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Francoise Betancourt Meyers was already the world’s richest woman, but on Thursday she became the first woman to amass a staggering fortune of more than $100 billion ($100.2 billion to be exact), according to the Bloomberg Billionaires Index. She achieved a new milestone: being a woman.
Bettencourt Meyers, the granddaughter of L’Oréal founder Eugene Schuler, is vice chair of the L’Oréal board of directors and, along with her family, is a major shareholder in L’Oréal, holding approximately 35% of the company’s stock.
The surge in her wealth came at a time when L’Oréal SA’s stock price reached unparalleled highs and the company had one of its most successful years in more than 20 years.
Although Bettencourt-Myers has surpassed other female billionaires, she is still not among the top 10 richest people in the world. She’s not even the richest woman in France. She trails her compatriot Bernard Arnault in 12th place. The iconic figure behind LVMH Moët Hennessy Louis Vuitton SE ranks second on the Billionaires Index with assets of $179.4 billion. Elon Musk holds a comfortable lead with $238 billion.
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Not the typical $100 billion heir
Unlike other billionaires known for their outsized personalities and lavish lifestyles, Bettencourt-Myers, 70, is much more private and introverted, and some might consider her a recluse. She has written two of her books, one on the Bible and one on Greek mythology. She is also a passionate pianist, and she is known to practice for many hours a day.
But even as she tried to stay out of the spotlight, Bettencourt-Myers made headlines for nearly a decade in court battles over parts of her estate. As detailed in the 2017 Netflix documentary “L’Affaire Bettencourt,” her mother Lillian, who was suffering from Alzheimer’s disease, left artist and photographer François-Marie Vanier with $1 billion. He wanted to give away cash, real estate, and works of art. friend. But Bettencourt-Myers sued him after his mother’s death. He was ultimately convicted of abuse.
Related: Lawyers furious that Hermès heir wants to donate half of his $12 billion fortune to gardeners
Inheriting the French tradition
Founded in 1909 by chemist Schuler, L’Oréal is now a $268 billion company. The company is part of the highly successful French tradition of luxury goods giants. Besides L’Oréal and LVMH, the European country has also produced other wealthy families, including the owners of Hermès International SCA and the Wertheimer family, which owns Chanel.
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