California is on the brink of a transformative moment for women’s economic empowerment. First Partner Jennifer Siebel Newsom recently launched the California Women’s Wealth Advisory Council, a groundbreaking initiative aimed at dismantling systemic barriers that have historically limited women’s financial opportunities.

With an estimated $84 trillion set to change hands over the next two decades, this wealth transfer represents a critical moment for reimagining economic inclusion. The council brings together leaders in finance, venture capital, and government to address chronic financial inequities that have kept women from fully participating in California’s innovation economy.

Currently, women receive only a fraction of venture funding and remain dramatically underrepresented in asset management and business leadership. The advisory council aims to change this narrative by designing more inclusive financial systems from the ground up.

Key strategies include expanding access to capital for women entrepreneurs, promoting equitable hiring and promotion practices, and increasing financial literacy. In a significant step towards this goal, California will require financial literacy courses in high schools starting in 2027, ensuring future generations understand budgeting, investing, and personal finance.

Katherine Rice, Co-Chair of the council and Partner at GingerBread Capital, emphasized the importance of steering more capital into the hands of women founders who are driving innovation and creating economic opportunities for their communities.

This initiative builds on previous efforts like the California Equal Pay Pledge and the Board Culture Playbook, which have already seen hundreds of companies commit to more equitable practices. By addressing systemic barriers and creating new pathways for economic participation, California is positioning itself as a national leader in women’s economic empowerment.

As the largest wealth transfer in modern history approaches, the Women’s Wealth Advisory Council represents a pivotal moment for reimagining economic potential and creating more inclusive opportunities for women across the state.