Francoise Bettencourt Meyers has made history by becoming the first woman to amass a staggering $100 billion fortune. This remarkable achievement not only cements her status as a global financial powerhouse but also signifies a significant milestone for the expanding fashion and cosmetics industries in France.
The Rise to $100.1 Billion
Bettencourt Meyers’ wealth surged to an astounding $100.1 billion as reported by the Bloomberg Billionaires Index. This landmark moment coincided with a record high in the shares of L’Oréal SA, the beauty products empire founded by her grandfather. The stock is on track for its best year since 1998, solidifying her position as the 12th-richest person globally, trailing closely behind Mexico’s Carlos Slim.
Private Life and Legacy
Known for her reclusive lifestyle, Bettencourt Meyers steers clear of the glitzy social scenes typical of the world’s wealthy elite. In addition to her business acumen, she is recognized for her intellectual pursuits, having written two books—a comprehensive five-volume study of the Bible and a genealogy of the Greek gods. A devoted pianist, she spends hours playing the instrument daily.
The L’Oreal Legacy
Bettencourt Meyers, aged 70, serves as the vice-chair of the board of L’Oréal, a globally expansive €241 billion ($268 billion) company. Her family is the single largest shareholder, boasting a nearly 35 percent stake. Founded in 1909 by her chemist grandfather, Eugene Schueller, L’Oréal has been a symbol of innovation and success in the beauty industry. As an only child, Bettencourt Meyers inherited her wealth following the 2017 passing of her mother, Liliane Bettencourt.
L’Oréal’s Resilience and Future Prospects
Despite challenges, L’Oréal experienced rapid growth in the decade leading up to the pandemic. The subsequent downturn during the health crisis, with reduced makeup usage during lockdowns, was swiftly followed by a rebound as consumers indulged in luxury items. This year alone, the company’s shares have soared by 35%, and Consumer Edge Research analyst Brett Cooper suggests the stock could rise an additional 12% in the next year, citing the company’s product and geographic diversity as key strengths.
Important Questions Related to Exams
1. Which company’s shares reached a record high, contributing to Bettencourt Meyers’ wealth increase?
b) L’Oréal SA
c) Hermes International SCA
2. Where does Francoise Bettencourt Meyers currently stand in the global billionaire ranking?
Please provide your answers in the comments section