Imagine a fortune growing by $19 billion in just one year. This staggering leap places Françoise Bettencourt Meyers, the L'Oréal heiress, at a stunning net worth of $99.5 billion, the highest gain of any woman in 2024. How did she achieve this monumental wealth?
Françoise Bettencourt Meyers, inheriting the L'Oréal legacy as the world's richest woman for four consecutive years, controls 34.7% of the company. Her mother, Liliane Bettencourt, was the previous heiress, and Françoise, as an only child, received all her mother's shares. As the third generation involved with L'Oréal, she serves as the vice-chair of the 16-member board of directors. Her two sons, representing the fourth generation, also hold positions on the board.
L'Oréal, founded in 1909, stands as the world's largest cosmetics maker, boasting brands like Lancôme, Kiehl's, Maybelline, and Garnier. With over 85,000 employees worldwide, the French conglomerate reported revenues exceeding €38 billion in 2022. Despite a sluggish stock performance for years, a significant upward trend began around 2011. By 2012, its stock price surpassed €100 and continued to rise, momentarily hitting an all-time high of €460 a share in December 2023. This surge catapulted Bettencourt Meyers over the $100-billion mark.
Bettencourt Meyers’ rise was not without challenges. Known for avoiding high society and staying out of the public eye, she endured a tumultuous relationship with her mother. Their public feud, "L'affaire Bettencourt," captured global attention and was even adapted into a Netflix series. In 2007, Bettencourt Meyers accused several individuals of exploiting her mother's deteriorating mental health, leading to legal battles that placed her mother's assets under family guardianship.
Françoise was born on July 10, 1953, to Liliane and Andre Bettencourt. Her father was a prominent French politician from a noble Catholic family. Despite the Bettencourts' reputation for glamorous social gatherings, Françoise preferred a quieter life, often found playing the piano or immersed in books.
Choosing a path less travelled by her high-profile family, Françoise built a career as an author. Her literary works span Greek mythology, Judaism, and Catholicism. In 2008, she published a notable Biblical commentary, 'Regard sur la Bible.' Her dedication to music remains strong, with reports of her playing the piano for hours each day.
She values privacy over the glitz and glamour, living a life mostly within her family's cocoon. Her marriage to Jean-Pierre Meyers was a significant personal decision. She embraced Judaism, and their children, Jean-Victor and Nicolas, were raised in the Jewish faith. This union was controversial due to her grandfather's alleged Nazi collaboration.
The Bettencourt family's story, including the infamous feud between Françoise and her mother Liliane, attracted the world. This saga, detailed in the Netflix docuseries 'The Billionaire, The Butler, and the Boyfriend,' explores the complex relationships and legal battles that gripped France, involving high-profile figures and even a former president.
