Bloomberg announces new highs for the richest woman in the world

December 29, 2023 01:02 AM PST | By Invezz

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Bloomberg announces new highs for the richest woman in the world — Image source: Invezz

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On December 28^th, Bloomberg announced that French author and philanthropist Francoise Bettencourt Meyers has become the first woman in history to have assets worth over $100 billion.

Bettencourt Meyers is the heiress of the L’Oréal group family fortune, which was passed down to her in 2017 after the death of her mother (who in turn had inherited it from her father and company founder Eugene Schueller).

According to Bloomberg, Bettencourt Meyers’ personal net worth climbed to over $100 billion this week as a result of the L’Oréal SA share price reaching an all-time high (ATH) of approximately €460 per share recently. To date, the company’s share price is up some 35 percent so far this year.

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Bettencourt Meyers also represents the passing down of key fashion and beauty heritages to a younger generation. Earlier this month, Hermès heir Nicolas Puech made waves when he announced that he would be leaving a sizable stake of the Hermès fortune to his gardener.

And earlier this year, 73 year-old LVMH titan, the so-called ‘wolf in cashmere’ Bernard Arnault, clarified the LVMH succession by announcing which of his five heirs would inherit which of the parent company’s luxury brands, from Louis Vuitton and Dior to Moët and more.

Unlike the Arnault children, however, Bettencourt Meyers has notably not been involved in the running of the L’Oréal group and had a highly-publicised contentious relationship with her mother, whom she inherited her shares from, while she was still alive.

Bettencourt Meyers’ new windfall puts her in exalted company, as likely one of the wealthiest women of all time. (Famed Egyptian monarch Cleopatra, for example, is estimated to have been the world’s richest person in her time, with personal net worth of approximately $95 billion by today’s standards).

The next richest women in the world are Walmart heiress Alice Walton and Koch Industries major shareholder Julia Koch, who each own fortunes valued north of $55 billion.

The post Bloomberg announces new highs for the richest woman in the world appeared first on Invezz

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