In a historic feat, Francoise Bettencourt Meyers has etched her name in the annals of wealth history as the first woman to break the $100 billion net worth barrier. According to Bloomberg, the 70-year-old heiress has soared to become the world’s 12th-richest individual, propelled by the record-high shares of L’Oreal SA, the iconic beauty products empire founded by her grandfather, Eugene Schueller.
Bettencourt Meyers’ fortune reached a staggering $100.1 billion, placing her just behind Mexico’s Carlos Slim in the global rankings. Her substantial wealth is derived from her family’s nearly 35 per cent stake in L’Oreal, a company valued at around $268 billion. Serving as the vice-chair of the board, Bettencourt Meyers oversees the family’s legacy.
Despite her immense wealth, Bettencourt Meyers is known for maintaining a low profile. She leads a private life, focusing on her passion for playing the piano and authoring books, including a comprehensive five-volume study of the Bible and a genealogy of the Greek gods.
The heiress inherited her wealth in 2017 following the passing of her mother, Liliane Bettencourt, and subsequent legal battles. The family saga, including a political scandal and secret recordings made by a butler, is explored in the Netflix documentary series ‘L’Affaire Bettencourt,’ released last month.
L’Oreal faced challenges during the pandemic but swiftly rebounded as consumers returned to luxury items, boosting the company’s shares by 35 per cent this year. Bettencourt Meyers, as the chair of her family’s holding company, Tethys, oversees their L’Oreal stake, while her husband, Jean-Pierre Meyers, serves as the chief executive. Tethys Invest SAS, established in 2016, focuses on non-competing areas, making direct long-term investments in entrepreneurial projects, partly funded by L’Oreal dividends.
Despite this historic achievement, Bettencourt Meyers remains behind French tycoon Bernard Arnault, the founder of LVMH, who holds the second spot globally with $179 billion.
