L’Oreal heiress Francoise Bettencourt Meyers has become the first woman to accumulate a $100billion fortune. The French businesswoman, 70, reached the milestone after shares in beauty giant L’Oreal – founded by her grandfather in 1909 – hit a record high. A recent share price surge has taken Ms Bettencourt Meyer’s wealth to around $100.2billion, according to Bloomberg’s Billionaire Index published yesterday. Ms Bettencourt Meyers, who is the richest woman in the world, inherited her wealth after the death of her mother Liliane Bettencourt in 2017. It followed a huge legal battle which developed into a political scandal over whether her mother was able to manage the family’s fortune. L’Oreal heiress Francoise Bettencourt Meyers has become the first woman to accumulate a $100billion fortune The French businesswoman, 70, reached the milestone after shares in beauty giant L’Oreal – founded by her grandfather in 1909 – hit a record high (stock image) A three-part Netflix documentary on the bitter public row was released last month. The reclusive billionaire has reportedly written two books – one on the Bible and the other on Greek gods – and plays the piano for hours a day. Paris-based L’Oreal suffered during the pandemic as consumers bought less make up and other beauty products during global lockdowns. But sales have bounced back in the years since, which has pushed up the Garnier and Maybelline owner’s share price. The company also owns luxury brands such as Lancome, Prada and Yves Saint Laurent. The 114-year-old beauty group’s stock has surged 35 per cent over the last year, adding around $28billion to Ms Bettencourt Meyer’s personal wealth. Ms Bettencourt Meyers and her family own a 35 per cent stake in L’Oreal and she is vice-chair of the company’s board. Her sons Jean-Victor Meyers and Nicholas Meyers are also directors. Despite Ms Bettencourt Meyer’s huge fortune, her wealth still lags far behind Bernard Arnault, the founder of French luxury goods conglomerate LVMH. A recent share price surge has taken Ms Bettencourt Meyer’s wealth to around $100.2billion, according to Bloomberg’s Billionaire Index published yesterday (stock image) Arnault had a fortune of $179.4billion on Wednesday evening, Bloomberg’s index showed. The index, which is updated every day, currently lists Elon Musk as the world’s richest man.
