- Mrs. Bettencourt Meyers is the richest woman in the world
- She inherited her wealth after her mother's death in 2017
L'Oréal heiress Francoise Bettencourt Meyers has become the first woman to amass a $100 billion fortune.
The French businesswoman, 70, reached the milestone after shares in beauty giant L'Oreal – founded by her grandfather in 1909 – hit a record high.
A recent stock price surge has put Ms. Bettencourt Meyer's net worth at about $100.2 billion, according to Bloomberg's Billionaire Index released yesterday.
Mrs. Bettencourt Meyers, the richest woman in the world, inherited her wealth after the death of her mother Liliane Bettencourt in 2017.
It followed a huge legal battle that developed into a political scandal over whether her mother could manage the family fortune.
L'Oréal heiress Francoise Bettencourt Meyers is the first woman to amass a $100 billion fortune
The French businesswoman, 70, reached the milestone after shares in beauty giant L'Oréal – founded by her grandfather in 1909 – hit a record high (stock image)
Last month, a three-part Netflix documentary about the bitter public row was released.
The reclusive billionaire has reportedly written two books – one about the Bible and one about Greek gods – and plays the piano for hours a day.
Paris-based L'Oréal has suffered during the pandemic as consumers bought less makeup and other beauty products during global lockdowns.
But sales have rebounded in the years since, sending the stock price of the owners of Garnier and Maybelline soaring.
The company also owns luxury brands such as Lancome, Prada and Yves Saint Laurent.
Shares of the 114-year-old beauty group have risen 35 percent in the past year, adding about $28 billion to Ms. Bettencourt Meyer's personal wealth.
Ms. Bettencourt Meyers and her family own a 35 percent stake in L'Oreal and she is vice chairman of the company's board of directors. Her sons Jean-Victor Meyers and Nicholas Meyers are also directors.
Despite Ms. Bettencourt Meyer's vast fortune, her wealth still lags far behind Bernard Arnault, the founder of French luxury goods conglomerate LVMH.
A recent stock price surge has put Ms. Bettencourt Meyer's net worth at approximately $100.2 billion, according to Bloomberg's Billionaire Index released yesterday (stock image)
Arnault had a fortune of $179.4 billion as of Wednesday evening, the Bloomberg index showed.
The index, which is updated every day, currently names Elon Musk as the richest man in the world.