First woman with $100bn fortune: L’Oréal heiress Françoise Bettencourt Meyer
The matriarch of L’Oréal, Francoise Bettencourt Meyers, has surpassed all men in terms of wealth accumulation to reach $100 billion (£78.5 billion; €90.1 billion), according to a list of the world’s wealthiest individuals.
Her grandfather was the founder of the French cosmetics business, which is currently on the verge of achieving its best performance on the stock market in decades.
Thursday was the day that shares of L’Oréal reached a new all-time high in Paris. As a result of the epidemic, when people who were confined to their homes used fewer cosmetics, the company has seen a rise in sales.
Ms. Bettencourt Meyers, who is 70 years old, has surpassed the $100 billion mark in terms of her net worth, which has propelled her to the twelfth position on the Bloomberg Billionaires Index.
She is still a significant distance behind her French counterpart Bernard Arnault, who ranked second on the list, despite the fact that she has a net worth of $179 billion. Mr. Arnault is the founder of LVMH, the world’s greatest luxury company, where he oversees the management of a portfolio that includes illustrious brands such as Louis Vuitton and Fendi.
L’Oréal declined to comment in response to a request from the sources. Bettencourt Meyers serves as the organization’s vice-chairman of the board. She and her family possess an approximate 35% stake in L’Oréal, making them the company’s largest shareholders. She ascended to the throne of L’Oréal following the 2017 demise of her mother, Liliane Bettencourt.
Consistently ranked as the wealthiest individual in France, Liliane cultivated intimate connections with French authorities and relished the scrutiny of the media. Francoise, her only child, had filed claims against a socialite and photographer, stating that the latter was exploiting her mother’s mental frailty. In her later years, she was involved in a public fight with Francoise, who had levelled these allegations against the socialite and photographer.
The following is an excerpt from an interview that she gave to a television station: “My daughter could have waited patiently for my death rather than doing all in her power to hurry it.”
Francois was awarded authority over Liliane’s income and property after a French court determined in 2011 that she was suffering from a kind of dementia and granted him the ability to manage her finances. Another member of the family was the one who was accountable for ensuring that Liliane was in good physical health and overall wellness.
Rather than attending social events that are frequented by many of the wealthiest people in the globe, it is stated that Ms. Bettencourt Meyers prefers to maintain her privacy.
She has published two volumes, one of which is a five-volume study of the Bible, and the other is a genealogy of the Greek gods. Some people know that she plays the piano for several hours every day.
She truly resides within the confines of her own cocoon. According to Tom Sancton, the author of the book The Bettencourt Affair, “She lives primarily inside the limits of her own family.”