Who Is Françoise Bettencourt Meyers, World’s Richest Woman?

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Françoise Bettencourt Meyers, the 70-year-old granddaughter of L’Oreal founder Eugène Schueller, is the richest lady on the earth, in accordance with the Bloomberg Billionaires Index.

Bettencourt Meyers is value nearly $88 billion, largely as a consequence of her stake in L’Oreal. She’s in thirteenth place on the Bloomberg listing and has turn out to be $16 billion higher off this 12 months.

This is a take a look at her life and wealth.

Françoise Bettencourt Meyers, 70, is the granddaughter of L’Oreal founder Eugène Schueller.

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Schueller, a pharmacist, based the corporate that was to turn out to be L’Oreal in 1909.

His daughter and Bettencourt Meyers’ mom, Liliane, inherited Schueller’s fortune and management of the corporate upon his demise in 1957.

Alongside together with her husband, André Bettencourt, a French politician, the Bettencourts have been well-known in France for his or her glamorous parties.

However Bettencourt Meyers was much less within the socialite life-style of her mother and father, preferring to remain in and play the piano or learn, Vanity Fair reported.

Bettencourt Meyers had a fraught relationship together with her mom.

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The mother-daughter relationship was strained since Bettencourt Meyers was a youngster.

“Françoise was heavy and gradual,” Bettencourt as soon as stated, per Vanity Fair. “At all times one lap behind me.”

Bettencourt additionally referred to as Françoise “a chilly youngster” in an interview with a French newspaper, per The New York Times.

As an grownup, Bettencourt Meyers selected to concentrate on her profession as an writer.

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The heiress has written books on matters starting from Greek mythology to Judaism and Catholicism.

Her most up-to-date guide, a Biblical commentary entitled “Regard sur la Bible,” was printed in 2008, in accordance with its Amazon web page.

Bettencourt Meyers additionally sits on L’Oreal’s board and chairs the household’s holding firm.

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Bettencourt Meyers has a 33% stake in L’Oreal and is a board member.

Her relationship together with her mom got here to a tipping level when Bettencourt Meyers initiated a decade-long household feud over her inheritance.

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Within the lawsuit, Bettencourt Meyers alleged that photographer François-Marie Banier used his friendship with Liliane Bettencourt to control the aged heiress into giving him some 1.3 billion euros ($1.4 billion) of money, artwork, and life insurance coverage insurance policies, The New York Times reported.

Bettencourt, who was identified with dementia, disputed her daughter’s assertion, stated she freely shared her property with Banier.

In a 2008 letter to Banier, Bettencourt described their relationship to him writing: “With you, I’m like a mom, a lover, all the sentiments go via me. It makes me tremble,” in accordance with Vanity Fair.

Bettencourt Meyers advised a French information journal in 2009 that Mr. Banier’s “goal is obvious: break free my mom from our household to revenue from her. I can’t let it occur.”

The case went to trial in 2015. Bainer was convicted of “abus de faiblesse,” or “abuse of weak spot.”

He was sentenced to 2 and half years in jail and advised to pay Bettencourt 158 million euros million in damages.

The jail sentence and fee have been later reversed in an attraction.

The pair weren’t on talking phrases after Bettencourt Meyers filed the felony criticism in 2009.

^{Liliane Bettencourt and Françoise Bettencourt-Meyers. Thibault Camus/AP by way of BI}

“I do not see my daughter anymore and I do not want to,” Bettencourt stated in a 2008 interview, in accordance with Vanity Fair. “For me, my daughter has turn out to be one thing inert.”

A lawyer concerned within the case advised Vanity Fair: “The mom massacred the daughter, then the daughter massacred the mom.”

In 2011, Bettencourt was positioned under the guardianship of her family as a consequence of considerations over her declining psychological well being.

The lawsuit additionally drudged up long-forgotten household secrets and techniques, together with hypothesis that Bettencourt Meyer’s father Andre and her grandfather have been Nazi sympathizers.

^{Andre Bettencourt and Françoise Bettencourt-Meyers in 1988. James Andanson/Getty Photographs by way of BI}

Bettencourt Meyers’ grandfather, Eugene Schueller, had publicly recommended Adolf Hitler’s “dynamism” within the early years of Nazi Germany and was investigated as a Nazi collaborator after World Warfare II ended, Insider’s Áine Cain reported.

Schueller was additionally a member of a secret society that plotted to overthrow France’s republican authorities within the Nineteen Thirties, Insider reported. The group, which was linked to a number of murders and bombings, was bankrolled by Schueller who hosted its conferences at L’Oréal’s headquarters.

André Bettencourt, Bettencourt Meyers’ father, wrote anti-Semitic diatribes for the pro-German press throughout the struggle, in accordance with Time, although he switched his allegiances and joined the Resistance. He was later decorated for his military service throughout World Warfare II and went on to serve within the French authorities.

Although she was on the profitable aspect of the lawsuit, Bettencourt Meyers was later investigated for allegations of bribing a witness.

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The investigation stemmed from a felony criticism filed by Bainer in 2015, in accordance with Vanity Fair. On the time, Bettencourt Meyers stated the fee she made to the witness was half severance fee, half private mortgage, and never a bribe for the testimony.

That swimsuit and Bettencourt Meyers’ countersuit in opposition to Bainer have been resolved in a secret plea deal in 2016, Vanity Fair reported.

Bettencourt Meyers inherited tens of billions of {dollars} when her mom died in 2017, and useful property like this mansion within the suburbs of Paris …

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The home is situated in Neuilly-sur-Seine, a rich suburb west of Paris. Neuilly-sur-Seine is thought in France as “energy suburb, a spot not solely of wealth however affect,” in accordance with The Independent. It is also residence to actors Christian Clavier, Thierry Lhermitte, Gerard Jugnot, and politician Marine Le Pen.

The Artwork deco mansion and is the place Bettencourt spent her remaining days, Time reported.

… and this mansion overlooking France’s Brittany coast.

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The mansion was one in all Bettencourt’s childhood properties, The New York Times reported.

Bettencourt Meyers lived on this close by residence.

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French police searched this residence in 2010 as part of the investigations surrounding the Bettencourt affair, Bloomberg reported on the time.

Bettencourt Meyers lived there together with her husband Jean-Pierre Meyers.

^{Jean-Victor Meyers, Nicolas Meyers, Francoise Bettencourt Meyers and her husband Jean-Pierre Meyers in 2019. Bertrand Rindoff Petroff/Getty Photographs for Basis L’Oreal by way of BI}

Jean-Pierre Meyers is CEO of French spirits producer Tethys SAS, and can be on the board of Nestle.

The couple has two grownup sons, Jean-Victor and Nicolas. Jean-Victor is on L’Oreal’s board of directors together with Bettencourt Meyers.

Within the years for the reason that controversy involving her household, Bettencourt Meyers’ fortune has grown exponentially.

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Bettencourt Meyers is value $87.8 billion, Bloomberg estimates, making her the world’s wealthiest lady and the thirteenth richest individual.

She and her household management 33% of L’Oréal, the world’s largest cosmetics maker. L’Oréal shares have been up 29% within the first half of 2023, in accordance with Forbes.

The corporate owns mass-market manufacturers like Maybelline, Essie, Garnier, and, in fact, L’Oréal, in addition to high-end magnificence corporations like City Decay, Lancôme, and Kiehl’s. L’Oréal additionally licenses the wonder divisions of luxurious vogue homes together with Yves Saint Laurent and Valentino.

Bettencourt Meyers is not the one French billionaire on the wealthy listing. LVMH chief Bernard Arnault turned the world’s wealthiest individual in December 2022 however relinquished the crown to Elon Musk in June. Arnault is value $175 billion, per Bloomberg, whereas Musk is value $249 billion.

The general wealth of French firm founders and heirs has jumped by $93 billion in 2023 alone, studies Bloomberg.

Bettencourt Meyers has devoted a few of her billions to philanthropy.

^{Françoise Bettencourt-Meyers. Martin Bureau/AFP/Getty Photographs by way of BI}

Bettencourt Meyers hasn’t saved all her cash to herself. In April 2019 she was amongst French billionaires who pledged thousands and thousands after Notre Dame Cathedral caught fire, Insider reported.

Bettencourt Meyers can be the president of the Bettencourt Schueller Basis, the charity she cofounded within the Eighties. It points grants to help analysis within the life sciences and humanities tasks, according to its website.