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Moore, 58, first rose to prominence in the 1980s with Chemical Bank, where she became the highest-paid woman in the banking industry. She is vice president of Rainwater, Inc., a private investment company founded by her husband, Richard Rainwater, and she was the first woman to be profiled on the cover of Fortune Magazine,

In 1998, Moore made an initial $25 million contribution to her alma mater, the University of South Carolina, which renamed its business school after her. She pledged an additional $45 million to the school in 2004. And last year, she pledged $5 million to the college for a new aerospace center. She also pledged $10 million to Clemson University in her father’s name.

“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,” Moore 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.

“Above all, Augusta National and the Masters Tournaments have always stood for excellence, and that is what is so important to me.”

Rice, 57, was the national security adviser under former President George W. Bush and became secretary of state in his second term. The first black woman to be a Stanford provost in 1993, she now is a professor of political economy at Stanford’s Graduate School of Business.

“I have visited Augusta National on several occasions and look forward to playing golf, renewing friendships and forming new ones through this very special opportunity,” Rice said in a statement released by the club. “I have long admired the important role Augusta National has played in the traditions and history of golf. I also have an immense respect for the Masters Tournament and its commitment to grow the game of golf, particularly with youth, here in the United States and throughout the world.”

Johnson regarded the membership debate as infringing on the rights of a private club, even though every April it hosts the Masters, the most popular of the four major championships, which brings in millions of dollars through television rights for the highest-rated telecast in golf.

In a 2002 interview with the AP, Johnson said the all-male nature of the club was important because of four annual parties for members only, instead of who gets to enjoy one of the most famous golf courses in the world.

“Our club has enjoyed a camaraderie and a closeness that’s served us well for so long, that it makes it difficult for us to consider change,” he said. “A woman may be a member of this club one day, but that is out in the future.”

The membership issue might now shift across the Atlantic to the British Open, which returns in 2013 to all-male Muirfield Golf Club.

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Associated Press writer Kate Brumback in Augusta, Ga., contributed to this report.