L'Oréal heiress Francoise Bettencourt Meyers has become the first woman in the world with a net worth of $100 billion. She is currently positioned 12th on the Bloomberg Billionaires Index.
Francoise Bettencourt-Meyers becomes the world's first woman to amass a net worth of $100 billion. (Photo: AFP)
New Delhi,UPDATED: Dec 29, 2023 13:27 IST
L'Oréal heiress Francoise Bettencourt Meyers has become the first woman in the world to amass a staggering $100 billion fortune.
According to the Bloomberg Billionaires Index, her wealth reached $100.1 billion on Thursday, propelled by the success of L'Oreal SA, the beauty products empire founded by her grandfather.
She is currently positioned as the 12th richest person on the Bloomberg Billionaires Index, above the likes of Mukesh Ambani, Amancio Ortega, and Gautam Adani.
Who is Francoise Bettencourt Meyers?
Francoise Bettencourt Meyers, aged 70 and known for her reclusive lifestyle, holds the position of vice-chair on the board of L'Oréal, a global giant valued at $268 billion, where her family commands nearly 35 per cent of the stake, making them the single biggest shareholders.
Her sons, Jean-Victor Meyers and Nicolas Meyers, also serve as directors in the company.
The recent surge in Meyers' wealth is attributed to the record-high performance of L'Oreal's shares, positioning the stock for its best year since 1998.
However, her wealth remains significantly less than that of French counterpart Bernard Arnault, founder of LVMH Moet Hennessy Louis Vuitton SE, who holds the second spot globally with a net worth of $179 billion.
Meyers inherited her substantial wealth following the passing of her mother, Liliane Bettencourt, in 2017.
Despite a contentious relationship with her mother, Meyers emerged as the sole heiress and has since navigated her family's wealth, firmly holding the reins of L'Oréal.
L'Oréal, founded in 1909 by Bettencourt Meyers' chemist grandfather, Eugene Schueller, has witnessed both challenges and successes. The company experienced a setback during the pandemic, but a swift rebound followed as consumers indulged in luxury items, driving the stock up by 35 per cent this year.
Known for her privacy, Bettencourt Meyers devotes her time to pursuits such as playing the piano for hours daily. She is also an accomplished author, having written a five-volume study of the Bible and a genealogy of the Greek gods.
Apart from her role at L'Oréal, Bettencourt Meyers chairs her family's holding company, Tethys. Alongside her husband, Jean-Pierre Meyers, who serves as the CEO, they established Tethys Invest SAS in 2016, focusing on direct long-term investments in entrepreneurial projects that do not compete with L'Oréal.
Tethys Invest's recent ventures include acquiring a stake in French insurance broker April Group and investments in fashion brand Sezane and private hospital operator Elsan.
The firm is partly funded by L'Oréal dividends, reflecting Bettencourt Meyers' strategic approach to wealth management and investment. As she continues to make headlines as the first woman with a $100 billion net worth, Bettencourt Meyers stands as a trailblazer in the world of finance and business.
Published By:
Koustav Das
Published On:
Dec 29, 2023
English (US) ·