Paris, France (December 29, 2023) – Francoise Bettencourt Meyers, the heiress to the L’Oreal beauty empire, has crossed a historic threshold, becoming the first woman to amass a fortune exceeding $100 billion. This landmark achievement coincides with a record-breaking year for L’Oreal shares, further cementing the company’s dominance in the global cosmetics industry.
The news comes as L’Oreal SA stock hit an all-time high, solidifying a remarkable year for the beauty giant. The company, founded by Bettencourt Meyers’ grandfather in 1909, is expected to see its best annual performance since 1998, largely fueled by savvy marketing strategies and continued demand for its diverse range of products.
Bettencourt Meyers, 70, inherited her L’Oreal stake on the passing of her mother, Liliane Bettencourt, in 2017. Since then, she has quietly but strategically guided the company’s direction, holding the position of vice chair on the board. While shunning the spotlight, she has played a pivotal role in L’Oreal’s expansion and success.
This financial milestone catapults Bettencourt Meyers to 12th place on the Bloomberg Billionaires Index, just behind Mexican tycoon Carlos Slim. Her $100.1 billion fortune surpasses other prominent female billionaires like MacKenzie Scott and Julia Koch, marking a significant moment for gender equality in the world of extreme wealth.
Beyond her role at L’Oreal, Bettencourt Meyers is also a known philanthropist, spearheading the Bettencourt Schueller Foundation which champions science and arts in France. Her quiet demeanor and dedication to social causes stand in stark contrast to the flamboyant lifestyles often associated with billionaires.
Bettencourt Meyers’ achievement stands as a testament to both the enduring legacy of L’Oreal and the increasing prominence of women in the upper echelons of global finance. This historic crossing of the $100 billion mark sends a powerful message, signifying that female entrepreneurs and inheritors are shaping the future of wealth and influence in the world.
