Francoise Bettencourt Meyers, the granddaughter of the L’Oreal founder, has achieved a remarkable financial milestone by amassing a fortune exceeding $100 billion, marking her as the first woman to reach this level of wealth. At 70 years old, Bettencourt Meyers has climbed to the 12th position on the Bloomberg Billionaires Index. Although her net worth slightly dipped to $99.9 billion by the end of Thursday, she remains among the world’s wealthiest individuals, alongside names like Warren Buffett, Mark Zuckerberg, and Jeff Bezos.
Her substantial wealth primarily stems from her approximately 35% stake in L’Oreal, the world’s largest cosmetics company, which she inherited after her mother, Liliane Bettencourt, passed away in 2017. The company, founded by her grandfather in 1909, has grown into a global beauty empire valued at over $240 billion.
— Françoise Bettencourt Meyers (@MeyersFrancoise) October 10, 2019
Bettencourt Meyers, an only child, had a tumultuous relationship with her mother, which became public following a political scandal in 2010. This scandal involved probes into then-President Nicolas Sarkozy’s 2007 election campaign and allegations of influence-peddling against former Labor Minister Eric Woerth. The family dispute escalated when Bettencourt Meyers questioned her mother’s ability to manage their wealth after discovering her mother’s substantial gifts to a friend, leading to a high-profile court battle.
According to L’Oreal’s 2022 annual financial report, Bettencourt Meyers and her family own nearly 35% of the company’s share capital. This stake not only makes them the largest shareholders but has also resulted in dividends exceeding $11.2 billion for the family, as reported by Bloomberg.
Known for her reclusive nature and passion for playing the piano, Bettencourt Meyers serves as the vice-chair of L’Oreal’s board. The company’s portfolio includes well-known subsidiaries like Maybelline, Kiehl’s, and NYX. Her sons, Jean-Victor Meyers, 37, and Nicolas Meyers, 35, also hold positions as directors on the board.
Additionally, Bettencourt Meyers chairs her family’s holding company, Téthys, which holds the L’Oreal stake. Her husband, Jean-Pierre Meyers, functions as the chief executive of the company. Representatives for Bettencourt Meyers at L’Oreal did not immediately respond to a request for comment from The Post.
