Majors

Forbes List of Wealthiest Women Includes 2 from Jewelry

MajorsMay 18, 2017

Forbes List of Wealthiest Women Includes 2 from Jewelry

Alex & Ani founder Carolyn Rafaelian and Kendra Scott both are new to the Forbes list of the richest self-made women in America.

20170518_Carolyn-Kendra.jpg
Carolyn Rafaelian, the woman behind Alex & Ani, and Kendra Scott, who started her eponymous jewelry brand, made Forbes’ list of richest self-made women this year.

New York--Forbes has released its list of the richest self-made women in United States again, and this year’s list includes two women from the jewelry world.

Alex & Ani founder and CEO Carolyn Rafaelian is at No. 18 (with a net worth of $1 billion), while Kendra Scott, who started her eponymous brand in 2002, is listed at No. 36 (with a net worth of $500 million).

To compile the women’s net worth, Forbes said it valued private companies by talking to a variety of outside experts and comparing the companies with public competitors, and calculated the stakes in public companies using stock prices from April 28.

To be eligible for the list, women had to have “substantially made their own fortunes.”

In cases in which the women started businesses with, and still share with, their husbands, Forbes assigned them half of the combined wealth. For entertainers, the estimates are based on their net lifetime earnings. Real estate, art and other assets also were factored in where applicable.

The minimum net worth needed to make this year’s list was $260 million, an increase from $250 million in 2016.

Rafaelian was one of two billionaires added to the list in 2017 (the other was Eren Ozmen of aerospace and defense contractor Sierra Nevada Corp.) and was even featured on the cover of the Forbes issue featuring the list. The magazine’s story on the “bangle billionaire,” as they refer to her, also briefly touches on Rhode Island’s costume jewelry manufacturing history because Alex & Ani is based in Cranston. 

Scott also was new to the list this year.
 

At left, Alex & Ani founder and CEO Carolyn Rafaelian was featured on the cover of Forbes’ June 13 issue to honor her addition on its list of the richest self-made women. Top right is an Alex and Ani bangle and bottom right is a pair of earrings from Kendra Scott.
What’s interesting about the inclusion of Rafaelian and Scott on the list is that their brands were built on affordably priced jewelry.

The popular Alex and Ani sells bangles ranging from about $32 to $38 at retail, and while Kendra Scott does use real gemstones in some cases and also has a line of fine jewelry, her brand was built on her collection priced around $150 and below (and the popularity of its create-your-own-piece feature).

Overall, the list’s top five is (mostly) full of surprises.

At No. 1 is Marian

Ilitch, who founded Little Caesars Pizza with her husband, Mike. After his death in February, Ilitch is now the richest self-made woman in America with a net worth of $5.1 billion.

She’s followed by Diane Hendricks, co-founder and chairman of ABC Supply, one of the largest wholesale distributors of roofing, siding and windows in America ($4.9 billion); Judy Love, who opened and ran a chain of gas stations with her husband ($2.9 billion); Oprah Winfrey ($2.9 billion); and Doris Fisher, co-founder of fashion retailer Gap ($2.7 billion).

There are some others with ties to jewelry on the list, such as Meg Whitman, best known for growing eBay in her role as CEO, and designer Vera Wang, as well as some not-so-surprising celebrity entries like Madonna, Beyoncé and Taylor Swift.

There are 60 women on the list with a combined net worth of $61.5 billion, Forbes said, noting that 27 percent came from the fashion and retail space, while 18 percent are in tech and 17 percent in media.

The full list can be found on Forbes.com.
Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

Representatives of India’s Gem and Jewellery Export Promotion Council and Indian government leaders
Policies & IssuesSep 24, 2025
Tariffs Throw Diamond Trade Into Disarray

The 50 percent tariffs on diamonds shipped from India to the U.S. have pushed midstream manufacturers to the edge.

Father’s Day diamond advertisement that ran in India
SourcingSep 24, 2025
De Beers Adopts New Strategies to Drive Natural Diamond Demand in India

De Beers’ refreshed, multipronged approach, which includes generic promotions and retail partnerships, is delivering positive dividends.

Policies & IssuesSep 24, 2025
For Jewelry Manufacturers, Higher Tariffs Create Long-Term Worries

They are trying to balance the need to sustain well-established relationships with the pressure higher tariffs have put on margins.

reDollar-fine-jewelry-department.jpg
Brought to you by
reDollar.com Is Rolling Out the Next Level Jewelry, Diamond & Watch Consignment Program

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

Guest lecture for people with disabilities at the Jewelex factory
SourcingSep 24, 2025
A Helping Hand: An Effort to Boost Inclusivity in the Industry

Jewelry manufacturer Jewelex has partnered with JOSH, an industry training center, on a program for people with disabilities.

Weekly QuizSep 19, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Greenwich St. Jewelers Estate Capsule Campaign
CollectionsSep 24, 2025
Greenwich St. Jewelers Goes Back in Time With First Estate Collection

The collection includes pieces dating back to the Victorian and Art Deco periods as well as mid-century and late 20th-century designs.

Marcus ter Haar
Policies & IssuesSep 24, 2025
Diamonds Do Good Names Marcus ter Haar as President-Elect

He previously served as co-chair of the nonprofit’s beneficiary committee.

japac-btyb.png
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key Issues

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Jane Goodall Brilliant Earth campaign
CollectionsSep 24, 2025
Brilliant Earth’s New Jane Goodall Collection Calls for Peace

Its second collaboration with the conservationist features jewelry with dove and olive branch motifs.

SRK Kriam Pharma
SourcingSep 24, 2025
SRK Launches Kriam Pharma

The diamond manufacturer’s new company will provide accessible and affordable high-quality medicines across India.

Emmanuel Raheb, CEO of Smart Age Solutions and National Jeweler columnist
ColumnistsSep 23, 2025
Quiet Luxury: What Fall’s Top Trend Means for Jewelers

Emmanuel Raheb shares tips on how a jeweler’s showcases, marketing, and social media presence can whisper, instead of shout.

Super Smalls Super Book of Gems, Maria Dueñas Jacobs, and Bianca Gottesman
SourcingSep 23, 2025
Super Smalls’ New Book Introduces Kids to Gems, Fine Jewelry

The “Super Book of Gems” dives into the Mohs Hardness Scale, the Four C’s, and designs from jewelers like Cartier and Bulgari.

Monique Lhuillier fashion jewelry Kay
CollectionsSep 23, 2025
Monique Lhuillier Adds Fashion Jewelry to Kay Jewelers Line

The new lab-grown diamond jewelry offering is the latest expansion of the designer’s “Bliss” collection.

Rio Tinto tender
SourcingSep 22, 2025
Rio Tinto Announces Final ‘Beyond Rare’ Tender

The miner is honoring the end of an era with an offering of 52 lots from the now-closed Argyle and the soon-to-close Diavik mines.

Vibhor and Alor logos
MajorsSep 22, 2025
Jewelry Manufacturer Vibhor Acquires Alor

The California-based fine jewelry brand will retain its identity post-acquisition, with new collections launching next year.

Gurhan Crown Gold Aquamarine Peacock
CollectionsSep 22, 2025
Gurhan's Collection is an 'Untamed' Zoo

The “Untamed” collection centers on carved gemstone jewelry depicting a range of animals embodying one of the four elemental forces.

Community for Ethical Jewelry logo
Policies & IssuesSep 22, 2025
Ethical Metalsmiths Has a New Name

Founded in 2004, the organization is now called the Community for Ethical Jewelry.

Madison Keys
EditorsSep 19, 2025
These Female Athletes Had the Best Jewelry of the Summer

From Coco Gauff’s hoops to Madison Keys’ diamond medallion, these are Senior Editor Lenore Fedow’s standout jewelry looks of the season.

Vanessa Fernández Studio Curva Wrap Hoops
CollectionsSep 19, 2025
Piece of the Week: Vanessa Fernández Studio’s ‘Curva’ Wrap Hoops

The trendy earrings feature asymmetrical drops, one with a grossular garnet and the other with a diamond.

Graphic for A Step-by-Step Guide to Using TikTok and Instagram Reels webinar
Recorded WebinarsSep 19, 2025
Watch: A Step-by-Step Guide to Using TikTok and Instagram Reels

Four social media marketing experts discuss their go-to methods and favorite tools for making high-quality short-form video content.

agta-sb-0925.png
Supplier BulletinSep 18, 2025
Will Your Design Define 2026? Enter The Spectrum & Cutting Edge Awards

Sponsored by American Gem Trade Association

Stock image of a woman shopping online with credit card
SurveysSep 18, 2025
Deloitte Thinks the Holidays Will Be Merry, PwC Isn’t So Sure

In its holiday report, PwC said the season will be more like jazz—improvisational and less predictable—than an easy-to-follow melody.

Pandora distribution facility Maryland rendering
MajorsSep 18, 2025
Pandora to Open New Distribution Center in Maryland

The jewelry giant will relocate its existing facility to a larger space in Anne Arundel.

Garçon New York Campaign Imagery
CollectionsSep 18, 2025
Ashley Zhang Launches Garçon New York

The designer, who is the creative force behind her namesake brand, has now started a new mini line focusing on chains for fathers and sons.

Swiss Gemmological Institute SSEF
SourcingSep 18, 2025
SSEF Opens Applications for 2 Gemology Education Scholarships

The awards include tuition for a course at the Swiss lab, economy flights, and hotel accommodation.

Hill & Co. AI Strategy Graphic
TechnologySep 18, 2025
Hill & Co. Launches AI Strategy Program

The 21-day program was designed to help jewelry retailers identify opportunities and eliminate inefficiencies with AI.

Set of four Patek Philippe “Star Caliber 2000” pocket watches
AuctionsSep 17, 2025
Mythical Set of Patek Philippe Pocket Watches Expected to Sell for $10M+

A set of four Patek Philippe “Star Caliber 2000” pocket watches is part of Sotheby’s upcoming auction in Abu Dhabi.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy