Francoise Bettencourt Meyers: World’s First Woman to Surpass $100 Billion Fortune

Francoise Bettencourt Meyers: World's First Woman to Surpass $100 Billion Fortune

VoM News Desk | December 29, 2023 | 12:13 PM IST | Featured Edition, World | Follow on Google News

Francoise Bettencourt Meyers: World’s First Woman to Surpass $100 Billion Fortune /Bloomberg

Francoise Bettencourt Meyers: World’s First Woman to Surpass $100 Billion Fortune

Francoise Bettencourt Meyers, at 70 years old, has achieved a historic milestone as the first woman to amass a personal fortune exceeding $100 billion.

This achievement symbolizes a significant triumph not only for the heiress but also for the thriving fashion and cosmetics industries in France.

Her wealth surged to $100.1 billion according to the Bloomberg Billionaires Index, primarily propelled by the soaring shares of L’Oreal SA, the renowned beauty products empire established by her grandfather.

This upsurge has positioned her as the world’s 12th-richest individual, trailing closely behind Mexico’s Carlos Slim.

However, despite her remarkable success, Bettencourt Meyers’ fortune still falls short of her French compatriot Bernard Arnault, founder of LVMH Moet Hennessy Louis Vuitton SE, who ranks second globally with a staggering $179 billion.

France’s expansion in the luxury retail sector has fostered the rise of several other immensely wealthy families, including those behind Hermes International SCA and Chanel.

Bettencourt Meyers, known for her reclusive nature, serves as the vice-chair of the board of L’Oreal, a colossal company valued at $268 billion in which her family holds the largest single stake of nearly 35%. Her sons, Jean-Victor Meyers and Nicolas Meyers, also hold positions as directors within the company.

Following her mother Liliane Bettencourt’s passing in 2017, Bettencourt Meyers inherited substantial wealth. The inheritance concluded a complex period marked by familial disputes, a political scandal, and legal battles concerning her mother’s management of the family’s wealth.

While L’Oreal faced challenges during the pandemic due to reduced makeup usage during lockdowns, the company swiftly rebounded as consumers indulged in luxury items,

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