Business magazine Forbes on 5 December announced its highly anticipated list of the world’s most powerful women for 2023, featuring notable figures from politics, finance, entertainment, and philanthropy. Topping the list is Ursula von der Leyen, President of the European Commission, reinforcing the prominent role of European leaders on the global stage.
Italy’s Prime Minister, Giorgi Meloni, secured an impressive fourth position on the list, marking her as one of the most influential women worldwide. Forbes attributed this recognition to Meloni’s significant impact in various spheres, including politics and governance. Meanwhile, India’s Finance Minister, Nirmala Sitharaman, claimed the 32nd spot, highlighting her formidable influence in the financial sector.
Forbes determined its Power List using four key metrics: money, media presence, impact, and spheres of influence. The metrics underscored the multifaceted nature of power and leadership in the contemporary world.
Following Ursula von der Leyen on the list were Christine Lagarde, President of the European Central Bank, and Kamala Harris, Vice President of the United States, occupying the second and third positions, respectively. The Forbes list reflects the diverse and dynamic contributions of women across different sectors.
Surprisingly, global pop sensation Taylor Swift made her debut on the list as the fifth most powerful woman in 2023. Known for her influence in the music industry and beyond, Swift’s recognition underlines the evolving definition of power in the modern era. She is the first entertainer to enter the top five list.
Philanthropist Melinda Gates, co-chair of the Bill & Melinda Gates Foundation, secured the tenth position on the list.
Giorgia Meloni
Italy’s Prime Minister Giorgia Meloni took office in October 2022 and became the first woman in history to hold the role. Meloni is also the president of Italy’s right-wing Brothers of Italy party. She assumed that office in March 2014.
“Yes to natural families, no to the LGBT lobby, yes to sexual identity, no to gender ideology,” she said in a June 2022 speech.
The president of Italy’s right-wing Brothers of Italy party since March 2014, Meloni’s role has been consequential in ensuring Italy’s exit from the Chinese expansionist project Belt and Road Initiative (BRI).
She has been unapologetic about saying “yes to natural families, no to the LGBT lobby, yes to sexual identity, no to gender ideology,” deeming the parenting of children by same-sex couples as unnatural.
But her most notable moment of political prominence has been a constitutional reform that she backed in November 2023 that would allow for the direct election of the prime minister. She called it an effort to reduce Italy’s political instability.
Nirmala Sitharaman
India’s Finance Minister Nirmala Sitharaman figuratively helms over the world’s fifth largest economy. Nirmala Sitharaman was appointed as India’s finance minister in May 2019, and is also the minister for corporate affairs. She is India’s first full-time female finance minister.
Following the death of former Foreign Minister Sushma Swaraj in 2019 and the reassignment of Union Minister Smriti Irani’s cabinet roles, Sitharaman emerged as the most senior female figure in Prime Minister Narendra Modi’s cabinet. Since assuming the role of Finance Minister in 2019, she has been a prominent member of the Rajya Sabha, the upper house of the Indian parliament.
Along with Nirmala Sitharaman, Roshni Nadar Malhotra (ranked 60), Soma Mondal (ranked 70), and Kiran Mazumdar-Shaw (ranked 76) are the other three Indian women in the World’s Most Powerful Women for 2023 list.
Roshni Nadar Malhotra, 42, is an Indian billionaire and philanthropist. She is the chairperson of HCL Technologies, making history as the first woman to lead a listed IT company in India. As the only child of HCL founder Shiv Nadar, she is recognised as the richest woman in India, according to the IIFL Wealth Hurun India Rich List (2019).
Soma Mondal, 60, is the current Chairperson of the Steel Authority of India, making history as the first woman in this role since January 2021. Ms Mondal’s career milestones include being the first woman Functional Director and Chairman at SAIL. Beyond her corporate achievements, she holds the position of Chairperson of SCOPE and was honoured as ‘CEO of the Year’ at the ETPrime Women Leadership Awards in 2023.
Kiran Mazumdar-Shaw, 70, is a prominent Indian billionaire entrepreneur. She founded and led Biocon Limited and Biocon Biologics Limited in Bangalore, India. Besides her role in the biotechnology companies, she was the former chairperson of the Indian Institute of Management, Bangalore.
