Francoise Bettencourt Meyers, heir to the L’Oreal fortune, has become the first woman in history to accumulate a fortune valued at $100 billion. This monumental achievement marks a significant milestone not only for Bettencourt Meyers herself, but also for France’s rapidly growing fashion and cosmetic industries.
Her wealth increased to a staggering $100.2 billion this Thursday, as indicated in the Bloomberg Billionaires Index. This rise in fortune coincided with a record all-time high in the shares of the cosmetics giant L’Oreal SA, originally founded by her grandfather. It’s worth noting, however, that despite the noteworthy growth, Bettencourt Meyers’ fortune is still well below that of fellow French billionaire Bernard Arnault, founder of the luxury goods conglomerate LVMH Moet Hennessy.
Meyers inherited her stake in L’Oreal from her mother upon her death in 2017. Since then, the company’s shares have surged to an unprecedented high, culminating in a record year for the company this year – its most profitable since 1998.
This milestone serves as an extraordinary testament to both the heir’s personal wealth and the broader strength of France’s flourishing fashion and cosmetics industries.
For more details, you can refer to the original article at the following link.