A historic milestone has been achieved as Francoise Bettencourt Meyers, the heiress to the L’Oreal empire, becomes the first woman to amass a fortune of $100 billion. This remarkable feat places her at the 12th position on the Bloomberg Billionaire’s Index, surpassing industry giants like Mukesh Ambani and Carlos Slim.
L’Oreal’s unprecedented success in the market can be attributed to its soaring stock prices, which have witnessed a remarkable 35% surge this year alone. Despite the challenges posed by the global pandemic, consumers continue to indulge in luxury beauty products, bolstering the company’s financial performance.
Currently, Bettencourt Meyers and her family hold a significant stake in L’Oreal, accounting for more than 34% of the company’s stock. She inherited this substantial fortune from her mother, Liliane Bettencourt, who was the daughter of L’Oreal’s founder, Eugène Schueller. As the chairwoman of the family’s holding company, Tethys, and the vice chairwoman of L’Oreal Group’s board of directors, Bettencourt Meyers plays a vital role in managing the family’s wealth and business interests.
The L’Oreal Group, the world’s largest cosmetics company, boasts an impressive portfolio of renowned brands, including Lancome and Maybelline. With sales of over €38 billion ($42 billion) in 2022, the company continues to expand its empire. Earlier this year, L’Oreal made headlines with its acquisition of Australian brand Aesop in a groundbreaking $2.5 billion deal, further solidifying its dominance in the beauty industry.
While Bettencourt Meyers’ net worth of $100 billion is undoubtedly substantial, it pales in comparison to Bernard Arnault, the chair of LVMH and the world’s largest maker of luxury goods. Arnault retains his position as the second-richest person globally, with a staggering net worth of $179 billion.
Francoise Bettencourt Meyers’ achievement symbolizes a transformative shift in wealth distribution, emphasizing the growing economic power and influence of women in the business world. As more women break through glass ceilings and conquer traditionally male-dominated industries, the face of the global billionaire landscape continues to evolve.