In a historic milestone, Françoise Bettencourt Meyers, the 70-year-old heir to the L'Oréal beauty empire and the world's richest woman, is now also the first woman to amass a staggering $100 billion fortune.
According to the Bloomberg Billionaires Index, her wealth recently crossed this monumental mark, securing her position as the 12th richest individual globally.
Bettencourt Meyers, born on July 10, 1953, inherited a substantial fortune and assets, including a 35 per cent majority stake in the luxury brand L'Oréal, founded by her grandfather in 1909.
The beauty products empire, valued at over $240 billion, has thrived under the family's guidance.
However, the road to becoming the world's richest woman wasn't without its challenges.
Bettencourt Meyers had a tumultuous relationship with her mother, Liliane Bettencourt, which became public when her butler's recordings led to political scandals and legal probes. The Netflix documentary, ‘L’Affaire Bettencourt,’ delves into the intricate family saga.
Apart from her role as vice-chair on the board of L'Oréal, Bettencourt Meyers is a renowned author, focusing on works related to Greek mythology and Jewish-Christian relationships.
She is also deeply involved in philanthropy, directing funds towards science and social development and has written two books — a five-volume study of the Bible and a genealogy of the Greek gods.
Described as a reclusive billionaire, Bettencourt Meyers spends her days playing the piano for hours.
Her vast wealth is reflected in her ownership of million-dollar mansions across the globe, a diverse automobile collection, including a Bentley Continental GT and a Porsche 911 Cabriolet.
Bettencourt Meyers' family commands nearly 35 per cent of L'Oréal's stake, making them the single largest shareholders. Her sons, Jean-Victor Meyers and Nicolas Meyers, serve as directors in the company.
Beyond L'Oréal, she chairs her family's holding company, Tethys, and, along with her husband Jean-Pierre Meyers, established Tethys Invest SAS, making direct long-term investments in non-competing entrepreneurial projects.
The recent surge in Bettencourt Meyers' wealth is attributed to the record-high performance of L'Oréal's shares, positioning the stock for its best year since 1998.
Consumer Edge Research analyst Brett Cooper predicts a further 12 per cent rise in the company's stock over the next year.
Françoise Bettencourt Meyers' ascent to becoming the world's richest woman marks a significant moment not only for her but also for France's flourishing fashion and cosmetics industries.