Francoise Bettencourt Meyers, the granddaughter of the founder of the renowned French beauty brand L’Oreal, has achieved an extraordinary milestone by surpassing the $100 billion mark. This unprecedented achievement also makes her the first woman in history to amass a twelve-figure fortune.

Moving up to an impressive 12th position on the highly esteemed Bloomberg Billionaire’s Index, Bettencourt Meyers witnessed a staggering increase of $836 million in wealth as of Wednesday’s closing bell, pushing her net worth to a peak of $100.2 billion.

While her wealth experienced a slight dip and settled at $99.9 billion by the end of Thursday, it firmly places her in the league of the world’s highest earners, alongside influential figures like Warren Buffett, Mark Zuckerberg, and Jeff Bezos.

Another prominent figure in the French luxury goods industry, Bernard Arnault of LVMH, commands the second spot on the Bloomberg Billionaire’s Index with an estimated fortune of $179 billion.

Bettencourt Meyers owes a significant portion of her wealth to her stake in L’Oreal, the largest cosmetics company in the world. This substantial inheritance came about following the passing of her mother, Liliane Bettencourt, in 2017, as reported by Bloomberg. With her grandfather having founded the company back in 1909, the Bettencourt family has transformed it into a beauty products empire worth an astounding $240 billion.

As an only child, Bettencourt Meyers was known to have had a complex relationship with her mother. In fact, her mother’s former butler triggered a political scandal in 2010 when recordings emerged, leading to investigations into President Nicolas Sarkozy’s 2007 election campaign and allegations of influence-peddling against former Labor Minister Eric Woerth, as highlighted by Bloomberg at that time.

Francoise Bettencourt Meyers’ remarkable ascent to become the first woman to reach a fortune of over $100 billion is a testament to her family’s enduring legacy and her own formidable business acumen. Her achievements in the beauty industry serve as an inspiration to aspiring entrepreneurs and women around the globe.

The Bitter Court Battle: A Family Dispute

The bitter court battle that unfolded was initially a family dispute. Liliane, an elderly woman, gifted approximately $1.3 billion to a friend, raising concerns from her daughter about her ability to manage the family’s vast wealth.

Netflix’s Dramatic Reenactment

The saga of this family dispute was so captivating that it was even reenacted in a Netflix series called The Billionaire, The Butler, and The Boyfriend. This series debuted on the streaming platform in November.

L’Oreal’s Dominance and Generous Dividends

In L’Oreal’s 2022 annual financial report, it is revealed that Bettencourt Meyers and her family own nearly 35% of the company’s share capital. This significant ownership makes them the largest shareholders. Moreover, their stake in the company has resulted in dividends amounting to over $11.2 billion. These dividends alone demonstrate the lucrative nature of their investment.

The L’Oreal Empire

Bettencourt Meyers, often described as a reclusive billionaire who spends hours playing the piano, holds the position of vice-chair on the board of L’Oreal. Notably, L’Oreal has expanded to include several subsidiaries such as Maybelline, Kiehl’s, and NYX, among other renowned cosmetics companies. Additionally, her two sons, Jean-Victor Meyers (37) and Nicolas Meyers (35), also serve as directors within the company.

The Family Holding Company

Bettencourt Meyers also acts as the chair of her family’s holding company called Téthys. It is within this company that their notable stake in L’Oreal is held. Her husband, Jean-Pierre Meyers, serves as the chief executive of the holding company.

Seeking Comment

At the time of writing, representatives for Bettencourt Meyers at L’Oreal have not responded to The Post’s request for comment.

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