Good morning, Broadsheet readers! Walmart heiress Alice Walton takes L'Oréal heiress Françoise Bettencourt Meyers's spot as the richest woman in the world, the gender pay gap at large companies in Japan is not improving, and a Goldman Sachs exec is an innovator in sports. The Broadsheet will be off on Monday for Labor Day in the U.S.—we'll be back in your inbox on Tuesday.
- In the crowd. Much of the most exciting activity in sports right now is happening on the women's side, but they can't claim all the innovation. Consider Stacy Sonnenberg, a Goldman Sachs executive who has quietly revolutionized sports team's stadiums and revenue models across men's soccer, Major League Baseball, and the NFL.
Sonnenberg is Goldman's global head of sports finance, and my colleague Michael del Castillo explores her impact in a new feature for Fortune. In her role, she has financed projects from Yankee Stadium to an especially notable effort: the new stadium for FC Barcelona, a $5.6 billion franchise nevertheless troubled by mismanagement. The team is part-owned by 150,000 dues-paying fans who wouldn't approve a mortgage for a $1.6 billion expansion, worried that the stadium could close if it missed payments.
