International Women’s Day is celebrated on 8 March, with the wider month recognised as Women’s History Month.
It’s a time to reflect on the significant progress made towards gender equality, to recognise those who helped drive that change, and to consider the disparities that remain and how to overcome them.
There is still much work to be done to bring about equality, but there has been significant progress over the last two centuries.
While this advancement is the result of countless individuals whose contributions often go unrecognised, certain figures have come to symbolise key turning points.
Read on to discover five women who helped break barriers and made financial history.
1. Madam C.J. Walker (1867 – 1919)
Madam C.J. Walker (born Sarah Breedlove) was an African American businesswoman and activist who became the first recorded female self-made millionaire in the US.
Born to formerly enslaved parents in 1867, Walker created a beauty business empire, with many of her products specifically designed for black women.
Once successful, Walker also became known for her philanthropy and activism. She made significant donations to organisations such as the NAACP, became a patron of the arts, and left the majority of her estate and future profits to charitable causes.
Walker’s legacy continues to this day, with several institutions and awards named in her memory and numerous creative works having been inspired by her life, including an entire Netflix series starring Octavia Spencer.
2. Victoria Woodhull (1838 – 1927)
Victoria Woodhull was an American leader of the women’s suffrage movement, the first woman to run for president of the US, and the first female stockbroker on Wall Street.
A veritable polymath, Woodhull was born into poverty and initially found success as a travelling healer before moving into finance and then founding a newspaper with her riches.
Alongside her work, Woodhull was also an activist for women’s and workers’ rights. Moreover, she was an early advocate of “free love”, which meant the freedom to marry, divorce, and have children without social restriction or government interference.
In short, Woodhull was ahead of her time by several decades and was a pioneer for women in politics, finance, and media.
3. Maggie Lena Walker (1864 – 1934)
Maggie Lena Walker was an American businesswoman, teacher, and community leader who became the first African American woman in the US to found and serve as president of a bank.
Born to formerly enslaved parents in Virginia, Walker dedicated much of her life to promoting economic independence and financial empowerment within black communities during a period of severe racial and gender discrimination.
In 1903, she founded the St. Luke Penny Savings Bank and encouraged working-class families to save money, buy homes, and build financial security.
Under her leadership, the bank helped expand financial services for people who were often excluded from mainstream banking institutions. Walker believed strongly that economic progress was a key pathway to social equality, and her work combined financial leadership with social activism.
Beyond banking, Walker was an influential figure in education, business, and civil rights. Her achievements not only broke barriers for women in finance but also demonstrated the role financial institutions can play in strengthening communities.
4. Muriel ‘Mickie’ Siebert (1928 – 2013)
Muriel ‘Mickie’ Siebert was an American financier who broke one of Wall Street’s most significant barriers when, in 1967, she became the first woman to gain membership of the New York Stock Exchange. In doing so, she joined 1,365 male members.
Siebert went on to found her own brokerage firm, and despite Woodhull owning a brokerage before her, she is sometimes known as the “First Woman of Finance”.
Beyond her business achievements, Siebert was a strong advocate for financial education and consumer protection and later served as the Superintendent of Banking for New York State.
In 1994, she was inducted into the National Women’s Hall of Fame, recognised for her role in reshaping opportunities for women in finance.
5. Elinor Ostrom (1933 – 2012)
Elinor Ostrom was an economist who became the first woman to receive the Nobel Prize in economics in 2009.
Her work fundamentally changed how analysts and policymakers understand shared resources and collective decision-making.
Her research showed that cooperation, trust, and locally developed rules could lead to outcomes that were both economically efficient and environmentally sustainable.
Ostrom’s work reshaped thinking across economics, public policy, and environmental management, and highlighted the importance of human behaviour and institutions in financial and economic systems.
Her legacy continues to influence debates around sustainability, finance, and management worldwide.
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Please note
This article is for general information only and does not constitute advice. The information is aimed at individuals only.
