Francoise Bettencourt Meyers has achieved a historic milestone, becoming the first woman to amass a staggering $100 billion fortune, mainly through her association with L’Oréal SA, a renowned beauty products empire started by her grandfather.
Her wealth surged to $100.2 billion as L’Oréal SA’s shares reached an all-time high, marking an exceptional year for the company. Despite this achievement, her wealth is still less than Bernard Arnault, another French magnate leading the luxury goods empire LVMH Moet Hennessy Louis Vuitton SE.
France’s dominance in luxury retail has given rise to several wealthy families, including those behind Hermes International SCA and Chanel. Bettencourt Meyers, a private figure at 70, serves as vice-chair of L’Oréal’s board, with her family holding the largest stake in the €241 billion company.
Maintaining a private lifestyle, she focuses on pursuits such as playing the piano for extended hours daily and writing books on subjects like the Bible and Greek mythology. Her fortune increased following her mother’s passing in 2017, amid a past family feud that resulted in a legal and political scandal.
L’Oréal faced challenges during the pandemic but rebounded as consumers indulged in luxury goods. Analysts foresee further growth due to the company’s product diversity and global reach.
Bettencourt Meyers oversees her family’s holding company, Téthys, alongside her husband. The company, partly funded by L’Oréal dividends, invests in various ventures like insurance, fashion, and private hospitals.Headed by former investment banker Alexandre Benais, Téthys Invest aims to make long-term investments in non-competing entrepreneurial projects, recently acquiring stakes in diverse sectors like fashion and healthcare.
