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Photo courtesy of SHI

Twelve of the country's 100 most successful female entrepreneurs live in Texas this year, and eight of them call Austin home. So says Forbes in its 2023 list of America's Richest Self-Made Women, released June 1.

"Bolstered in part by a rebound in the stock market, [the richest 100 female entrepreneurs] are cumulatively worth a record $124 billion, up nearly 12 percent from a year ago," says Forbes.

To make the Forbes list, women had to garner wealth on their own, rather than by inheriting or winning it.Texas' wealthiest women have made their fortunes in fields ranging from home health care, insurance, and aviation logistics to jewelry design, dating apps, and running the show at SpaceX.

With an estimated net worth at $4.8 billion, Thai Lee, of Austin, remains at the top of the list in Texas, and ranks No. 5 nationally.

She falls behind only No. 1 Diane Hendricks of Wisconsin (co-founder of ABC Supply, $15 billion net worth); No. 2 Judy Loveof Oklahoma (chairman and CEO, Love's Travel Stops And Country Stores, $10.2 billion); No. 3 Judy Faulkner of Wisconsin (founder and CEO, Epic Systems, $7.4 billion); and No. 4 Lynda Resnick of California (co-founder and co-owner of Wonderful Company, $5.3 billion) among America's richest self-made women.

For some additional perspective, Oprah Winfrey lands at No. 13 on the list for 2023. The TV titan (and most famous woman on the planet) has an estimated net worth of $2.5 billion, Forbes says.

Austin's Lee, a native of Bangkok who holds an MBA from Harvard University, is founder, president, and CEO of SHI International Corp., a provider of IT products and services with a projected revenue of $14 billion in 2023. Fun fact: "Lee majored in both biology and economics," Forbes says, "in part because her English was less than perfect and she wanted to avoid writing and speaking in class."

The other seven Austin women on the list are:
  • Lisa Su, No. 34, Austin. Forbes pegs Su’s net worth at $740 million, tying her with April Anthony of Dallas. The native of Taiwan is president and CEO of Santa Clara, California-based semiconductor company Advanced Micro Devices.
  • Kendra Scott, No. 47, of Austin.Forbes says she has amassed a net worth of $550 million as founder of Kendra Scott LLC, which designs and sells jewelry in more than 100 stores (and is worth $360 million). The celebrity entrepreneur is also a judge on TV's Shark Tank.
  • Whitney Wolfe Herd, No. 52, of Austin. She is worth an estimated $510 million. Herd is co-founder and CEO of Bumble Inc., which operates two online dating apps: Bumble and Badoo. She owns a 17% stake in Bumble and became the youngest self-made woman billionaire after it went public in February 2021.
  • Paige Mycoskie, No. 73, of Austin. She is worth an estimated $380 million. Mycoskie created founded her 1970s-inspired California lifestyle brand, Aviator Nation, which took off during the pandemic and now has 16 retail locations across the U.S. If the name sounds familiar, that's because she's the sister of TOMS founder Blake Mycoskie, with whom she competed on TV's The Amazing Race.
  • Imam Abuzeid, No. 77, of Austin. Her net worth is estimated at $350 million. Abuzeid is the co-founder and CEO of Incredible Health, which she started in 2017 to help alleviate America's nursing shortage. Forbes describes it as "a souped-up version of LinkedIn for nurses." Abuzeid is one of only a handful of Black female founders to run a company valued at more than $1 billion, Forbes notes.
  • Julia Cheek, No. 92, of Austin. Her net worth is estimated at $260 million. Cheek founded at-home testing company Everly Health in 2015 "out of frustration at having to pay thousands for lab testing to diagnose issues related to vitamin imbalance," Forbes says. It got a Shark Tank deal with Lori Greiner and is now worth roughly $1.8 billion.
  • Belinda Johnson, No. 96, of Austin. She is worth an estimated $250 million. Johnson was Airbnb's first chief operating officer and led many of its legal disputes. She stepped down from that role in March 2020, Forbes says, and left the company's board in June 2023.

The remaining Texas women on the list include:

  • Gwynne Shotwell, No. 27, of Jonesboro (Coryell-Hamilton counties). Her net worth is estimated at $860 million. Shotwell is president and COO of Elon Musk's SpaceX. She manages the operations of the commercial space exploration company and owns an estimated stake of 1 percent, Forbes says.
  • Robyn Jones, No. 29, of Fort Worth. Her net worth is estimated at $830 million. Jones is founder of Westlake-based Goosehead Insurance Agency LLC. She started the property and casualty insurance agency in 2003 after being frustrated with her truck-driver husband's "road warrior lifestyle," Forbes says. He joined her in 2004 and they took the company public in 2018. It has nearly 1,000 franchised offices.
  • April Anthony, No. 34, of Dallas. Forbes puts her net worth at $740 million. She founded the Dallas-based home health and hospice division of Encompass Health Corp and sold it for $750 million to HealthSouth. In 2022, she was named CEO of VitalCaring, a home health and hospice care firm.
  • Kathleen Hildreth, No. 44, of Aubrey. Her net worth is estimated at $590 million. Hildreth is co-founder of M1 Support Services LP, an aviation logistics company based in Denton. A service-disabled Army veteran, she graduated from West Point in 1983 and was deployed all around the world as a helicopter pilot.
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Radio Coffee brings the brews to new shop and music venue in October

going live in the fall

When it comes to expanding the influence of coffee connoisseurs in Austin, there's room for everyone on the East Side.

One East Austin coffee shop just changed hands for a fancy rebrand, and another recently expanded out of the area into Buda. Cosmic Coffee, a South Austin staple, blew everyone out of the water with a gorgeous, sprawling industrial complex on East 4th Street, and now another neighboring coffee and beer combo is following suit.

Radio/East, a second location spun off from the original music-loving Radio Coffee & Beer, announced today that it will open its doors at 3504 Montopolis Drive in East Austin on Wednesday, October 18.

The new family- and dog-friendly space sprawls across two acres, which is divvied up between a 1200-square-foot indoor coffee shop, indoor and outdoor live music stages, and a food truck park. Guests will be able to order their favorite drinks from the indoor counter, or they can choose to order from either of the two outdoor windows that open to the grand shaded backyard. And we can't forget one of the more rare features: plenty of parking for customers.

Radio's founding father-son duo Jack and Greg Wilson brought on two new partners — Trey Hudson and Nine Mile Records owner Rick Pierik — in the hopes of developing and maintaining this new spot as a community-focused space, much like the beloved original.

“With the new space, we’ve been able to create a through line to the existing concept of Radio,” said Hudson in a release. “With Radio/East we tried to listen to what the Montopolis community needed and we hope that we can be as central to this neighborhood as we have been to the area around Menchaca.”

Pierik will be the driving force behind Radio/East's musical events. Local musicians and touring bands will all get their chance to take the stage with four nights of performances planned indoors and outdoors beginning on Thursdays.

With Austin's wide-ranging music taste, Pierik will seek to reflect the city's musical diversity with every show.

"Jack Wilson and I are looking to bring together diverse programing from every corner of the music industry, booking up-and-coming national and international acts alongside all of the amazing Austin talent we've known and admired for years," said Pierik. "We're especially committed to helping local artists develop their fanbases through quality concert experiences and eclectic bills."

A list of events following Radio/East's grand opening is as follows:

  • October 19 – Sunrosa with Guma and Feeling Small
  • October 20 – Redbud with Mockjaw, Tearjerk, and Creekbed Carter Hogan
  • October 21 – Peachfuzz 10th Anniversary Party featuring The Texas Gentleman, Brown Burlesque, Lady Dan, and a to-be-announced special guest
  • October 28 – First Annual Radio/East Chili Cook Off and the Austin Flea, featuring Mother Neff, The Push & Shove, and Sour Bridges
  • October 31 – A Rocky Horror Halloween featuring A Giant Dog with Trouble in the Streets
  • November 11 – A Free Lunch Benefit featuring Caroline Rose and BRUCE
  • November 17 – Money Chicha with The Tiarras

Tickets for the upcoming shows can be purchased online beginning Friday, September 29.

In addition to keeping Radio/East music-focused, visitors can expect to see some classic beverages on the menu, with a few new twists to keep customers coming back. The new location will have two tap towers with eight craft beer taps, four rotating specialty draft cocktails, and plenty of wine to go around.

Radio/EastGet a local favorite beer on draft, or try a new specialty draft cocktail.Photo by Renee Dominguez

Bar Manager Jacob Biggie has been hard at work to develop new creative cocktails for the new location, including Phantom Mood (Still Austin Gin, hibiscus, lime, and cucumber with soda) and Sensitive Artist (Senza Maeso hybrid spirit, Aperol, St. Germain, lime juice). Guests can also try the new seasonal non-alcoholic highball, dubbed the Chai-ball.

The lineup of food vendors at the new East Austin digs include Veracruz All Natural with its binge-worthy tacos; organic pizza slices from Side Eye Slice (a sister concept to Side Eye Pie); and Radio's own food truck – Shortwave Diner – offering classic American diner fare and comfort food such as smash burgers, fried chicken sandwiches, hot dogs, chicken and waffles, and more.

Following the grand opening at 7 am on October 18, Radio/East's operating hours will be 7 am to 1 am Monday through Saturday, and 7 am to 10 pm on Sundays.

Austin is No. 12 in the U.S. with the highest number of 'unretirees'

Office News

Many Austin seniors are still punching the clock well past retirement age. According to "Cities with the Most Working Seniors," a new employment study by business website ChamberofCommerce.org, more than a quarter of Austin seniors aged 65 and up are still employed, making it the No. 12 city in the U.S. with the most working seniors.

More than 25,400 Austin seniors aged 65 and up are employed out of a total 93,861, or 27.1 percent of the city's senior population.

The No. 1 city in the U.S. with hard-working oldsters is Alexandria, Virginia, located in the Washington, DC metropolitan area, where 36.8 percent of its seniors still employed. Coming in second was Tallahassee, Florida, with 30.9 percent. In third place was Dallas, with 30.3 percent of the senior population clocking in for work around the city.

To determine their ranking, the site examined the percentage of seniors aged 65 and over who were actively employed within the last 12 months, according to the U.S. Census Bureau. Their analysis included data from 170 of the nation’s most populous cities.

The report says the median household income of a senior citizen in Austin is $58,546, and hints at the rising cost of living coupled with personal extenuating circumstances leading to a new trend of "unretiring" seniors within the local workforce.

"Deciding when to retire is one of the most important financial and personal decisions that workers can make," the report's author said. "Before making the leap, make sure you have factored in your savings, social security benefits, spending habits, economic volatility, and how your social life will change after retirement."

Also in Central Texas, San Antonio ranked No. 82 overall with 22.1 percent of the senior population currently in the workforce. Although that seems like a smaller number of people, it's actually much larger than Austin, with 41,918 seniors toiling away out of a total 189,544.

San Antonio's relatively high percentage of working seniors might come as a surprise, considering the city was named one of the best cities for retirees earlier in 2023.

The top 10 U.S. cities with the most working seniors are:

  • No. 1 – Alexandria, Virginia
  • No. 2 – Tallahassee, Florida
  • No. 3 – Dallas, Texas
  • No. 4 – Irvine, California
  • No. 5 – Washington, D.C.
  • No. 6 – Plano, Texas
  • No. 7 – Anchorage, Alaska
  • No. 8 – Minneapolis, Minnesota
  • No. 9 – Overland Park, Kansas
  • No. 10 – Madison, Wisconsin

ChamberofCommerce.org is a digital site for small business owners and entrepreneurs. The full report and its methodology can be found on chamberofcommerce.org.

Online home searching platform Compass buys top Austin-based brokerage

real estate news

National residential real estate agency Compass has acquired Realty Austin and Realty San Antonio, in a move that will expand its position as the leading national firm and its growth in Texas by more than 600 agents.

Although the sale price was not disclosed in Compass' announcement, the local brokerages completed $5.24 billion sales just in 2022 alone.

Compass added that the Austin and San Antonio leadership will have direct oversight of daily operations as part of the terms of the acquisition. Realty Austin and Realty San Antonio co-founder Yvette Flores maintains that she and her leadership team will strive for a "seamless transition" into the national firm that respects the home-grown culture they have created.

Realty Austin was founded in 2004 by Flores and Jonathan Boatwright, and has grown through the years to become one of the most innovative brokerages in Central Texas and beyond. The company expanded its operations to San Antonio in 2021.

Realty Austin and Realty San Antonio CEO Gabe Richter said in the release that Compass' leading-edge technology will help his agents foster greater successes, particularly in one booming Austin category: luxury real estate.

"Our agents have consistently set records with remarkable achievements," Richter said in the release. "Now, by aligning with Compass, they gain access to a transformative technology platform that enhances efficiency and elevated resources that empower them to secure even more luxury listings."

Compass was founded in 2012 as the largest real estate brokerage in the U.S., and preserves its stronghold as the No. 1 brokerage in Texas thanks to its milestone acquisition. The national brokerage has already surpassed $10 billion in sales in Texas in 2023, according to the release.

“With this acquisition, we've positioned ourselves as Austin's leading brokerage — our commitment to setting new standards and inspiring innovation for all our exceptional agents remains the top priority while honoring what Realty Austin and Realty San Antonio has built," said Compass Texas President Rachel Hocevar.