- In today’s CEO Daily: Diane Brady on the opportunities and challenges facing women in Saudi Arabia.
- The big story: Elon Musk reaffirms his commitment to Tesla.
- The markets: Trump tariffs hit Japan.
- Analyst notes from Oxford Economics and Pantheon.
- Plus: All the news and watercooler chat from Fortune.
Good morning again from Riyadh, where Goldman Sachs Wealth Management CIO Sharmin Mossavar-Rahmani said yesterday that she’s noticed emotions having an outsized impact on investment strategy, with a growing behavioral divide between Republicans and Democrats.
As Republicans invest, Democrats hold back—sometimes within the same family. Call your advisor.
There’s also an emotional component to the Fortune Most Powerful Women International Summit that wraps up here today. Change is coming fast and furious to the ancient culture of Saudi Arabia, and that’s unlocking opportunities and some challenges that few ever expected to see.
I’m meeting many women in leadership roles that didn’t exist a few years ago or were always held by men. They’re eager to find partners, role models and friends.
The speed has surprised Lubna Olayan, a 12-time MPW honoree who’s broken barriers throughout her career: “I truly wasn’t expecting that we would be where we are.”
H.E. Dr. Hala Al-Tuwaijri, the first woman to lead the Saudi Arabia Human Rights Commission, illuminated the importance of understanding cultural context. “We received a lot of harsh criticism on segregating schools but actually those of us who come from this part of the world know that if schools were mixed, many conservative families would not have sent their girls to school in the first place. Many of the educated women you see today, including myself, would not be sitting here because our families back then would not have accepted the fact that we’ll be sitting next to boys in high schools.”
That’s food for thought. So, too, is the interactive art installation at the summit. Designed by artist and entrepreneur Caroline Ghosn, who also created the Burning Man 2024 temple, it’s a prism on which attendees have written nuggets of wisdom.
Wisdom was certainly on display as Fortune editor in chief Alyson Shontell interviewed Julie Sweet, chair and CEO of Accenture and #2 on Fortune’s 2025 list of the 100 Most Powerful Women in Business. “When I joined Accenture in 2010 as the general counsel, I didn’t know what a CIO [chief information officer] was. I came from a law firm. We didn’t have such a thing. We didn’t use technology. I’m old enough to remember when we didn’t have the internet. I share with you where I was in 2010 because anyone can learn these skills. At 42, most of the skills that matter today I didn’t have. Fifteen years later, I have them.”
More news below.
Contact CEO Daily via Diane Brady at diane.brady@fortune.com
