Meyer's Soaring Net Worth: World's Richest Woman Hits a Remarkable $92.6 Billion
Home Lifestyle Billionaires Meyer’s Soaring Net Worth: World’s Richest Woman Hits a Remarkable $92.6 Billion
Billionaires - July 5, 2023

Meyer’s Soaring Net Worth: World’s Richest Woman Hits a Remarkable $92.6 Billion

Francoise Bettencourt Meyers, French businesswoman and the world’s wealthiest woman, experiences a modest uptick in her net worth.

Recent data from Bloomberg and the Forbes Billionaire Index reveals a noteworthy financial trajectory for the 69-year-old billionaire. Starting the year with a net worth of $80.5 billion, she has since witnessed a remarkable surge, accumulating an impressive increase of $12.1 billion.

Meyers, despite encountering setbacks, retains her status as the world’s richest woman.

The foundation of Meyers’ wealth predominantly lies in her ownership stake in L’Oreal, the leading global cosmetics company.

As per a company statement released on September 21, 2017, Meyers acquired her stake in L’Oreal through inheritance following the passing of her mother, Liliane, at the age of 94. According to L’Oreal’s 2021 annual financial report, Meyers and her family currently possess a 33.3% ownership of the company’s share capital.

It is noteworthy that a considerable portion of Meyers’ wealth is derived from her family’s inheritance.

What led to Meyers’ net worth growth

According to this report, a breakdown indicates that as of the current report, L’Oreal’s stock prices are showing a bullish trend, standing at $422, as opposed to $427 on July 3, 2023.

Upon reviewing June 5, 2023, it is evident that the stock price of L’Oreal stood at $407, indicating a subsequent growth between that period and the present.

In L’Oreal’s first-quarter report released in April, it was disclosed that the group experienced a notable increase in sales, with a growth rate of +13.0%. The net impact of changes in the scope of consolidation contributed to a +1.0% increase. When considering the reported figures, group sales demonstrated a significant rise of +14.6%, amounting to 10.38 billion euros.

In response to these figures, Nicolas Hieronimus, the CEO of L’Oréal, expressed his comments by stating:

“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.

Nicolas further says “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,” he added.

What you should know about Meyer

Bettencourt Meyers, who is 69 years old, holds the largest individual stake in L’Oréal, accounting for nearly 35% of the company. As highlighted by Bloomberg, she belongs to a group of French luxury industry leaders whose businesses have prospered due to the strong demand for high-end makeup, clothing, and jewelry.

Francoise Bettencourt Meyers, at present, holds the 11th position among the world’s wealthiest individuals, a notable rise from her previous rank of 14th. Maintaining her status as the wealthiest woman globally, she has successfully retained the top position since inheriting her mother’s position on the list. Under her stewardship, the family fortune has continued to flourish.

Leave a Reply

Check Also

Meet the Top 5 Wealthiest Nigerians Who Regularly Revel in Dubai’s Luxuries

Dubai, known for its glittering skyline and luxurious lifestyle, is a dream destination fo…