Francoise Bettencourt Meyers to Become World’s Richest Woman Once Again Amid Luxury Stock Surge

Alice Walton’s brief reign as the world’s richest woman ended Thursday when Francoise Bettencourt Meyers, the heiress to the L’Oréal fortune, regained the top spot. Meyers saw her net worth surge to $93.1 billion, surpassing Walton’s $90.4 billion, following a strong rally in European luxury stocks tied to a Chinese economic stimulus package.

Earlier this month, Walton had overtaken Meyers to claim the title, but the positions shifted once again when L’Oréal shares closed up nearly 7%, reaching $408.65, a price not seen since July. This $5.5 billion boost in Meyers’ wealth came on the back of L’Oréal’s performance, which benefited from increased investor confidence in China’s luxury market.

In contrast, Walton’s net worth dipped by $1.3 billion as Walmart shares dropped nearly 2%, closing at $79.92. The decline coincided with a less favorable trading day for the retail giant.

The rise in L’Oréal’s stock, driven by the company’s significant presence in China—its second-largest market—came as European luxury brands with exposure to China saw gains after the country announced a multi-hundred-billion-dollar stimulus plan. The package includes an estimated $142 billion in support for state banks, aimed at stabilizing China’s struggling real estate sector and providing relief to cash-strapped local governments.

As of December 2023, Meyers and her family control 34.7% of L’Oréal’s shares, further solidifying their financial influence. Walton’s brief stint as the wealthiest woman began about three weeks ago when she climbed the ranks to become the 18th-richest person globally. Walmart’s stock has risen more than 50% this year, compared to a 9% decline in L’Oréal’s shares over the same period. However, the recent stimulus package has significantly bolstered L’Oréal’s stock, helping Meyers reclaim her spot as the world’s richest woman.

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