How Francoise Bettencourt Meyers,Became the First Woman To Hit $100 Billion Ceiling Through Cosmetics

How Francoise Bettencourt Meyers,Became the First Woman To Hit $100 Billion Ceiling Through Cosmetics

French Cosmetics Billionaire Francoise Bettencourt Meyers, World’s Richest Woman

By Timothy Rooks

Francoise Bettencourt Meyers, the French cosmetics billionaire is the first woman to break through the $100-billion ceiling. Who is she and how did she become the world’s richest woman?
Timothy Rooks,tells the amazing story of her rise to fame and wealth
Enjoy it.

It takes money to make money. There is hardly a better example of this than French billionaire Francoise Bettencourt Meyers.
late December, she broke through the $100-billion ceiling and became the first woman to ever amass so much money, according to the Bloomberg Billionaires Index. In 2023, she added $28.6 billion (€26.1 billion) on top of the billions she already had.
Though she was down to $96.2 billion on January 4, 2024, Bettencourt Meyers is still by far the richest woman in the world and the 13th richest person overall according to Bloomberg calculations. Forbes, which also compiles a list of billionaires, ranks her 15th. However you do the math, she is one of the few women to make either list.

How did she become so rich?

Bettencourt Meyers is the granddaughter of L’Oreal’s founder. Her mother, Liliane Bettencourt, was the richest woman in the world until her death in 2017 at 94 and left her daughter a fortune of $40 billion, mostly in the form of a stake in L’Oreal.
70-year-old Bettencourt Meyers is not just the granddaughter of L’Oreal founder Eugene Schueller. Just like her mother, she is an only child. That means all her mother’s L’Oreal shares went to her. Now she controls 34.7% of the company.
She is the third generation of the family to be involved in the company and is vice-chair of L’Oreal’s 16-member board of directors. Her two sons, part of the fourth generation, are also on the board. Bettencourt Meyers has received huge company dividend cash payouts over the years, but the L’Oreal stock itself is the most valuable thing she owns.
She is the third generation of the family to be involved in the company and is vice-chair of L’Oreal’s 16-member board of directors. Her two sons, part of the fourth generation, are also on the board. Bettencourt Meyers has received huge company dividend cash payouts over the years, but the L’Oreal stock itself is the most valuable thing she owns.

The L’Oreal beauty touch

Founded in 1909, the French conglomerate L’Oreal is today the world’s largest cosmetics maker and owns brands like Lancome, Kiehl’s, Maybelline and Garnier. It employs more than 85,000 people around the world. In 2022, it reported revenues of over €38 billion.
It was not always so profitable. For years the stock price was stuck. But since around 2011 the company’s shares have been on an upward trend. Its stock price topped €100 in 2012. After that, it has mostly climbed, besides a COVID slowdown.
Back on track, it momentarily hit an all-time high of €460 a share on December 19, giving the company a market capitalization of over €240 billion. This is what pushed Bettencourt Meyers over the $100-billion mark.
She is not the richest person in France though. That title goes to Bernard Arnault the owner of luxury goods group LVMH and for a time the richest person on the planet. He currently has $179 billion, according to Bloomberg.

A bumpy ride to the top

For Bettencourt Meyers, it was not an easy, automatic rise to the top. Sometimes just being an heiress is not enough. Over the years she has avoided high society, written books and strived to stay out of the public eye.
Yet she had a strained relationship with her mother. Things came to a head in a public spat that added to their family drama, making headlines around the world and leading to one of the biggest scandals in France. One so shocking, it was simply called “L’affaire Bettencourt” and was recently turned into a three-part Netflix series.
Starting in 2007, Bettencourt Meyers accused several people of exploiting her mother’s deteriorating mental health, an accusation that at one point even included former French President Nicolas Sarkozy. Mother and daughter settled their feud out of court and Bettencourt — and her money, investments and property — was placed under the legal guardianship of her family.

Finding the right balance

During those long, epic legal battles, Bettencourt Meyers stood her ground and was able to keep most of her mother’s fortune intact. Today, it seems she has put that public relations disaster behind her.
Since the death of her mother, Bettencourt Meyers has been fully in charge and has skyrocketed onto the various billionaire lists herself in 2018. In the past few years, she has seen her inherited $40-billion fortune more than double, thanks to an unprecedented stock boom at L’Oreal. But as always on the stock market, what goes up can come down.
Besides L’Oreal shares, she and the family invest in other projects through their family-owned holding and investment company Tethys.