L’Oreal heir Francoise Bettencourt Meyers becomes first woman with $100 billion fortune

Bettencourt Meyers, aged 70, serves as the vice-chair of L'Oréal's board, continuing the legacy initiated in 1909 by her chemist grandfather, Eugene Schueller.

While her $100 billion fortune is indeed noteworthy, it remains overshadowed by the immense wealth of her compatriot Bernard Arnault, founder of LVMH Moet Hennessy Louis Vuitton SE, who holds the second position globally with a staggering $179.4 billion as of Wednesday's market close.

France's dominance in the luxury retail sector has birthed several ultra-rich families, including those behind Hermès International SCA and Chanel.

Maintaining a notably private life, Bettencourt Meyers eschews the glamorous social scene coveted by many of the world's affluent. Apart from her role at L'Oréal, she has authored two books—a comprehensive study of the Bible spanning five volumes and a genealogy of the Greek gods. Additionally, she is recognised for her dedication to playing the piano for hours every day.

Bettencourt Meyers inherited her substantial wealth as the sole heir following the 2017 demise of her mother, Liliane Bettencourt, with whom she had a sometimes contentious relationship.

The family's history includes a legal battle turned political scandal, chronicled in the recent Netflix documentary, "L'Affaire Bettencourt," which delves into the family feud and includes secret recordings made by a butler.

Despite facing challenges during the pandemic, with a downturn in the makeup industry due to lockdowns, L'Oréal experienced a swift rebound as consumers splurged on luxury items, leading to a 35% surge in the company's shares this year.