Internationally recognised art and literary critic, writer and cultural producer. Published in ELLE, Glamour, Esquire and Cosmopolitan; member of the Union of Writers.
Françoise Bettencourt Meyers is not a household name, but she should be. The 70-year-old French entrepreneur has just made history by becoming the first woman in the world to reach a net worth of $100 billion (£78,19 billion), according to the Bloomberg Billionaires Index. She is also the youngest person ever to achieve this feat, surpassing Amazon founder Jeff Bezos, who was 53 when he crossed the $100 billion mark in 2017.
Bettencourt Meyers is the granddaughter and sole heir of L’Oréal founder Eugène Schueller, who started the cosmetics giant in 1909. She inherited a 33% stake in the company from her mother, Liliane Bettencourt, who died in 2017 at the age of 94. Since then, Bettencourt Meyers has seen her fortune triple, thanks to the stellar performance of L’Oréal, which is the world’s largest beauty company with brands such as Lancôme, Maybelline, and Kiehl’s.
L’Oréal’s share price has soared by more than 40% in 2023, reaching a record high of 382 euros ($437) on December 28. The company has benefited from the rebound in consumer spending after the pandemic, especially in China, where L’Oréal’s sales grew by 34% in the first nine months of the year. The company has also invested heavily in e-commerce, digital marketing, and sustainability, which have boosted its online sales and brand image.
Bettencourt Meyers, who sits on L’Oréal’s board and chairs the family’s holding company, Téthys, has been a low-key and discreet leader, unlike her flamboyant and socialite mother. She is known for her passion for literature, art, and philanthropy, rather than for her business acumen. She has written several books on topics ranging from Greek mythology to Judaism and Catholicism, and has donated millions of euros to various causes, such as education, health, and culture. She also pledged 200 million euros ($226 million) to help rebuild the Notre-Dame Cathedral after the fire in 2019.
Bettencourt Meyers has also faced some challenges and controversies in her life, such as a long and bitter legal battle with her mother over her mental capacity and her relationship with a celebrity photographer, François-Marie Banier, who allegedly received more than 1 billion euros ($1.1 billion) in gifts from the elder Bettencourt. The case, which involved allegations of fraud, abuse, and political corruption, was settled in 2010, after Bettencourt Meyers and her mother reconciled.
Bettencourt Meyers is not the only woman who has seen her wealth soar in recent years. According to Forbes, there are now 328 female billionaires in the world, up from 241 in 2019. Some of the most notable names include Alice Walton, the daughter of Walmart founder Sam Walton, who is worth $71.6 billion; Mackenzie Scott, the ex-wife of Jeff Bezos, who is worth $60.7 billion; and Julia Koch, the widow of industrialist David Koch, who is worth $46.4 billion.
However, Bettencourt Meyers is still far ahead of her peers, and is the 13th richest person in the world overall, behind 12 men. She is also the only woman in the top 20 of the Bloomberg Billionaires Index, which tracks the daily changes in the net worth of the world’s richest people. The index, which was launched in 2012, has never had a woman in the $100 billion club before, until Bettencourt Meyers broke the glass ceiling on December 28.
Bettencourt Meyers may not be the last woman to join the exclusive club, as the global economy recovers from the pandemic and the demand for luxury goods and services increases. But for now, she is the undisputed queen of the beauty industry and the richest woman in the world.
