Bettencourt Meyers, 69, is the biggest single shareholder in L’Oreal with a near-35% stake. She’s one of a clutch of French luxury titans whose companies have benefited from demand for high-end makeup, clothes and jewelery. The ultra-wealthy group also includes Bernard Arnault, the world’s richest person and founder of fashion empire LVMH, and rival Francois Pinault, who started Kering SA, owner of brands like Gucci and Balenciaga.
Arnault is worth $188.3 billion, according to the Bloomberg Billionaires Index, while Bettencourt Meyers is No. 12 in the ranking with an estimated $81.1 billion. The Wertheimer siblings are 24th and 25th with €48.3 billion each, and Pinault ranks 30th with $41.4 billion. As a leader in the global skincare market, L’Oreal could benefit from higher-than-expected demand for beauty products should China rebound this year, UBS analysts including Guillaume Delmas wrote in a note published Friday. The shares have more than doubled in the past five years, valuing L’Oreal at €205 billion .
With a reclusive reputation, Bettencourt Meyers is on the board of L’Oreal along with her two sons, Jean-Victor Meyers and Nicolas Meyers. She has written two books — a five-volume study of the Bible and a genealogy of the Greek gods — and is known for playing piano for hours every day. She came into her fortune following the death in 2017 of her mother, Liliane Bettencourt.Villepelet is set to start at the investment firm next month.
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L’Oreal billionaire hires McKinsey partner for family’s investment firmFrancoise Bettencourt Meyers names Cyrielle Villepelet, most recently a partner in the Paris office of consultant McKinsey, as MD of Tethys Invest
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