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'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

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'The golden years are not golden': Boomers are hoarding most of America's wealth and power because they're terrified of outliving their money

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Gen Zers are arriving to college unable to even read a sentence—professors warn it could lead to a generation of anxious and lonely graduates

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I've sold property on California's Central Coast for decades. The buyers chasing ranch and winery estates are after more than a lifestyle
NewslettersMPW Daily

Female founders jump into action to provide relief for Los Angeles wildfire victims

By
Emma Hinchliffe
Emma Hinchliffe
and
Nina Ajemian
Nina Ajemian
Down Arrow Button Icon
By
Emma Hinchliffe
Emma Hinchliffe
and
Nina Ajemian
Nina Ajemian
Down Arrow Button Icon
January 13, 2025, 8:26 AM ET
A firefighter watches the flames from the Palisades Fire burning homes on the Pacific Coast Highway
Female founders and business leaders are offering to help victims of the Los Angeles fires. Apu Gomes/Getty Images

Good morning! Foreign Affairs Minister Mélanie Joly is not running to be Canada’s next prime minister, DA Fani Willis appeals her disqualification from Trump election-interference case, and female founders offer aid to Los Angeles fire victims.

– How to help. After wildfires burned 62 square miles and 12,000 structures in southern California, killing at least 16 people and displacing thousands of families, people have jumped into action to help. That includes female founders and business leaders eager to offer their time, products, and services to people in need.

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This tragedy has impacted so many people, from the now-devastated historically Black community of Altadena—where Black families were able to buy homes amid housing discrimination elsewhere—to the families of the Pacific Palisades. In the Most Powerful Women universe, some familiar names were affected. Bozoma Saint John, the former Netflix, Uber, and Apple exec, shared that her home burned as part of the fires. Halogen Ventures general partner Jesse Draper has been documenting the devastation of her community in the Palisades; her firm’s office burned down. Molly Baz, the chef who recently launched a mayonnaise brand and was a voice for pregnant women after her ad campaign for lactation cookies was banned from Times Square, shared that her home is gone. Ali Wyatt, who cofounded the Female Founder Collective with Rebecca Minkoff, also lost her home to the fires.

More than 24,000 people have already applied for government assistance, according to FEMA. There are lots of questions surrounding insurance payouts, with many insurers having canceled policies in recent years.

Meanwhile, those on the ground in Los Angeles and elsewhere are trying to help. The formula brand Bobbie, led by CEO Laura Modi, is offering free baby formula to victims of the fires. Furniture brand Babyletto is providing free cribs. Pantry staples brand Brightland, led by CEO Aishwarya Iyer, is donating its products to anyone cooking for evacuees. The nonprofit Baby2Baby is distributing emergency supplies. Sita Chantramonklasri, the founder of the firm Siam Capital, has organized a donation drive in New York accepting donations through the end of day Monday; Evereden, which makes kids’ skincare, the men’s hygiene brand W, and Nadya Okamoto’s menstrual products brand August were among those to meaningfully contribute.

Big businesses, too, are offering their resources, including Airbnb’s offer of free temporary housing, Uber and Lyft’s free transporation, and Planet Fitness’s open-door policy. You can see more ways businesses are trying to help here and GoFundMe’s collection of families in need here—while goods can help people who lost everything, cash is often a more immediate need for families who don’t have a place to store replacements for their belongings. And, of course, thousands of people have lost homes and belongings that are irreplaceable.

“This is the house I wanted. The house I prayed for. The house I worked in blood, sweat and tears for…This is the house where I finally felt like I could choose to spend time…when I wanted to and how I wanted to,” Saint John wrote on Instagram last week. “This is an unimaginable loss. I grieve with the rest of Los Angeles as it burns.”

Emma Hinchliffe
emma.hinchliffe@fortune.com

The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.

ALSO IN THE HEADLINES

- More masculinity? Mark Zuckerberg said on Joe Rogan’s podcast that Meta and other companies are in need of more “masculine energy.” “Masculine energy I think is good, and obviously society has plenty of that, but I think that corporate culture was really trying to get away from it,” the Meta CEO said. Bloomberg

- Not in the running. Canada’s Foreign Affairs Minister Mélanie Joly will not run to be the next prime minister, following Justin Trudeau’s resignation announcement. Joly was considered a potential successor to lead the country’s Liberal Party, but said she is focusing on her current role: “The threat is now. I’m the foreign minister now.” Bloomberg

- Disqualification denial. Fulton County District Attorney Fani Willis is appealing the Georgia Supreme Court’s decision to disqualify her from the election-interference case against Donald Trump. Willis was removed from the case due to a conflict of interest; her appeal said there was no “existence of an actual conflict of interest” to warrant the decision. Axios

- Sky-high growth. With a new funding round led by Bain Capital nearing a close, Bluesky will be valued at around $700 million. The social media platform founded by Jay Graber has grown to 25.9 million users in less than a year since its launch. Business Insider

- Detained and released. María Corina Machado, Venezuela’s opposition leader, was briefly detained following her appearance last week at a protest in Caracas; after leaving the rally, she was “violently intercepted,” according to her representatives. Machado has since been released. The country’s interior minister called her detention “a lie.” Guardian

MOVERS AND SHAKERS

Hershey's CEO Michele Buck announced she will step down from her role in mid-2026. 

President of Peacock Kelly Campbell is leaving NBCUniversal; she joined the company in 2021.

Additional Lengths, a hair extension company, appointed Lisa Jackson as CEO. She was previously CCO of La Perla Beauty in the U.K.

Northwest Natural Gas Company, a subsidiary of energy, water, and wastewater services provider Northwest Natural Holding Company, named Kim Rush president. She was most recently the company’s SVP and COO.

BD, a medtech company, named Pamela Spikner SVP, chief accounting officer, and controller. Most recently, she was SVP and chief accounting officer at R1 RCM.

Welch's, a fruit-based food and beverage brand, appointed Christine Kwiat as chief research and development officer. Most recently, she was the company’s VP of transformational growth, corporate comms, and PR and social.

Synovus, a commercial and consumer bank, named Katie Webb chief consumer digital and client experience officer. Most recently, she was VP of digital product and experience at Aflac.

J.P. Morgan Wealth Management appointed Alison Morpurgo as general counsel. Most recently, she served as managing director and deputy general counsel at UBS.

ON MY RADAR

Hoda Kotb, American everywoman Washington Post

‘I’ve seen women suffer’: Malawi’s religious leaders fight for legal abortions Guardian

Alex Cooper’s the Unwell Network acquires podcasts ‘Going West,’ ‘Cheers!’ Hollywood Reporter

PARTING WORDS

“You show up every day, and you work. And win or lose, the emotions that come—you can’t fake that, either.”

— Gabby Thomas, Olympic track and field athlete, on the irreplaceability of hard work

This is the web version of MPW Daily, a daily newsletter for and about the world’s most powerful women. Sign up to get it delivered free to your inbox.
About the Authors
Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
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Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

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By Nina AjemianNewsletter Curation Fellow

Nina Ajemian is the newsletter curation fellow at Fortune and works on the Term Sheet and MPW Daily newsletters.

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