Francoise Bettencourt Meyers has achieved the historic milestone of becoming the first woman to amass a $100 billion fortune. The heiress, deeply connected to France’s burgeoning fashion and cosmetics industries, saw her wealth soar to $100.1 billion, according to the Bloomberg Billionaires Index. This accomplishment coincided with a record-high surge in shares of L’Oréal SA, the beauty products empire founded by her grandfather, positioning the stock for its best year since 1998. Currently the 12th-richest person globally, she closely follows Mexico’s Carlos Slim.
While her fortune is a significant achievement, it remains overshadowed by French compatriot Bernard Arnault, the founder of LVMH Moet Hennessy Louis Vuitton SE, who holds the second spot in the global ranking with a staggering $179 billion. France’s dominance in luxury retail has led to the rise of other wealthy families, such as the owners of Hermes International SCA and the Wertheimer brothers, proprietors of Chanel.
At 70, the reclusive Bettencourt Meyers serves as the vice-chair of L’Oreal, a colossal company valued at $268 billion, where she and her family hold the largest single stake of nearly 35%. Her sons, Jean-Victor Meyers and Nicolas Meyers, are also directors. Founded in 1909 by her chemist grandfather, Eugene Schueller, L’Oreal has been managed by executives from outside the family for decades.
Bettencourt Meyers, a multi-talented individual, has authored two books—a comprehensive study of the Bible and a genealogy of the Greek gods. She is recognized for her dedication to playing the piano for hours daily.
While L’Oreal faced challenges during the pandemic due to reduced makeup use during lockdowns, the company experienced a swift recovery as consumers indulged in luxury items, leading to a 35% surge in shares this year. Consumer Edge Research analyst Brett Cooper predicts a further 12% rise in the company’s stock over the next year, citing its product and geographic diversity as resilient.
Beyond her role at L’Oreal, Bettencourt Meyers chairs her family’s holding company, Tethys, which controls the L’Oreal stake. Her husband, Jean-Pierre Meyers, serves as the chief executive. In 2016, the couple established Tethys Invest SAS, a subsidiary focusing on areas that do not compete with the main company.
