Forbes Daily: America’s Largest Digital Bank Faces Its 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........© Forbes
