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Reclusive L'Oréal heir becomes first woman to have a $100 billion fortune
Featured Image Credit: Bertrand Rindoff Petroff/Getty Images for Fondation L'oreal / Bertrand Rindoff Petroff/Getty Images for Fondation Bettencourt-Schueller

Reclusive L'Oréal heir becomes first woman to have a $100 billion fortune

The heir has become the first woman to be worth $100 billion after L'Oréal stock rose in value

A L'Oréal heir has become the first woman worth more than $100 billion.

Françoise Bettencourt Meyers reportedly spends most of her time at home playing the piano or reading.

The heir to L'Oréal has also written a study of the Bible, which is some five volumes long, as well as a genealogy of the Greek Gods.

But now, Bettencourt Meyers has become the first woman to be worth more than $100 billion.

She made it over the line following a huge climb in L'Oréal stock, which has dramatically increased her net worth.

Bettencourt Meyers, 70, is the grand-daughter of L'Oréal's founder, Eugène Paul Louis Schueller - who created the brand in 1909 to manufacture and sell a hair dye he had invented.

The French company flourished during the 1930s and the 1940s and went on to establish itself as one of the world's largest brand of cosmetics.

Bettencourt Meyers and her family own around 35 percent of shares in the company. She is also a vice-chairperson on the company's board, the BBC reports.

And the increase in stock value also makes Bettencourt Meyers the richest woman in the world - with her total value being around $100.1 billion.

Not bad.

Francoise Bettencourt Meyers now is the richest woman in the world.

And, in case you were wondering, that 0.1 at the end there represents $10 million.

According to the Bloomberg billionaires list - which is updated at the close of each trading day in New York - Bettencourt Meyers has seen her wealth increase by some $184 million at the last change.

Bettencourt Meyers inherited enormous amounts of stock and property when her mother Liliane Bettencourt, who was also referred to as France's richest woman, died in 2017.

The mother and daughter had also been in a feud surrounding her inheritance, Business Insider reports.

Shares in L'Oréal shares closed 0.6 percent higher on Thursday (December 28), placing them at 451.30 euros - which means that stock is up 35 percent year-to-date.

She is worth more than $100 billion.
NICOLAS TUCAT/AFP via Getty Images)

Although she is now worth more than $100 billion, Bettencourt Meyers is still not the highest ranked retail business person, however, with the top spot going to French retail mogul Bernard Arnault, who founded LVMH Moët Hennessy Louis Vuitton.

Last year, Arnault himself even beat out by Elon Musk as the world's richest person - however, the Tesla CEO has since regained his crown.

And close on Bettencourt Meyer's heels as the second richest woman in the world is fellow retail heir Alice Walton - who is worth around $61.3 billion, according to Forbes.

Walton is the only daughter of Walmart founder, Sam Walton.

Topics: News, US News, Business, Money