Francoise Bettencourt Meyers' achievement in becoming the first woman to amass a $100 billion fortune is indeed remarkable. Her wealth, largely attributed to the cosmetics empire inherited from her mother, has been a significant contributor to her status as the world's richest woman.
The ascent of L’Oreal, established by her grandfather in 1909, into a global powerhouse has greatly influenced Bettencourt Meyers' and her family's substantial wealth. Holding nearly 35% of the company's shares has been a key factor in the notable increase in her fortune by $28.6 billion this year alone.
Interestingly, 2023 was a year marked by significant financial gains for many billionaires, despite global economic challenges like the cost of living crisis. Among the world's 50 richest individuals, only 12 experienced a decrease in their wealth, with the rest witnessing growth, albeit not adjusted for inflation.
In the realm of billionaires, where men predominantly occupy the top rankings, Bettencourt Meyers holds the 12th position. The list is led by figures like Elon Musk, while other wealthy French individuals, such as Bernard Arnault of LVMH, have also seen considerable financial growth.
This accomplishment underlines not only Bettencourt Meyers' individual success but also represents a notable milestone for women in the world of finance and business.
(With Agency Inputs)
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