The club, which hosts the Masters every year, has exclusively had only male members for its entire history, which dates back to 1932. Martha Burk of the National Council of Women's Organizations made headlines in 2002 when she unsuccessfully tried to get Augusta to change its ways.
While Rice is one of the most well-known women in the United States, the other new member doesn't share the same kind of notoriety.
Who is Darla Moore?
A South Carolina business woman, Moore became the highest-paid woman in the banking industry in the 1980's working for Chemical Bank. The 58-year-old is currently the vice president of the private investment company Rainwater, Inc. Her husband, Richard Rainwater, is the company's founder.
She graduated from the University of South Carolina in 1975, where she majored in political science. Moore got her MBA from George Washington University.
Moore has expressed her excitement to join the prestigious club.
"Augusta National has always captured my imagination, and is one of the most magically beautiful places anywhere in the world, as everyone gets to see during the Masters each April," she said. "I am fortunate to have many friends who are members at Augusta National, so to be asked to join them as a member represents a very happy and important occasion in my life.