L’Oréal heiress, Françoise Bettencourt Meyers, becomes first woman to have $100 bln fortune
Françoise Bettencourt Meyers (Getty Images)
Françoise Bettencourt Meyers, the L’Oréal heiress and entrepreneur, becomes the first woman to accumulate a wealth of $100 billion, according to a list of the richest people in the world, The Guardian and BBC report.
70-year-old Bettencourt Meyers crossed the number on the Bloomberg Billionaires Index, making her the 12th richest person in the world. It was driven by an increase in the stock value of the cosmetics empire founded by her grandfather, then inherited from her mother who held the title of the world’s wealthiest woman until her passing in 2017.
Françoise Bettencourt Meyers and ner mother in 2012 (BBC)
Bettencourt Meyers and her family hold the foremost position among L'Oréal shareholders, possessing a substantial stake of approximately 35%. Bettencourt Meyers herself is the vice-chairperson of the company's board.
History of the company
L’Oréal was founded in 1909 by Eugène Schueller, Bettencourt Meyers’s grandfather, originally focusing on manufacturing and marketing a hair dye he had created. The company has evolved into a global powerhouse valued at €241 billion ($266 billion) on the Paris stock exchange. It is based in Clichy, a suburb of north-western Paris, within the Hauts-de-Seine region.
Famous personalities such as Beyoncé, Cindy Crawford, and Pénelope Cruz have contributed to the L’Oréal reputation, promoting the cosmetics brand.
Other richest people on the list
Bettencourt Meyers is part of a global trend of billionaires experiencing substantial growth, despite the prevailing cost of living crisis affecting countries worldwide in 2023. Among the world’s 50 richest people, 12 saw a decrease in their wealth, while the majority witnessed an increase, not accounting for inflation. Within the top 500, a staggering 77% saw their wealth rise, with some of the unprecedented sums.
A global wealth is dominated mostly by male figures, with Elon Musk, the founder of Tesla and SpaceX, leading the list with a net worth of $232 billion.
