L'Oréal heiress is first woman to achieve historic 100 billion dollar fortune

L'Oréal heiress Françoise Bettencourt Meyers has achieved the milestone of being the first woman to accumulate a 100 billion dollar fortune, as per the latest ranking of the world's wealthiest individuals by Bloomberg.

The French beauty empire, founded by her grandfather, is experiencing a notable surge in stock market performance, reaching record highs in Paris, according to the BBC. L'Oréal's rebound in sales post-pandemic, marked by increased demand as lockdown restrictions eased, has contributed to its financial performance.

At 70 years old, Ms. Bettencourt Meyers now holds the 12th position on the Bloomberg Billionaires Index. Despite her substantial wealth, she remains behind French counterpart Bernard Arnault, the founder of LVMH, who holds the second position with a net worth of 179 billion dollars. Ms. Bettencourt Meyers owns a significant 35 percent stake in L’Oréal, in addition to inheriting a leadership role following the 2017 passing of her mother, Liliane Bettencourt, who was consistently ranked as France's wealthiest person.