Francoise Bettencourt Meyers has achieved a groundbreaking milestone, becoming the first woman in history to possess a net worth surpassing $100 billion. Her ascent to this financial summit is attributed to the soaring performance of L’Oréal SA shares, the renowned beauty products company established by her grandfather.
As of Thursday, Bettencourt Meyers' wealth soared to $100.1 billion, as reported by the Bloomberg Billionaires Index. This remarkable feat coincided with L’Oréal SA's stocks reaching an all-time high, marking its most successful year since 1998. Currently ranked as the world's 12th richest individual, she closely trails Mexico’s Carlos Slim in wealth accumulation.
Despite this impressive achievement, Bettencourt Meyers' fortune remains notably less than that of Bernard Arnault, the founder of luxury giant LVMH Moet Hennessy Louis Vuitton SE, who stands second globally with a wealth of $179 billion. France, known for its burgeoning luxury retail sector, has seen the rise of other affluent families like those behind Hermes International SCA, holders of Europe's largest family fortune, and the owners of Chanel, the Wertheimer brothers.
Averse to the spotlight, the 70-year-old Bettencourt Meyers serves as the vice-chair of L’Oréal's board, a colossal company worth €241 billion ($268 billion) and in which her family holds the largest ownership stake of nearly 35%. Her sons, Jean-Victor Meyers and Nicolas Meyers, also serve as directors. Founded in 1909 by her grandfather Eugene Schueller, a chemist, the company initially focused on producing and selling a hair dye he had developed.
Bettencourt Meyers maintains a private lifestyle, opting out of the extravagant social scene often associated with the world's wealthy. She is recognized for her literary works, having authored a comprehensive five-volume study on the Bible and a genealogy book about the Greek gods. Additionally, she dedicates extensive time to playing the piano daily.
Following the passing of her mother, Liliane Bettencourt, in 2017, Bettencourt Meyers inherited her substantial wealth. The relationship between mother and daughter had been occasionally fraught, resulting in a legal dispute during the 2000s that evolved from a family disagreement into a political controversy concerning the management of the family's wealth. Recently, Netflix released a three-part documentary titled L’Affaire Bettencourt, delving into this saga, featuring a former French president and clandestine recordings made by a butler.
While L’Oréal experienced rapid growth in the decade before the pandemic, the health crisis impacted its performance due to reduced makeup usage during lockdowns. However, the company swiftly bounced back as consumers indulged in luxury items, driving shares up by 35% this year.
Not Ambani or Adani, This Indian Woman Leads in Earnings This Year
World's Top 10 Richest People as of December 15, 2023 - See name List
