On Saturday night, Ms. Money in the Bank, Naomi, interrupted a promo between Asuka and Jade Cargill to remind them both that no matter who won their match at Night of Champions, she would still hold all the power. After Cargill’s win over Asuka, she is now poised to make good on that threat. Naomi is the winner of Women’s Money in the Bank, and that gives her a contract she can cash in to challenge for any of the WWE titles at any time. The moment that Cargill takes on champion Iyo Sky, Naomi might strike.
With Naomi in the spotlight, it might be easy to assume that all the prior contract holders got the same treatment. That is not the case. The WWE has not always treated Women’s Money in the Bank this well. Even with such a short history, the event has been plagued by controversy and strange booking decisions.
While Money in the Bank has existed since 2005, it was only eight years ago in 2017 that a division for women to compete in was created. That is why there have only been nine women to ever win it, half the number that have won its male counterpart. Even just a glance over the statistics of this event is enough to raise some eyebrows.
The longest a single man and woman have held onto their contract is about the same; Carmella held it for 296 days between 2018 and 2019, and Damian Priest held onto it for 281 days between 2023 and 2024. Going beyond the record holders, however, it’s a different story. The next longest men’s runs are both close to Priest’s record, but the two next closest women’s runs are Tiffany Stratton at 181 days and Sky at 35 days. On average, men have held onto Money in the Bank for roughly 98 days, while women have held onto it for roughly 68 days.
Every time a woman has cashed in her Money in the Bank, she has won. Men who have cashed in have a success rate of 70 percent, which is still very high. With more time, the women’s success rate may begin to resemble that of the men’s.
Some of this can be chalked up to a small sample size. With only nine winners in its history, the statistics are always going to be skewed.
There are meaningful conclusions that can be drawn about how the WWE books its female stars from these numbers, like the unusually fast turnaround time. Of the eight who have cashed in their challenge, five of them did it within a day of winning. The average is held up almost entirely by Carmella’s run.
Carmella was the first woman to win Money in the Bank in 2017. In a baffling booking decision, James Ellsworth assisted her in the match, climbing up the ladder to throw the briefcase down to her. The optics of a man being the first to lay hands on the first-ever women’s Money in the Bank briefcase were so bad that the WWE eventually ordered a rematch after some controversy. Naomi, who was champion at the time, even commented on it, questioning if she would have to fight Carmella or Ellsworth. Carmella won again and held the contract for 287 days before cashing in to win against WWE Women’s SmackDown Champion Charlotte Flair.
Following Carmella, there was a streak of women holding the contract for a day or less. Alexa Bliss won in 2018 and cashed in to win against WWE Women’s Raw Champion Nia Jax. Bayley won in 2019 and cashed in to win against Flair, just like Carmella. Asuka won in 2020. The next night, WWE Raw Women’s Champion Becky Lynch announced that, due to being pregnant, she had forfeited the title before the ladder match, and it was placed in the briefcase. As a result, Asuka successfully won the title. Nikki A.S.H. won in 2021 and cashed in the very next night, again against Flair.
With that, Flair managed to lose her title to a cash-in three times in just 5 years.
In 2023, this streak was finally broken by Sky. She held the contract for 35 days before cashing in to beat WWE Women’s Champion Bianca Belair. Then in 2024, Stratton won and held the contract for 181 days before cashing in to take the title from Jax.
Naomi made history in 2025 as the first black woman to win Money in the Bank, and is already its fourth longest holder at 23 days. Assuming she holds onto it until SummerSlam, when Cargill and Sky will face off, she will pass Sky to have the third-longest time with the contract.
Considering her feud with Cargill and her threat in the promo before Night of Champions, this is almost too perfect an opportunity for Naomi to interfere. It could happen during the match itself, or even in the aftermath of a potential Cargill victory. Whatever happens, the only certain thing is that she is going to keep holding her power over the fans until she finally cashes in.
WWE’s decision-making for Women’s Money in the Bank has been questionable, to say the least. From having a man be the first to put his hands on the briefcase to having four years of winners cashing in after less than a day, the event and its winners have not been treated well. We have thankfully begun to see that improve in recent years, and Naomi has gotten the chance to shoot threatening promos like the one she did on Saturday.
Naomi’s run with the contract has been great so far. She has made the most of the time she has been given with the contract. Her promos have been electric, her Twitter posts have been great, and her established feud with Cargill is an interesting angle. If she can stick the landing, this might make for one of the best Women’s Money in the Bank runs of all time.
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