Plus, Why Betterment CEO Sarah Levy Isn’t Afraid Of Market Volatility |
Two weeks ago, I wrote here about some entrepreneurs who were already feeling the pinch of President Donald Trump’s tariffs. Today, I want to tell you about someone who saw the writing on the wall—and who has been spending the last several quarters preparing for the market volatility that has been unfolding all month.
Fawn Weaver founded Uncle Nearest Premium Whiskey to honor the formerly enslaved master distiller who taught Jack Daniel the secret to making great whiskey. She’s turned the company into the most successful Black-owned liquor empire, worth $1.1 billion, and she and I recently got to talk about her strategic approach in taking capital, why she’s expanding her company beyond whiskey—think vodka and cognac, the first two stops towards what Weaver envisions as a drinks conglomerate—and of course, tariffs.
Weaver told me that she was listening to what Trump said on the campaign trail and even in his first term in office and planned for 2025 based on those comments. “We should have taken [Trump] at his word: ‘I am going to come in here and disrupt everything,’” Weaver said of her entrepreneur peers. What this meant for her business: “From Q1 of 2024 to Q1 of 2025, we cut our expenses by 40%,” Weaver said, explaining that she also sought to ensure that the glass and cork she needed for Uncle Nearest’s products were in America—and that she had access to enough to cover the next two years.
She also said that when it came to forecasting Uncle Nearest’s 2025 revenue, she instructed her team to take a conservative approach: “When we forecasted for 2025, by October of last year, we had pulled out all numbers that were in relation to international sales. ALL revenue, because we didn’t anticipate any would come in. So for us, if we get international revenue this year, woo hoo, it’s a fun bonus.”
To see my full conversation with Fawn Weaver, click through here!
Cheers to that!
Maggie |
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| Since the longtime Viacom exec took the reins in 2020, digital investing firm Betterment’s been on a buying spree, acquiring four companies over the course of five years. Then the market crashed—but Sarah Levy’s approach to business strategy is the same as the advice her firm gives to customers. “By having a balanced portfolio, you weather the storm,” she says. |
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| ICYMI: Stories From The Week |
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When expectant fathers face hostility or subtle exclusion at work, the consequences can extend beyond their own careers: A new study finds that the more workplace discrimination an expectant father perceives and experiences, the more likely the mother is to exit the workforce or switch jobs.
Fewer women are adopting AI tools at work, even as generative AI products like ChatGPT are rapidly transforming how work gets done. The adoption gap may leave women behind, exacerbating the AI leadership crisis and limiting firms’ ability to fully leverage GenAI’s productivity potential.
A $5,000 “baby bonus” is one of several proposals the White House is reportedly considering amid declining birth rates in the U.S. as it looks to incentivize Americans to have more children. (It’s worth noting that this is a fraction of the $20,000 in baby-related expenses families pay, on average, during their child’s first year.)
Kim Ng made history in 2020 when she was named general manager of the Miami Marlins, becoming the first woman and first Asian-American GM in MLB history. Now, Ng has notched a new leadership role: she’s been tapped as the first commissioner of the Athletes Unlimited Softball League.
Pope Francis died earlier this week, at the age of 88. What does this have to do with ForbesWomen? As pontiff of a religion practiced by some 1.4 billion people around the world, Francis elevated more women to Vatican leadership than any of his predecessors. Whether this legacy continues with the next pope remains to be seen. As Massimo Faggioli, a professor of theology at Villanova University, told ForbesWomen editor Maggie McGrath in an interview this week, the role of women in the church is an important issue to the cardinals, but not the only factor they will consider when they go into the conclave. |
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 | 1. Stop decision fatigue from sabotaging your career. From budget approvals and hiring calls to strategy pivots and culture questions, leaders are expected to make high-stakes choices day after day. But what happens when your sharp decision-making starts to slip—not from lack of skill, but from sheer mental overload? |
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| | April is Financial Literacy Month, and in these uncertain economic times, it’s worth following a few key principles when it comes to estate planning. While intricacies like estate and gift taxes are typically only of concern to less than 1% of households, which of the following tips can help any family optimize how they pass on hard-earned wealth? | | A. | Avoid giving property that has lost value | | B. | Be cautious about giving property that has gained significant value | | C. | Give income-producing assets | | D. | All of the above |
| | Check if you got it right here. |
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