Empowering Women in the Business World: Katharine Graham: First Female CEO on Fortune 500 List

Katherine Graham was the first woman whose company made it to the Fortune 500 list in 1972. She was the CEO of the Washington Post at the time. This is a story of how her courageous decisions propelled her newspaper company to national recognition.
Katharine Graham was born on June 16, 1917 in New York. The Washington Post came into her life when her father purchased the company for $875,000 in 1933. Katharine was always intrigued by publishing from a young age. She was part of the student newspaper at her school. After graduating, she went back to work at the Washington Post as an editor.

Katharine married Philip Graham in 1940. A few years later, he joined the military during WWII. After the war, her husband became the president of the Washington Post. He led the company to financial success, but he struggled with his mental health. In 1962, Katharine discovered her husband was having an affair. In 1963, he committed suicide. Katharine took over the company, and hired her choice of journalists to improve the newspaper content. Katharine was used to being the only female in meetings.

One of the hardest decisions she would make in her career is whether to report on the Pentagon papers. These are classified documents about U.S. military involvement with Vietnam. The report claims the presidential administration was more involved in instigating the war than they claimed. The New York Times had already been prohibited to report on it by the U.S. Department of Justice. The Washington Post decides to take charge of the story, despite facing legal and financial repercussions if they published the documents. The Washington Post fought alongside the New York Times in court to defend the freedom of the press. They eventually won the court case for permission to publish.

Another story that propelled the Washington Post to a prominent level is when they reported on the Watergate Scandal. Two reporters from the Post discovered president Nixon’s administration to be involved in corrupt activities. Eventually, the coverage led to the president’s resignation.

Katharine Graham led the Washington Post revenues to the billion mark. Stock prices rose significantly as well. She has received countless awards including a Pulitzer Prize, the Greatest Public Service by a Private Citizen award, and an Excellence in Journalism award. A movie was also made about her career in 2017. The movie is called The Post, and stars Meryl Streep and Tom Hanks.

Katharine Graham, unfortunately, passed away in Idaho in 2001. She overcame many obstacles throughout her life and paved the way for female CEOs. She proved that anything is possible, as long as you put your mind to it.