Heiress to the L’Oreal cosmetics throne becomes first woman to amass $100 billion

The richest woman in the world has just reached a new milestone, becoming the first woman with $100 billion.

The wealthiest woman in the world has reached a new record, becoming the first woman in history to amass a $US100 billion ($A146.7 billion) fortune.

French woman Francoise Bettencourt Meyers — heiress to the L’Oreal cosmetic empire and businesswoman, achieved this new status due to a rise in the company’s share price.

The 70-year-old’s wealth significantly rose on Thursday, according to the Bloomberg Billionaires Index, marking another milestone for the French businesswoman and for France’s expanding fashion and cosmetics industries.

Her wealth has ballooned by $US28.6 billion ($A41.9 billion) this year, reaching the $US100 billion ($A146 billion) mark.

Ms Bettencourt Meyers remains the 12th wealthiest person in the world, ahead of Indian businessman Mukesh Ambani and behind Carlos Slim, Mexican business magnate and investor.

Notoriusly reclusive, Bettencourt Meyers is an esteemed author, with works related to Greek mythology and Jewish-Christian relationships.

She is also reported to spend hours daily playing the piano.

Francoise Bettencourt Meyers has become the first woman with $100 billion. Picture: Bertrand Rindoff Petroff /Getty Images for L'Oreal Foundation

L’Oreal, the world’s largest cosmetics company, was originally founded by Ms Bettencourt Meyers’s grandfather Eugène Schueller in 1909, whose initial aim was to manufacture and market a hair dye formula he had invented.

Ms Bettencourt Meyers inherited L’Oreal from her mother, Liliane Bettencourt, who previously held the title of the world’s richest woman until she died in 2017.

L’Oreal’s stock has risen 35 per cent over the past year, remaining at a record high, with the stock set for its best year since 1998.

The company reported in 2022 that it had more than €38 billion ($A61.6 billion) in sales and is now valued at €241bn ($A390.8 billion) on the Paris stock exchange.L’Oreal owns a broad portfolio of brands, including Lancome and Maybelline, and recently acquired Australian brand Aesop in a $US2.5 billion ($A3.6 billion) deal, making it the most significant brand acquisition ever made by the French beauty giant.

According to L’Oreal, in 2022, Ms Bettencourt Meyers and her family have remained the largest shareholders within the company, with a stake of nearly 35 per cent.

Celebrities and supermodels have over the years represented the brand, becoming part of the L’Oreal Paris “Dream Team”.

Famous names to use the “Because I’m worth it” slogan include Celine Dion, Beyoncé, Kendall Jenner and Penelope Cruz.

Elle Fanning and Helen Mirren walk the runway during "L’Oreal Paris - Walk Your Worth" Show as part of 2023 Paris Fashion Week. Picture: Pietro S. D'Aprano / Getty Images for L'Oreal Paris

Ms Bettencourt Meyers is vice-chair of the board of L’Oreal, and her sons, Jean-Victor Meyers and Nicolas Meyers, are directors at the firm.

Ms Bettencourt Meyers was not the only person whose riches have skyrocketed this year.

Of the world’s 50 richest people, only 12 have seen their fortunes decrease in 2023, while the remaining 38 watched their piles grow, albeit without adjusting for inflation.

More than 75 per cent of the top 500 richest people in the world have seen their fortunes rise, with their combined net worth surging by $US1.5 trillion ($A2.2 trillion) in 2023, according to the Bloomberg Billionaires Index.

Bernard Arnault, who oversees the LVMH empire of 75 fashion and cosmetics brands, including Louis Vuitton and Sephora, has been announced as the richest person of 2023.

Originally published as Heiress to the L’Oreal cosmetics throne becomes first woman to amass $100 billion