In a historic achievement, Francoise Bettencourt Meyers has become the first woman to accumulate a staggering fortune of $100 billion, securing her position as the world’s 12th-richest individual, according to Bloomberg. The heiress’s wealth reached $100.1 billion, driven by the record-high shares of L’Oreal SA, the renowned beauty products empire founded by her grandfather, Eugene Schueller. Bettencourt Meyers, aged 70, serves as the vice-chair of the board of L’Oreal, a company valued at approximately $268 billion, where her family holds nearly 35 per cent of the shares. Her sons, Jean-Victor Meyers and Nicolas Meyers, also serve as directors in the company.
Despite her immense wealth, Bettencourt Meyers maintains a low profile, choosing a private life focused on her passion for playing the piano and writing books, including a five-volume study of the Bible and a genealogy of the Greek gods.
The milestone places Bettencourt Meyers just behind Mexico’s Carlos Slim in the global ranking. However, her wealth remains significantly less than that of French tycoon Bernard Arnault, the founder of luxury goods giant LVMH, who holds the second spot globally with $179 billion. France’s growing dominance in luxury retail has led to the emergence of several ultra-rich families, including those behind Hermes International SCA and the Wertheimer brothers, owners of Chanel.
Bettencourt Meyers inherited her wealth following the 2017 death of her mother, Liliane Bettencourt, and the subsequent legal battles that ensued. The documentary series, ‘L’Affaire Bettencourt,’ released by Netflix last month, explores the family saga, including a political scandal and secret recordings made by a butler.
L’Oreal, founded in 1909, faced challenges during the pandemic but rebounded swiftly as consumers returned to luxury items, boosting the company’s shares by 35 per cent this year. As the chair of her family’s holding company, Tethys, Bettencourt Meyers oversees the family’s L’Oreal stake, while her husband, Jean-Pierre Meyers, serves as the chief executive. The couple established Tethys Invest SAS in 2016, focusing on non-competing areas, making direct long-term investments in entrepreneurial projects. Recent acquisitions include stakes in French insurance broker April Group and investments in the fashion brand Sezane and the private hospital operator Elsan. Tethys Invest is partly funded by L’Oreal dividends.
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