Edited by Sangeeta Das
Francoise Bettencourt Meyers is now the
first woman to possess a $100 billion fortune after her wealth rose to $100.1
billion, showed the Bloomberg Billionaires Index, on Thursday.
She achieved the milestone after shares
of beauty product company L’Oreal SA, founded by her grandfather Eugene
Schueller, jumped to a record high since 1998.
Meyers, who is the 12th richest
person in the world, however is still behind Mexico’s Carlos Slim and French
compatriot Bernard Arnault due to her significantly less fortune.
Bernard Arnault, the second in the
global ranking with $179 billion, is a French businessman and the founder,
chairman and CEO of LVMH Moët Hennessy Louis Vuitton.
Stock of L’Oreal SA could grow to another
12 per cent over the next year as its product and geographic range shows
resilience, stated Consumer Edge Research analyst Brett Cooper.
About
Francoise Bettencourt Meyers
Bettencourt Meyers, the 70 years’ old
businesswoman of reclusive nature, is L’Oreal’s board vice-chair.
She and her family are the single
biggest shareholders with a stake of nearly 35 per cent in this company, which
is worth 241 billion pounds or $268 billion globally.
Additionally, Bettencourt Meyers chairs Tethys,
which is her family’s holding company. Her husband Jean-Pierre Meyers is the chief
executive.
In 2016, the couple established subsidiary
Tethys Invest SAS. It bets on areas that don’t compete with the company. Former
banker Alexandre Benais is the CEO of Tethys Invest.
Her two sons – Jean-Victor Meyers and
Nicolas Meyers – are directors.
Bettencourt Meyers has penned two books based
on religious theme and is passionate about playing piano.
She was the only child. However, her
relationship with mother Liliane Bettencourt was unpleasant till the latter’s demise
in 2017. Only after this, Bettencourt Meyers gained her wealth.
Netflix Inc produced a three-part
documentary titled – L’Affaire Bettencourt – featuring legal controversy and a
former French President and clandestine recordings created by a butler.
