French businesswoman and the world’s richest woman, Francoise Bettencourt Meyers, has seen a slight increase in her net worth.
According to data from Bloomberg and the Forbes Billionaire Index, the 69-year-old billionaire began the year with a net worth of $80.5 billion. Her recent surge in wealth amounts to an impressive $12.1 billion increase.
Despite experiencing some losses along the way, Meyers maintains her position as the wealthiest woman in the world.
Meyers’ fortune primarily stems from her stake in L’Oreal, the largest cosmetics company globally.
She inherited this stake when her mother, Liliane, passed away at the age of 94, as stated in a company statement dated September 21, 2017. Meyers and her family currently own 33.3% of L’Oreal’s share capital, according to the company’s 2021 annual financial report.
It’s worth noting that a significant portion of Meyers’ wealth is inherited from her family.
What contributed to Meyers’ increase in net worth?
A breakdown reveals that, as of this report, L’Oreal’s stock prices are bullish at $422, compared to $427 on July 3, 2023.
A review of June 5, 2023, showed the stock price at $407, indicating growth between that time and the present.
L’Oreal’s first-quarter report from April revealed a +13.0% increase in group sales. The net impact of changes in the scope of consolidation was +1.0%. On a reported basis, group sales rose by +14.6% to 10.38 billion euros.
Commenting on these figures, Nicolas Hieronimus, CEO of L’Oréal, said:
- “In a beauty market that remains very dynamic, L’Oréal has maintained strong growth momentum and posted an excellent first quarter, with sales up +13.0% like-for-like and +14.6% reported.
- Boosted by valued innovations across all divisions and the commitment of our teams worldwide, L’Oréal has outperformed the market in all geographic zones, solidifying its leadership position.
- This performance, which has yet to benefit from China’s reopening, demonstrates the strength of L’Oréal’s balanced multipolar model. I am excited to soon welcome the remarkable Aēsop brand and its teams, which will strengthen L’Oréal Luxe.”
Background
Bettencourt Meyers, at 69 years old, is the largest individual shareholder in L’Oréal with a nearly 35% stake. She is among a group of French luxury titans whose companies have thrived due to the demand for high-end makeup, clothing, and jewellery, as reported by Bloomberg.
Francoise Bettencourt Meyers currently ranks as the 11th wealthiest person globally, up from No. 14 last year.
Meyer clings to the number one position in the world as the richest woman. Since taking her mother’s spot on the list, the family fortune has continued to thrive under her watch.
This is impressive despite the mother’s fortune she with ingenuity grew her wealth to this cloud. Well-done Ma and keep it up.
This is a great achievement
Congratulations to world richest woman to being topmost wealthy,you can use your wealth to poor and victims peoples.thanks too
It’s great to be rich but bad not to help others..
It is good to be rich but it better to create other people like you but the best of all is to save marginalised group.
I am pleased to hear the announcement that Francoise Bettencourt Myers is the World’s Wealthiest Woman. As a Young Entrepreneur started a business, I look forward to hearing a from you and connecting with you. I am interested in selling Jewelry and high fashion and premium beauty brands.
Its good to lay good foundation. To give back what God has given you.
Hello richest woman.
I am requested if you can help me to borrow a $500, 000. 00 NZD to pay my debt and re build my house please. I’m very struggle at the moment.
Please.
Who told y’all that you can tell her what to do with her wealth. Abeg rest all of you.
We can choose are the parents we are born to rich or poor. But we can choose to be happy or sad, giving or Loving. I also say money does not bring happiness . It is only a tool to be use for our convenient while on earth.. the money belongs to her let her decide what she want to do with it .
It’s really good to be rich. In being rich, please ensure you have Jesus in your heart! That is the best!
It’s really good to be rich. In being rich, please ensure you have Jesus in your heart! That is the best!