OR - L'oreal Heiress Francoise Bettencourt Meyers First Woman To Cross $100B Wealth Milestone | Benzinga
In a historic milestone for women in business, 70-year-old Francoise Bettencourt Meyers, the heiress to the L’Oreal fortune, has become the first woman to exceed a net worth of $100 billion.
What Happened: Bettencourt Meyers’ wealth rose to a staggering $100.2 billion, Bloomberg reported on Thursday. The significant increase in her wealth is primarily connected to the record-breaking shares of L'Oréal SA (OTC:LRLCY), the beauty magnate established by her grandfather, experiencing its most successful year since 1998.
Despite this considerable fortune, Bettencourt Meyers is still behind Bernard Arnault, the founder of LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY), whose wealth is estimated at $179.4 billion. The thriving luxury retail sector in France has led to the creation of several ultra-wealthy families.
The Bettencourt Meyers family owns the majority stake in L'Oréal, roughly 35%. The company, which has a market value of ...