Francoise Bettencourt Meyers no more world's richest woman, overthrown by woman worth Rs 788500 crore

World's Richest Woman: Alice Walton, heiress to the Walmart fortune, has become the world's wealthiest woman, surpassing Francoise Bettencourt Meyers, the L'Oreal heiress. According to a report by Business Insider, Walton's net worth has soared to over $95 billion, thanks to a 44% increase in Walmart's stock price this year. This significant boost added $25 billion to her wealth. If her fortune continues to grow and crosses the $100 billion mark, Walton will join an elite group of centi-billionaires, which includes prominent figures like Elon Musk, Bill Gates, and Warren Buffett.

In contrast, Francoise Bettencourt Meyers, who inherited the L'Oreal cosmetics empire, has seen her net worth drop by $10 billion this year, bringing her total to $90 billion. This decline is primarily due to a 13% decrease in L'Oreal's share price since the start of the year, reflecting the volatility of global markets.

The Bloomberg Billionaires Index places Francoise Bettencourt Meyers at 19th on the list of the world's wealthiest people, while Alice Walton holds the 18th position. Walton's brothers, Jim and Rob, are also on the list, ranking 16th and 17th, respectively, with net worths of $98 billion and $96 billion. The Walton siblings each own more than 11% of Walmart's shares, which they inherited from their father, Sam Walton. Over the years, they have collectively earned more than $15 billion from stock sales and dividends, according to Bloomberg.

On the other hand, Francoise Bettencourt Meyers holds a 35% stake in L'Oreal, the largest cosmetics company in the world. The company owns famous brands like Garnier and Maybelline. Meyers inherited this massive shareholding from her mother, Liliane Bettencourt, who passed away in 2017. The cosmetics empire has been in their family for generations.

Alice Walton, born on October 7, 1949, in Newport, Arkansas, is the daughter of Sam Walton, the founder of Walmart, the world's largest retailer. She pursued a Bachelor of Arts degree in Economics from Trinity University in San Antonio, Texas. Walton started her career as an equity analyst and money manager at First Commerce Corporation and Arvest Bank Group, gaining expertise in finance. She later worked as a broker with EF Hutton before founding Llama Company in 1988, where she served as president, chairwoman, and CEO.

Although Walton inherited a significant portion of her father's Walmart fortune after his death in 1992, she has shifted her focus away from the retail business. Instead, she dedicates her time to curating art. In 2011, she opened the Crystal Bridges Museum of American Art in Bentonville, Arkansas, her hometown, further establishing her passion for the arts.

 

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