Francoise Bettencourt Meyers, the French billionaire heiress and chairwoman of L’Oréal, has taken the crown as the world’s richest woman, surpassing Walmart’s Alice Walton. Her estimated net worth now stands at a staggering $93.6 billion, reflecting the enduring influence of the global cosmetics giant L’Oréal, founded by her grandfather in 1909.
The shift in power comes amid continued growth in the beauty and skincare industry, particularly as L’Oréal has expanded its reach into new markets and sectors, while Walmart’s growth, though steady, has faced challenges in the rapidly evolving retail landscape.
The L’Oréal Legacy
L’Oréal has long been a force in the beauty industry, and Bettencourt Meyers’ ascent is the latest testament to that legacy. Inherited from her mother, Liliane Bettencourt, who was previously the world’s richest woman until her death in 2017, Francoise’s involvement in the company has been substantial. While she prefers to stay out of the limelight, her influence in guiding L’Oréal to new heights is undeniable. Under her leadership, L’Oréal continues to dominate both traditional markets and emerging sectors, with ventures into beauty tech, sustainability, and inclusivity.
Francoise, who also chairs her family’s holding company, owns around 33% of L’Oréal’s stock, making her the largest individual shareholder of the brand that touches millions of lives worldwide. This firm grip on L’Oréal’s shares, alongside the company’s ever-increasing market value, has allowed her net worth to skyrocket.
A Quiet Powerhouse
While her wealth is immense, Bettencourt Meyers is known for living a life outside of the public eye. She is a scholar, having written extensively on Greek mythology and the Bible, which has earned her a reputation as an intellectual force in her own right. Music also plays a significant role in her life, with reports indicating that she spends hours at the piano, a passion that grounds her amid the whirlwind of her vast empire.
Despite her wealth, Francoise is deeply committed to philanthropy. Through the Bettencourt Schueller Foundation, the family has been involved in numerous charitable causes, from scientific research to the arts and social projects, reflecting their ongoing dedication to giving back to society.
The Billionaire Rivalry
Alice Walton, Walmart’s heiress, previously held the title of the world’s richest woman with a net worth of around $61.3 billion. While Walmart continues to be a retail juggernaut, its growth rate has slowed in comparison to the tech and beauty industries, which have seen rapid expansion, especially during the post-pandemic era. This shift has seen Francoise’s wealth overtake Walton’s, marking a new chapter in the ongoing rivalry between the world’s wealthiest families.
The Future of Wealth
As the world continues to change, it remains to be seen how these two titans of industry will fare. For now, Francoise Bettencourt Meyers stands tall as the wealthiest woman on the planet, a title that underscores the enduring power of both her family and the L’Oréal brand.
Source: This article is based on information from Forbes and Money.com.
Key Highlights
1. Francoise Bettencourt Meyers is now the world’s richest woman, surpassing Alice Walton with a net worth of $93.6 billion.
2. She holds a 33% stake in L’Oréal, the global beauty giant founded by her grandfather.
3. Despite her vast wealth, Bettencourt Meyers maintains a low profile, focusing on academic and philanthropic work.
4. The Bettencourt Schueller Foundation supports charitable initiatives in the arts, science, and social causes.