Blakely was the recipient of Variety’s innovation and leadership award at Friday’s Power of Women luncheon. The Spanx founder quipped, “I accept this award for women who continue to innovate — may they make the world a better place one butt at a time!” Blakely also told the story of how she turned a business model for women into $1 billion.

Variety’s Power of Women Luncheon Presented by Lifetime: Full Coverage