Françoise Bettencourt Meyers, the vice chair of L’Oréal, has officially become the first woman to enter the $100 billion club, as her net worth reached $100.1 billion. After briefly crossing the $100 billion mark in May, the surge in L’Oréal’s stock price on Wednesday solidified her position at the top. Bettencourt Meyers, who is 70, owns nearly 35% of L’Oréal along with her husband and two sons, attributing most of her fortune to her stake in the cosmetics giant.
L’Oréal saw a boost in its stock prices back in April after surpassing first-quarter sales expectations, with a share price increase of over 5% in a single day. The company has been successful in recent years with strategic acquisitions, such as Australian beauty brand Aesop. Bettencourt Meyers, the granddaughter of L’Oréal founder Eugène Schueller, ascended to the ranks of the wealthiest in 2018 following the passing of her mother, the previous L’Oréal shareholder. Her fortune has grown by nearly $58 billion since her debut on Forbes’ list.
Despite her immense wealth and status as the richest woman in the world for the past four years, Bettencourt Meyers chooses to maintain a low profile, focusing on her passions for writing and playing piano. She joins a select group of centibillionaires, with 16 individuals now surpassing the $100 billion mark. The collective wealth of these individuals has surged by almost 40% since 2023, representing 15% of the total wealth of billionaires worldwide.
Bettencourt Meyers stands out among her peers, most of whom are tech moguls, as part of the consumer products industry. Other notable figures in the consumer products sector include Bernard Arnault of LVMH and Amancio Ortega of Zara. The $100 billion club was once seen as unattainable until 1999 when Bill Gates briefly reached the milestone before a stock market crash reduced his net worth. It wasn’t until 2017 that Jeff Bezos became the first sole centibillionaire, followed by others in subsequent years.
The surge in wealth among the global elite reflects a broader trend of increasing wealth accumulation, with a record number of individuals entering the centibillionaire ranks in recent years. Bettencourt Meyers’ success with L’Oréal mirrors the success of other members of the $100 billion club, as they continue to amass wealth through their respective industries. Despite her immense wealth, Bettencourt Meyers remains devoted to her personal interests and maintains a discreet public presence in contrast to her high-profile position.
