The Legacy of L’Oréal
L’Oréal was founded in 1909 by Parisian pharmacist Eugène Schueller. Schueller’s innovative hair color formula made the company a huge success during his lifetime. But it wasn’t until after his death in 1957 that L’Oréal experienced exponential growth. Today, the company employs more than 85,000 chemists worldwide and generates billions in sales.
Under the leadership of Schueller’s daughter, Liliane Bettencourt, and her husband, André Bettencourt, L’Oréal continued to expand its product offerings and enter new markets. The company’s portfolio now includes popular brands such as Maybelline, Garnier, Lancôme, and Kiehl’s. This diversification has played a key role in L’Oréal’s dominance of the cosmetics industry.
Liliane Bettencourt inherited her father’s stake in L’Oréal and became a prominent figure in the business world. After her death in 2017, her daughter, Françoise Bettencourt Meyers, took over as the reigning heiress of L’Oréal and the richest woman in the world. With her mother’s fortune now in her hands, Bettencourt Meyers has taken on a significant role within the company.
The Wealth of Françoise Bettencourt Meyers
Françoise Bettencourt Meyers’ net worth has skyrocketed in recent years, reaching a staggering $86.4 billion by 2023, according to Forbes. This increase can be attributed to the continued success of L’Oréal and the growing demand for luxury goods and beauty products worldwide. The company’s strong revenue growth in the first quarter of 2023 has driven its stock to record highs, further increasing Bettencourt Meyers’ wealth.
Elevate Your Wealth Game: Empowering UHNWIs for Simplified Asset Management. Altoo Platform Preview
As Chairwoman of L’Oréal’s Board of Directors and its largest shareholder with a stake of nearly 35%, Bettencourt Meyers wields significant influence over the company’s operations. Her strategic decisions and vision have guided L’Oréal’s modernization efforts, with an emphasis on sustainability and social responsibility. By adapting to changing consumer preferences and maintaining its market leadership, L’Oréal has remained at the forefront of the cosmetics industry.
Philanthrophy & A Life Shaped by and Books
Bettencourt Meyers’ commitment to making a positive impact extends beyond the boardroom. She is President of the Bettencourt Meyers Family Foundation, a philanthropic organization that supports initiatives in science, the arts and social progress in France. Additionally, in a remarkable act of generosity, L’Oréal and the Bettencourt Meyers family pledged $226 million to help repair Notre Dame Cathedral after the devastating fire in 2019.
While L’Oreal has been the cornerstone of Bettencourt Meyers’ wealth, her personal life has been equally compelling. Born into a family known for its glamorous parties, she developed a different interest from her parents’ socialite lifestyle. Instead, she found solace in playing the piano and immersing herself in literature. Vanity Fair reported that she often chose to stay home and read rather than attend the lavish social events for which her parents were known.
Bettencourt Meyers also pursued a career as an author, with a wide range of subjects in her repertoire. Her books have explored topics such as Greek mythology, Judaism, and Catholicism. One of her most recent works, “Regard sur la Bible,” a commentary on the Bible, was published in 2008.
