Michelle ThompsonFrancoise Bettencourt Meyers, the L’Oreal heiress and the world’s wealthiest woman, has achieved the distinction of being the first woman to possess a fortune of $100 billion, as reported by Bloomberg.
According to the Bloomberg Billionaire’s Index, which tracks data as of 5 pm ET from the previous trading day, Bettencourt Meyers is ranked as the 12th richest individual, surpassing Mukesh Ambani and trailing Carlos Slim, who recently became the first person from Latin America to exceed the $100 billion mark.
L’Oreal’s stock has reached an all-time high, experiencing a 35% increase in value this year, as consumers continued to invest in luxury products throughout the pandemic.
As of 2022, Bettencourt Meyers and her family owned more than 34% of L’Oreal’s stock, according to information from the company.
Bettencourt Meyers is the sole child of Liliane Bettencourt, whose father, Eugène Schueller, founded the L’Oreal Group. She inherited her mother’s assets after Bettencourt’s passing in 2017. Bettencourt Meyers serves as the chairwoman of the family’s holding company, Tethys, and is the vice chairwoman of the board of directors of L’Oreal Group.
L’Oreal, the world’s largest cosmetics company, boasts an extensive portfolio of brands, including Lancome and Maybelline, and reported sales exceeding €38 billion ($42 billion) in 2022, according to company records.
Earlier in the year, L’Oreal made its largest brand acquisition to date, purchasing Australian brand Aesop in a $2.5 billion deal, surpassing its previous record of a $1.7 billion acquisition of YSL Beauté in 2008, according to data from Dealogic.
Despite her substantial wealth, Bettencourt Meyers’ fortune still falls short in comparison to Bernard Arnault, the chair of LVMH, the world’s leading luxury goods manufacturer. According to the index, he holds the position of the second-richest person globally, with a net worth of $179 billion.
