Francoise Bettencourt Meyers, the heiress of the L’Oréal fortune, has seen her wealth decrease significantly in 2024, losing $26 billion to approximately $74 billion. This decline makes her one of the largest wealth losers this year, according to the Bloomberg Billionaires Index, as L’Oréal shares fell 25% due to weak demand in China.
- Francoise Bettencourt Meyers reached $100 billion wealth.
- Her fortune dropped by $26 billion in 2024.
- Téthys Invest supports various French ventures.
- L’Oréal shares fell 25% due to demand.
- Bettencourt Meyers inherited L’Oréal from her mother.
- Alice Walton surpassed her as richest woman.
Bettencourt Meyers, 71, is the vice chair of L’Oréal’s board and inherited the company from her mother, Liliane Bettencourt, in 2017. She was the first woman to reach a fortune of $100 billion in 2023. However, her wealth has declined sharply this year, primarily due to a sluggish recovery in the beauty industry post-pandemic and a significant drop in L’Oréal’s stock price.
Key details include:
- Current wealth: $74 billion.
- Wealth loss in 2024: $26 billion.
- Percentage drop in L’Oréal shares: 25%.
Despite these financial challenges, Bettencourt Meyers remains active in supporting various French businesses through her investment firm, Téthys Invest. This firm, which she chairs, is also the largest shareholder of L’Oréal. The family has increased its investment activities, engaging in a diverse range of sectors, including pet care, fashion, and education. Notable stakes include companies like Septeo SAS and Galileo Global Education.
As L’Oréal navigates a challenging market environment, Bettencourt Meyers’s continued investments reflect her commitment to fostering growth in the French economy. While she has lost her title as the world’s richest woman to Alice Walton, her influence in the business sector remains significant, especially as she manages a substantial portion of L’Oréal’s legacy.
In summary, Francoise Bettencourt Meyers has experienced a dramatic decline in her wealth in 2024, yet she continues to invest in various sectors through her family’s firm. Her situation underscores the volatility of billionaire fortunes and the challenges faced by major companies like L’Oréal in the current economic climate.
