Richest Women: L’Oréal Heiress Francoise Bettencourt Meyers Faces $26 Billion Wealth Decline

Francoise Bettencourt Meyers, the L’Oréal heiress who held the title of the world’s richest woman at the close of 2023, has experienced a sharp financial setback in 2024. Her net worth has dropped by $26 billion, reducing her fortune to $74 billion. This decline makes her the second-largest wealth loser of the year in Europe, behind only Bernard Arnault, the French billionaire heading luxury conglomerate LVMH.

Bettencourt Meyers, who serves as vice-chair of L’Oréal’s board, has seen her wealth diminish due to the cosmetics giant’s recent struggles. L’Oréal shares have fallen by 25% this year, primarily due to weaker-than-expected demand in China, a crucial market for the beauty industry.

The challenges faced by L’Oréal reflect broader difficulties in the luxury and beauty sectors, which continue to grapple with a slow post-pandemic recovery and cautious consumer spending.

Despite these financial headwinds, Bettencourt Meyers remains a key figure in French business through her family’s private investment firm, Téthys Invest. Téthys, which is L’Oréal’s largest shareholder, relies in part on dividends from the cosmetics company to fund its operations.

As the chair of Téthys, Bettencourt Meyers oversees a diverse portfolio of investments across industries, including pet care, software, fashion, and education. Notable holdings include stakes in Septeo SAS, a French software company; fashion retailer Sezane; and Galileo Global Education, a leading provider of educational services.

Bettencourt Meyers is the only child of Liliane Bettencourt and the granddaughter of Eugène Schueller, the founder of L’Oréal. Following her mother’s passing in September 2017, her wealth saw a substantial increase due to rising L’Oréal share prices and her investments through Téthys Invest.

Have you read?
Richest Billionaire Investors.
Billionaire Winners.
Billionaire Losers.
Best Business Schools.
Best Hotel Schools.