largest companies, was published earlier this week. And it broke a record—women are running more Global 500 companies than ever before.
Of the 500 companies on the list, 33 have female CEOs this year. That’s up from 28 last year—but 33 is still only 6.6%. It’s far behind the Fortune 500, the ranking of America’s largest businesses, where women this year ran 55 businesses, or 11% of the companies on the list.
The companies on the Global 500 total $41.7 trillion in revenue, more than one-third of the world’s GDP. It’s a higher revenue bar for a company to make the list than on the Fortune 500—the smallest company on the Global 500 brings in $32.2 billion annually. On the Fortune 500, that cutoff was $7.4 billion this year. Women-led Fortune 500 companies are often smaller than the world’s giants—one reason the Global 500 lags behind the Fortune 500 in female leadership.
The highest-ranking woman-led Global 500 company this year is General Motors, led by CEO Mary Barra. (One reason she was No. 1 on our Most Powerful Women list earlier this year). GM is followed by Elevance Health, led by Gail Boudreaux; Jane Fraser’s Citigroup; and Sarah London’s Centene.
A handful of companies became women-led Global 500 businesses for the first time this year. Ding Xiangqun now runs the People’s Insurance Co. of China, the $86 billion-in-revenue state-owned insurer. Amanda Bardwell took over the $44 billion-in-revenue Australian supermarket chain Woolworths Group in September 2024. Emilia Esther Calleja Alor took over the Mexican utility CFE in October. Karin Rådström now leads Germany’s Daimler Truck Holding and Susan D. Morris is two months into running Albertsons.
Other notable female CEOs of non-U.S. Global 500 businesses include Sandy Ran Xu of JD.com; Magda Chambriad of Brazil’s Petrobras; and Catherine MacGregor of France’s Engie. And of course Accenture chief Julie Sweet (the company is incorporated in Ireland, and appears on the Global 500 rather than the Fortune 500). My colleague Lila MacLellan has a fantastic new story about the Accenture CEO out now alongside this list.
Emma Hinchliffe
emma.hinchliffe@fortune.com
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ALSO IN THE HEADLINES
– Price to pay. Trump unveiled his latest tariffs ahead of a deadline yesterday, with a universal tariff still at 10%. Mexico has a 90-day pause on any higher tariffs—and the administration compared Mexico to Canada, which was hit much harder. An official said that Canada hasn't “shown the same level of constructiveness that we’ve seen from the Mexican side.” The credit likely goes to Mexican President Claudia Sheinbaum, who has proved adept at working with the Trump administration. CNN
– Reading list. After announcing she won't run for governor of California, Kamala Harris revealed her upcoming book. 107 Days, set to publish in September, will be an account of the former vice president's shortest-in-history presidential campaign. CNN
– Beauty biz. Ulta Beauty, under CEO Kecia Steelman, is preparing to go global. Its expansion places it in greater competition with prestige beauty leader Sephora. Puck
– Across the aisle. Two senators are behind a rare, true bipartisan effort. Sen. Jeanne Shaeen (D-N.H.) and Sen. Lisa Murkowski (R-Alaska) introduced legislation that would provide $54.6 billion in aid to Ukraine over two years. New York Times
MOVERS AND SHAKERS
Skai Blue Media was acquired by Actum LLC; Skai Blue founder Rakia Reynolds will become a partner at the firm.
AI cybersecurity company Trellix hired Natalie Polson as chief revenue officer.
ON MY RADAR
My big beautiful sterilization The Cut
Former Netflix employee sues over wrongful termination, alleges discrimination and retaliation LA Times
American Eagle's male-geared Sydney Sweeney ads have Gen Z women scratching their heads Wall Street Journal
PARTING WORDS
“Before I did this, there were so many ‘Oh, now I’ve found what I’m meant to do!’ moments.”
—Rachel Accurso on her path to finding her calling as the children's performer Ms. Rachel
