L'oreal Heiress Francoise Bettencourt Meyers First Woman To Cross $100B Wealth Milestone

L'OREAL 0.00%
Louis Vuitton MH Unsponsored ADR 0.00%
Moelis & Co. Class A +1.33%
Netflix, Inc. -9.09%
Osisko Gold Royalties Ltd -0.31%

Moelis & Co. Class A




Netflix, Inc.




Osisko Gold Royalties Ltd







Louis Vuitton MH Unsponsored ADR



In a historic milestone for women in business, 70-year-old Francoise Bettencourt Meyers, the heiress to the L’Oreal fortune, has become the first woman to exceed a net worth of $100 billion.

What Happened: Bettencourt Meyers’ wealth rose to a staggering $100.2 billion, Bloomberg reported on Thursday. The significant increase in her wealth is primarily connected to the record-breaking shares of L'Oréal SA (OTC:LRLCY), the beauty magnate established by her grandfather, experiencing its most successful year since 1998.

Despite this considerable fortune, Bettencourt Meyers is still behind Bernard Arnault, the founder of LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY), whose wealth is estimated at $179.4 billion. The thriving luxury retail sector in France has led to the creation of several ultra-wealthy families.

See Also: Marjorie Taylor Greene Labels Hunter Biden’s Congressional Deposition No-Show As ‘Impeachable Offense’

The Bettencourt Meyers family owns the majority stake in L'Oréal, roughly 35%. The company, which has a market value of €241 billion ($268 billion), has been under the management of non-family executives for multiple decades.

Following her mother’s passing in 2017, Bettencourt Meyers’ fortune received a substantial boost. A legal battle over the family’s wealth became a political scandal, recently featured in a three-part documentary on Netflix.

According to Brett Cooper, an analyst at Consumer Edge Research, L'Oréal’s stock could see a further rise of around 12% in the coming year, thanks to its product range and global diversity.

Why It Matters: The rise of Bettencourt Meyers’ fortune marks a significant shift in the wealth landscape, historically dominated by men. In April 2023, the wealth gap between men and women has been gradually narrowing as more women assume leadership and ownership roles in companies. High-profile business figures like Elon Musk, Bernard Arnault, Gautam Adani, and Bill Gates have traditionally dominated the world's richest rankings.

Read Next: Lincoln Project Mocks Former President With ‘Trump Smells’ Ad Campaign: ‘Donald, Is That You?’

Image by nitpicker via Shutterstock

Engineered by Benzinga Neuro, Edited by Pooja Rajkumari

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Every question you ask will be answered
Scan the QR code to contact us
Also you can contact us via