The World's Richest Woman... The First Woman to Have a Fortune of $100 Billion

L'Or?al Heir, Ranked 12th in Global Wealth
1st Elon Musk · 2nd Bernard Arnault

Fran?oise Bettencourt Meyers (70), granddaughter of the founder of L'Or?al, has become the first woman to possess a fortune of $100 billion (approximately 128.6 trillion KRW).

On the 28th (local time), according to Bloomberg Billionaires Index, Meyers' fortune was recorded at $100.1 billion (approximately 128.73 trillion KRW). Previously, Meyers was also named the richest woman in the world in the '2023 World's Billionaires Report' released by the economic magazine Forbes in April. This time, she ranked 12th in the global wealth ranking regardless of gender. L'Or?al owns world-renowned cosmetics brands such as Kiehl's, Lanc?me, Maybelline New York, and Essie. The company is valued at $268 billion (approximately 345.854 trillion KRW).

Fran?oise Bettencourt Meyers (left), granddaughter of the founder of L'Or?al, and Bernard Arnault, chairman of Louis Vuitton Mo?t Hennessy (LVMH).
[Image source=AFP Yonhap News]

L'Or?al's stock price has surged 35% since the beginning of this year. This is due to increased revenge spending on luxury goods following the end of the COVID-19 pandemic. Meyers currently serves as the vice-chair of L'Or?al's board of directors. Meyers and her family are the largest shareholders, holding about 35% of the shares, and her two sons, Jean-Victor Meyers and Nicolas Meyers, are also directors. L'Or?al was founded in 1909 by her grandfather, Eug?ne Schueller, a chemist who developed and sold hair dye, and has been operated by executives outside the family for decades.

Meyers inherited most of her wealth from her mother, Liliane Bettencourt. When Bettencourt passed away in 2017, Meyers, her only daughter, acquired a vast fortune. Bettencourt rarely gave interviews and kept her private life away from the public eye, but she was often in the media due to her immense wealth, connections with celebrities, and legal disputes over her fortune. Meyers herself also avoids revealing her life to the outside world and steers clear of the glamorous social life pursued by many of the world's wealthy. Instead, she has authored biblical studies and books on the genealogy of Greek gods, and is known to play the piano for several hours daily.

Meanwhile, the world's richest person is Elon Musk, CEO of Tesla, with $232 billion (approximately 299.396 trillion KRW). Musk experienced a rollercoaster battle for the top spot with Bernard Arnault, chairman of the French luxury group LVMH, due to Tesla's stock plunge earlier this year, but regained the lead around June. Arnault holds $179 billion (approximately 230.9995 trillion KRW), ranking second in the global wealth list. As French luxury retail dominance expands, other ultra-wealthy families have emerged, including the Herm?s family, which has accumulated the largest family fortune in Europe, and the Wertheimer brothers who own Chanel.