At 52, Joan Payden took a huge risk by quitting her job and cashing in her 401(k) to start her own money management firm. Now, after four decades of dedication and hard work, she has built Payden & Rygel into one of the largest private money managers in the country, with $162 billion in assets under management. Despite her success, Payden remains humble and shuns the spotlight, preferring to focus on her work rather than seeking recognition.
Payden’s journey to success was not without its challenges. As a woman in a male-dominated industry, she faced discrimination and obstacles along the way. Despite this, she persevered and eventually became the first female partner at Scudder, Stevens and Clark, a prestigious investment firm. However, Payden later realized that the promotion should’ve happened much sooner, as she was initially not elected due to her gender and lack of participation in company golf outings.
Throughout her career, Payden has focused on building a strong foundation for her firm, which specializes in fixed income and global markets. Despite facing stiff competition from larger firms, Payden & Rygel has seen significant growth in recent years, doubling its assets under management and earning Payden a spot on Forbes’ list of successful self-made women entrepreneurs. Her estimated net worth of $700 million largely comes from her controlling stake in the firm, along with other assets and investments.
In addition to her success in the finance industry, Payden has also made a significant impact in the field of education and philanthropy. She has been a dedicated supporter of Trinity University, her alma mater, funding the construction of the Payden Academic Center and helping to transform the school to serve a more diverse student population. Payden’s passion for education and commitment to philanthropy have led her to donate to multiple schools and causes, making a lasting impact on the communities she supports.
Despite her wealth and success, Payden remains focused on giving back and making a difference in the world. With no direct family, she plans to leave a significant portion of her fortune to charity, ensuring that her legacy of passion and commitment continues long after she is gone. Through her dedication to her work, her philanthropic efforts, and her commitment to education, Joan Payden has left a lasting impact on those around her and continues to inspire others to follow their dreams and make a difference in the world.
