Alice Walton Just Became The World’s Wealthiest Woman. Plus: Is The Idea Of ‘Male Allies’ Holding Women Back?

This is this week’s ForbesWomen newsletter, which every Thursday brings news about the world’s top female entrepreneurs, leaders and investors straight to your inbox. Click here to get on the newsletter list!

You might know venture capitalist Nicole Wischoff from her viral social media posts—like the time when she posted about closing an investment with a founder while on her honeymoon (she was bored on a cathedral tour). But what is more important about her story is that she’s used to punching above her weight.

In the four years since she started investing, Wischoff has backed 40 companies. On social media, she counts nearly 90,000 followers on the site formerly known as Twitter and 40,000 on TikTok – the vast majority gained in recent years – who tune in for a mix of company-building and personal insights.

And now, as she exclusively tells my colleague Alex Konrad, she has raised $50 million for her third fund. The new dry powder triples Wischoff Ventures’ assets under management; her previous fund sizes were $5 million and $20 million. The new fund will look to invest $800,000 to $1.6 million in 30-plus startups seeking ownership of between about 7% and 10%.

“People ask, ‘how do you differentiate?’” Wischoff says. Her answer? “I’m willing to take the most risk.”

Cheers to that!

Maggie McGrath

Exclusive Forbes News: Alice Walton Just Became The World’s Wealthiest Woman

With Walmart stock at an all-time high, Alice Walton—the only daughter of the retail giant’s founder Sam Walton—just became the world’s wealthiest woman for the first time since May 2022. With an estimated $89.1 billion fortune, Walton, 74, overtook L’Oreal heiress Francoise Bettencourt Meyers of France, who briefly became the first female centibillionaire in June and is now worth an estimated $88.4 billion.

ICYMI: News Of The Week

Former Rep. Liz Cheney, R-Wyo., said Wednesday she will vote for Vice President Kamala Harris in the upcoming presidential election, doubling down on her public opposition of former President Donald Trump. Cheney said she “thought deeply” about her vote, noting her identity as a conservative and saying voters “do not have the luxury of writing in candidates’ names, particularly in swing states.”

For the past four years, Labor Day has marked not only the end of summer but the beginning of renewed seasonal efforts to get workers to return to physical offices. This year, however, the push is much more subdued.

Women will soon be able to use an easy, self-administered test to screen for cervical cancer: The FDA in May approved Roche Diagnostics’ human papillomavirus self-screening solution, called cobas HPV, and BD’s Onclarity HPV, which would allow women to swab themselves in privacy at a doctor’s office. Roche said in an email that it expects its self-collection test to be available this fall, while BD said Onclarity HPV should be rolling out as soon as this month.

Most designers are lucky if they can show at New York Fashion Week once per season. But Commando makes it down the runway at multiple shows every time, in a range of styles and aesthetics. How? Founder and CEO Kerry O’Brien recently spoke with Forbes contributor Celia Shatzman about the secrets to her success.

The Checklist

1. Maximize your impact in a hybrid job. If you’re only in the office a few days a week or month, it’s important to connect with your manager and colleagues in meaningful ways. Here’s how.

2. Carefully deliberate before downsizing. For some women, downsizing before retirement is the right financial move. However, it’s a huge decision that requires a lot of planning and includes a lot of factors—including lifestyle, family, and finances.

3. Shift your language. Instead of looking for “male allies,” should we instead be promoting the idea of “leadership allies”? Senior ForbesWomen contributor Shelley Zalis says yes, we should: “The phrase ‘male allies’ subtly reinforces the notion that women need men to succeed, perpetuating a narrative that suggests women are somehow lesser than or in need of external validation.” Read more about her argument here.

The Quiz

The two Americans who advanced to the U.S. Open women’s singles semifinals, Jessica Pegula and Emma Navarro, share something in common, what is it?

1. They attended the same high school
2. Their parents are billionaires
3. They’re the same age (30 years old)
4. This is their first Grand Slam competition

Check your answer.

Liked what you read? Click here to get on the newsletter list!