Sandra Bullock and Emma Grede Among Newcomers to America’s Richest Self-Made Women

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From a Venice Beach-inspired fashion entrepreneur to a celebrity actress to an AI whiz, meet the new members to join Forbes‘ list of the country’s most successful entrepreneurs, executives and artists.

Jhe spring 2022 stock market rout caused real repercussions but fortunately did not hold back a crop of successful female entrepreneurs, executives and artists. Seven newcomers joined Forbes‘2022 list of America’s richest self-made women, building fortunes in industries ranging from tech to fashion to banking.

The newcomers range in age from 27 to 80 and come from five states. Each is worth at least $215 million, the threshold to make this year’s Women’s 100 list; together, the newbies are worth $2.3 billion, Forbes estimates. Best known is superstar actress Sandra Bullock, who spent more than three decades in front of the camera in hits such as ‘Gravity’ and ‘The Proposal’, and at 57 is still earning millions for starring roles in movies.

Also new to the list is Betsy Cohen, 80, one of America’s first female bank CEOs, who has invested in several mergers and acquisitions of SPAC financial companies in recent years.

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Three newcomers have successfully exploited consumers stuck at home during the pandemic. Paige Mycoskie has found millions of customers for her Aviator Nation, an American-made clothing company known for selling retro rainbow-striped hoodies for $190 apiece. The brand exploded outfitting artists such as Jennifer Lawrence, Jay-Z, Robert Downey Jr. and Selena Gomez; sales grew from $70 million in 2020 to $110 million in 2021. Rachel Drori, who aims to change the frozen food industry through her plant-based food delivery company Daily Harvest, also got investments from several sports idols and a celebrity chef. Emma Grede, the first black woman investor on ABC shark tank show, was a founding partner and is the chief product officer of Skims, Kim Kardashian’s loungewear and loungewear company, among other businesses.

Gallery: Newcomers to Forbes’ 2022 list of America’s richest self-made women

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Two of the wealthiest newcomers to this year’s list have made their fortunes through technology – one who is deeply involved in the burgeoning field of artificial intelligence and the other whose business has taken off with the rise of personal computers. Lucy Guo, 27, co-founded Scale AI in 2016; venture capitalists valued the company at $7.3 billion in 2021. Guo left Scale in 2017 but retained a stake of just under 6%. Patricia Gallup co-founded computer retailer PC Connection in 1982, when most Americans didn’t own personal computers. She and her co-founder started with $8,000 in savings and grew it into a publicly traded company with $2.9 billion in sales last year.

Here are the newcomers to Forbes2022 list of America’s richest self-made women:

*Net worth is as of May 13, 2022.

Lucy Guo

Wealth: $440 million

Source: Artificial Intelligence

Guo got her start with a nearly 6% stake in artificial intelligence startup Scale AI, which was valued by private investors at $7.3 billion in 2021. She studied computer science at the University Carnegie Mellon but dropped out to become Thiel Fellow; while working on the Q&A website Quora, she met Alexandr Wang, with whom she co-founded Scale. The pair made the Forbes Under 30 list in 2018, the same year Guo left the company. She co-founded startup venture capital firm Backend Capital in 2019 and in April 2022 launched startup Moment, which she describes as a “web3 platform for creators.”

Patricia Gallup

Wealth: $360 million

Source: IT Reseller

In 1982, Gallup founded PC Connection, a computer retailer based in Merrimack, New Hampshire, with David Hall. The two backpackers had met while working as a support team on the Appalachian Trail. They used $8,000 in savings to launch the company, capturing the growing PC market. It went public in 1998 and had nearly $2.9 billion in revenue in 2021. Now called Connection, its customers include small businesses and public sector departments. She holds a 27% stake and is the chairwoman.

Emma Grede

Wealth: $360 million

Source: Clothing

Grede is CEO of Good American, the inclusive fashion brand she launched with Khloe Kardashian in 2016. She’s also co-founder of chemical-free cleaning brand Safely with No. 93 Kris Jenner and founding partner and chief product officer of Kim Kardashian’s No 16 Skims, of which Grede’s husband is CEO. Raised in east London by a single mother, Grede started a paper road at 12 and saved her pennies to buy fashion magazines. She founded marketing agency ITB Worldwide in 2008 and is the first black woman to serve as an investor on the popular ABC series. shark tank.

Rachel Drori

Net worth: $350 million

Source: Meal delivery service

The former Gilt Groupe marketing manager launched frozen meal delivery service Daily Harvest in 2015, funding it with $25,000 from her savings. She started making weekend smoothies in a rented commercial kitchen in New York’s Queens borough, paying her teenage nephews $20 a night to deliver them to Manhattan. Pregnant with her first child, she has pledged not to quit her job until orders from strangers outweigh purchases from friends and family. It took two months. In November, Daily Harvest, which now sells frozen bowls, parfaits, flatbreads and more, raised $100 million from private investors at a $1.1 billion valuation; Drori holds an estimated 35% stake. Famous investors include Gwyneth Paltrow, Serena Williams, snowboarder Shaun White and chef Bobby Flay.

Paige Mykoskie

Net worth: $350 million

Source: Clothing

While working at a surf shop in Venice Beach in 2007, Mycoskie founded Aviator Nation, the company selling expensive 1970s-inspired sweatshirts and branded smiley faces that took off during the pandemic. The company posted $110 million in sales last year and has expanded to 17 retail stores in the United States, including a fitness studio in Los Angeles. Mycoskie has never taken any outside investments for Aviator Nation and relies solely on growing bank lines of credit.

Betsy Cohen

Wealth: $230 million

Source: Bank, investments

A lawyer by training, Cohen founded Philadelphia-based Jefferson Bank in 1974, becoming one of the first female bank CEOs in America. She sold Jefferson in 1999, then founded Delaware-based bank The Bancorp, which she led as CEO until the end of 2014. More recently, she and her son Daniel completed SPAC mergers with seven companies , including financial advisory firm Perella Weinberg Partners, which began trading on the Nasdaq in June 2021.

Sandra Bullock

Net worth: $225 million

Source: Movies

Bullock owes his fortune to more than three decades on camera, appearing in blockbusters over the years such as The rapidity (1994), Gravity (2013), and Ocean 8 (2018). In youth-obsessed Hollywood, she defied the odds by landing some of her biggest roles — and biggest paychecks — after 50. (She’s now 57.) She reportedly landed $20 million for her latest film, this year. The lost city. She owns more than $60 million in real estate, including a townhouse in Manhattan, a mansion in Beverly Hills and an estate in Malibu.

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