L'Oreal Heiress Francoise Bettencourt Meyers Becomes First Woman with a $100 Billion Fortune, Says Bloomberg

Francoise Bettencourt Meyers, the heiress to the L’Oreal fortune, has made history as the first woman to amass a net worth of $100 billion, Bloomberg states. Ranking 12th on the Bloomberg Billionaires Index, she is wealthier than Mukesh Ambani and slightly less wealthy than Carlos Slim, the first Latin American to reach $100 billion.

Boosted by a 35% increase in 2022, L’Oreal shares have hit an all-time high, with a surge in luxury product sales since the pandemic. Bettencourt Meyers, who inherited her mother's stake and is the chairwoman of Tethys, L’Oreal’s holding company, and vice chairwoman of its board, controls over one-third of L’Oreal's stock.

The Paris-based cosmetic giant, extending from Lancome to Maybelline, reported over €38 billion in 2022 sales. Notably, this year, L’Oreal acquired the Australian brand Aesop for $2.5 billion, its largest brand acquisition to date surpassing the purchase of YSL Beauté in 2008.

Despite her substantial wealth, Bettencourt Meyers' fortune is modest compared to LVMH's Bernard Arnault, who has a $179 billion net worth and stands as the world's second-richest person.