(qlmbusinessnews.com Mon, 1st Jan, 2024) London, UK —
“Breaking Records: Françoise Bettencourt Meyers Emerges as the First Woman to Surpass $100 Billion Fortune”
In a historic milestone, Françoise Bettencourt Meyers, heiress to the L'Oréal empire, has become the first woman to accumulate a staggering $100 billion (£78.5 billion; €90.1 billion) fortune. The achievement positions her as the 12th wealthiest individual globally, as reported by the latest ranking of the world's richest people.
The renowned French beauty empire, founded by her grandfather, is currently experiencing its most impressive stock market performance in decades. L'Oréal's shares reached an all-time high in Paris, reflecting the company's robust rebound in sales post-pandemic, notably during periods of lockdown when makeup usage declined.
At 70 years old, Ms. Bettencourt Meyers serves as the vice-chairperson of L'Oréal's board, and her family holds the largest single stake in the company, accounting for approximately 35%. The heiress took on the mantle after the passing of her mother, Liliane Bettencourt, in 2017.
Despite her monumental wealth, Bettencourt Meyers is still behind French magnate Bernard Arnault, the founder of LVMH, the world's premier luxury group. Arnault secures the second spot on the billionaires list with a net worth of $179 billion. LVMH boasts a prestigious portfolio, including renowned brands such as Fendi and Louis Vuitton.
Known for her inclination towards privacy, Bettencourt Meyers devotes her time to playing the piano for several hours each day and has authored two books—an extensive study of the Bible spanning five volumes and a genealogy of the Greek gods.
The path to her current status was marked by family complexities, as her mother, Liliane, frequently held the title of France's wealthiest person. A public dispute ensued during Liliane's later years, involving accusations by Françoise against a photographer and socialite whom she believed took advantage of her mother's mental frailty.
In a TV interview, Liliane expressed her discontent, stating, “My daughter could have waited patiently for my death instead of doing all she can to precipitate it.” A French court eventually ruled that Liliane had a form of dementia in 2011, granting Françoise control over her mother's wealth and income.
While Françoise Bettencourt Meyers has reached unprecedented financial heights, her preference for a private lifestyle has kept her away from the glittering social events frequented by many of the world's wealthy, allowing her to lead a life predominantly within the confines of her own family.
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