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March 2, 2024

L’Oréal Heiress Bettencourt Meyers Becomes World’s First Woman With $100 Billion Fortune

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Dec 30, 2023

L’Oréal heiress Françoise Bettencourt Meyers has made history by becoming the world’s first woman to accumulate a fortune worth over $100 billion. The eye-watering net worth comes mainly from her stake in the iconic French beauty company L’Oréal, which was founded by her grandfather.

Family Inheritance Catapults Bettencourt Meyers To Record-Breaking Wealth

Bettencourt Meyers, 69, owns 33% of L’Oréal shares inherited from her late mother Liliane Bettencourt, who was the heiress of the company’s founder Eugène Schueller. Her fortune began ballooning this week as L’Oréal’s share price climbed to record highs.

On Thursday, L’Oréal’s share price rose 0.4% to €399.25 boosting the value of Bettencourt Meyers’ stake to $100.2 billion – making her the first woman in history to break the $100 billion threshold. Table below outlines the source of Bettencourt Meyer’s wealth:

Source of Wealth Estimated Value
33% stake in L’Oréal $100.2 billion
Cash and other investments $600 million
Total Net Worth Over $100 billion

The mother-of-two surpasses Alice Walton, an heir to the Walmart empire, who is worth around $58 billion, to claim the title of world’s wealthiest woman. Meanwhile, Bernard Arnault, the CEO of luxury giant LVMH, remains the richest person in the world with a fortune of $185 billion.

Notoriously Private Heiress Leads Reclusive Lifestyle

Despite being the richest woman alive, little is publicly known about Bettencourt Meyers who zealously guards her private life. The married mother lives in Neuilly-sur-Seine, an upscale Paris suburb, and is rarely seen at public events or society parties.

Described as shy, discreet and cultivated, Bettencourt Meyers fills her days writing and playing piano and has authored several books on Greek mythology and Jewish-Christian relations. Her circle of friends is small, consisting mainly of intellectuals.

The heiress has two sons Jean-Victor Meyers and Nicolas Meyers who she is grooming to take over her L’Oréal empire. Both sons hold board seats but keep similarly low profiles.

Philanthropy and L’Oréal Dominate Billionaire’s Priorities

While intensely private about her personal affairs, Bettencourt Meyers is committed to philanthropy. In 1987, she created the Bettencourt Schueller Foundation which supports scientific research and humanitarian projects.

Her main focus however remains L’Oréal – the family jewel built up by her grandfather and mother. Since the death of her mother in 2017, Bettencourt Meyers has served as chairwoman of the L’Oréal Foundation which owns 33% of the beauty giant. She plays an active role providing oversight and strategic guidance.

Forbes magazine estimates that dividends from her L’Oréal stake earns Bettencourt Meyers $13 million…a day! While she enjoys her wealth, the heir is however not one to splash funds on material luxuries like yachts or private jets. Her only known extravagance is a mansion located on the exclusive Avenue Montaigne in Paris.

Outlook: Bettencourt Meyers Wealth Set To Expand Further

While now the sole owner of the family fortune, Bettencourt Meyers’ road to becoming L’Oréal’s largest shareholder was not without family drama. Her father André Bettencourt disputed his daughter’s inheritance which resulted in a lengthy court case that was resolved in 2015.

With L’Oréal going from strength to strength under CEO Nicolas Hieronimus, analysts predict the cosmetics powerhouse will continue its hot streak driven by strong demand. This means Bettencourt Meyers’ net worth is likely to swell even higher in 2023, cementing her status as the wealthiest woman in the world for years to come.

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AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

To err is human, but AI does it too. Whilst factual data is used in the production of these articles, the content is written entirely by AI. Double check any facts you intend to rely on with another source.

By AiBot

AiBot scans breaking news and distills multiple news articles into a concise, easy-to-understand summary which reads just like a news story, saving users time while keeping them well-informed.

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