Françoise Bettencourt becomes first woman to achieve $100bn fortune

PARIS: Françoise Bettencourt Meyers, heiress to the L’Oréal empire, has made history by becoming the first woman to accumulate a fortune exceeding $100 billion, as indicated by a global ranking of the wealthiest individuals.

The renowned French beauty company, established by her grandfather, is witnessing a remarkable surge in stock market performance, with L’Oréal shares reaching an all-time high in Paris.

At the age of 70, Meyers’ net worth surpassed the $100 billion mark on the Bloomberg Billionaires Index, positioning her as the 12th richest person globally.

While she achieves this milestone, she remains behind Bernard Arnault, her French counterpart and founder of LVMH, the world’s largest luxury group, boasting a net worth of $179 billion.

L’Oréal, experiencing a sales rebound post-pandemic as makeup usage declined during lockdowns, is thriving under her leadership as the vice-chairperson of the board. The Bettencourt family, holding a substantial 35% stake, stands as the largest shareholder in the company.

Following the passing of her mother, Liliane Bettencourt, in 2017, Françoise assumed the role of the reigning heiress. Liliane, once recognised as France’s wealthiest individual, had a complex relationship with her daughter, marked by public disputes and legal battles over her mental state. A French court in 2011 determined Liliane had a form of dementia, granting Françoise control over her wealth.

Known for prioritising privacy over social events, Françoise Bettencourt Meyers spends much of her time immersed in family life.

A talented pianist, she devotes several hours a day to playing, and she has authored two books—an extensive study of the Bible and a genealogy of the Greek gods, reflecting her intellectual pursuits.