Françoise Bettencourt Meyers, the vice chair of L’Oréal Group, has recently reached the milestone of being the first woman in the world to amass a fortune exceeding $100 billion. The 70-year-old heiress saw her net worth climb to $100.1 billion following a surge in L’Oréal’s stock value to record highs. Bettencourt Meyers inherited a significant stake in the cosmetics giant from her mother, Liliane Bettencourt, making her the richest woman in the world for the last four years.
L’Oréal’s success can be attributed to its strategic acquisitions and strong sales performance, with the company raking in $44 billion in revenues in 2023. Key brands under their portfolio include Maybelline, Kiehl’s, and Lancôme, among others. Bettencourt Meyers’ wealth has seen a meteoric rise of nearly $58 billion since making her debut on Forbes’ list of the world’s wealthiest individuals in 2018. Despite her immense wealth, she prefers to maintain a low profile and indulge in her passion for writing and playing the piano at her home in Paris.
The centibillionaire club, which previously consisted solely of male billionaires, has now welcomed Bettencourt Meyers as its first female member. The exclusive group, which includes 16 individuals with wealth exceeding $100 billion, has seen a significant increase in fortunes over the past year. The combined wealth of the centibillionaires accounts for 15% of the total wealth held by the 2,781 billionaires globally. This surge in wealth has been driven by various sectors, including tech, consumer products, and fashion.
Bettencourt Meyers’ inclusion in the league of centibillionaires sets her apart from the predominantly tech-focused members of the elite group. Other notable figures in the consumer products sector who have amassed significant wealth include Bernard Arnault, CEO of LVMH, and Amancio Ortega, the creator of the Zara brand. The $100 billion mark was once a rare feat, achieved by Bill Gates briefly in 1999 and later by Jeff Bezos, Bernard Arnault, and others in more recent years.
With global wealth reaching unprecedented levels, the billionaire landscape continues to evolve, with a record number of new entrants joining the centibillionaire ranks this year. Bettencourt Meyers’ fortune reflects the growing wealth divide, as top earners continue to amass colossal amounts of wealth. Despite her immense riches, she remains content to lead a private life away from the public eye, focusing on her passions and familial responsibilities within the L’Oréal empire. As one of the world’s wealthiest individuals, Bettencourt Meyers’ achievements serve as a testament to the changing dynamics of wealth accumulation and distribution in the modern era.
