Françoise Bettencourt Meyers, who inherited the L’Oréal beauty empire, has made history by becoming the first woman to have a fortune surpassing $100 billion, according to a global ranking of the richest individuals. The well-known French cosmetics company, established by her grandfather, is enjoying a notable surge in its stock market performance, with L’Oréal shares reaching record highs in Paris.
At the age of 70, Meyers’ net worth has crossed the $100 billion mark, placing her as the 12th wealthiest person globally on the Bloomberg Billionaires Index. While this is a remarkable accomplishment, she still trails behind Bernard Arnault, another French tycoon and the founder of LVMH, the world’s leading luxury conglomerate, who boasts an estimated net worth of $179 billion.
Despite being in the shadow of Arnault, Meyers has played a significant role as the vice-chairperson of the board at L’Oréal. The company has experienced a robust recovery post-pandemic under her leadership, especially with the resurgence of makeup sales after a decline during lockdowns. The Bettencourt family, holding a substantial 35% stake, remains the largest shareholder in the company.
Meyers’ achievement is not only a personal milestone but also a symbol of the growing influence of women in the business world. Breaking the $100 billion barrier underscores her impact on the cosmetics industry and the global economy. Her success is also a testament to the resilience and adaptability of L’Oréal, navigating through challenging times and emerging stronger.
As the beauty industry continues to evolve, Meyers’ leadership and the success of L’Oréal emphasize the importance of innovation and responsiveness to changing market dynamics. The company’s ability to rebound post-pandemic highlights the enduring appeal of beauty products and the confidence investors have in the leadership and direction set by Françoise Bettencourt Meyers.
