L’Oreal Boss, Francoise Bettencourt Meyers, Becomes First Woman to Join $100BN Club in the World

Francoise Bettencourt Meyers, the vice chair of the French cosmetics giant L’Oréal, has reached a net worth of $100.1 billion, as per Forbes’ Real Time Billionaires ranking.

For the first time ever, the prestigious $100 billion club, usually filled with men, now includes its first female member.

This milestone solidifies her status as the richest woman globally and signifies a change in the gender balance among the super-rich.

What you didn’t know about Francoise Bettencourt Meyers

After her mother, Liliane Bettencourt, passed away in 2017, the heiress, the granddaughter of L’Oréal founder Eugène Schueller, debuted on Forbes’ list of the world’s richest people in 2018.

The 70 years old, momentarily exceeded the $100 billion milestone on May 15 but experienced a slight decline in her net worth afterward.

However, a 0.8% increase in L’Oréal Group shares to 455.6 Euros on Wednesday pushed her net worth back up to $100.1 billion.

The majority of her wealth is linked to a nearly 35% stake in L’Oréal, which she co-owns with her husband and two sons.

Furthermore, strategic acquisitions, such as the acquisition of Australian beauty brand Aesop for $2.5 billion, have significantly contributed to L’Oréal’s expansion, particularly in the luxury beauty sector.

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