Francoise Bettencourt Meyers turned the primary girl to amass a $100 billion fortune, marking one other milestone for the heiress and for France’s increasing style and cosmetics industries.
Her wealth jumped to $100.1 billion on Thursday, in response to the Bloomberg Billionaires Index.
The milestone got here as shares of L’Oréal SA, the sweetness merchandise empire based by her grandfather, rose to a document excessive, with the inventory set for its greatest 12 months since 1998.
She’s the Twelfth-richest individual on the planet, simply behind Mexico’s Carlos Slim.
Regardless of the achieve, Bettencourt Meyers’ fortune remains to be considerably lower than that of French compatriot Bernard Arnault, founding father of luxurious items purveyor LVMH Moet Hennessy Louis Vuitton SE, who’s second within the world rating with $179 billion.
France’s rising domination of luxurious retail has spawned a number of different ultra-rich households, together with the clan behind Hermes Worldwide SCA, who’ve amassed Europe’s largest household fortune, and the Wertheimer brothers who personal Chanel.
The reclusive Bettencourt Meyers, 70, is vice-chair of the board of L’Oréal, a globe-spanning €241 billion ($268 billion) firm during which she and her household are the one largest shareholders with a stake of practically 35%.
Her sons, Jean-Victor Meyers and Nicolas Meyers, are additionally administrators.
Run by executives from exterior the household for many years, the agency was based in 1909 by Bettencourt Meyers’ chemist grandfather, Eugene Schueller, to provide and promote a hair dye he had developed.
Bettencourt Meyers retains her life personal, shunning the glitzy social life sought by many the world’s rich. She has written two books — a five-volume examine of the Bible and a family tree of the Greek gods — and is understood for taking part in piano for hours every single day.