Francoise Bettencourt Meyers with her two sons in Bordeaux, France, in 2015. Photo by AFP
Francoise Bettencourt Meyers, heiress to cosmetics behemoth L’Oréal and world’s second richest woman with US$76.1 billion in net worth, is set to retire from the company’s board in April.
Bettencourt Meyers, 71, will pass her position as vice-chairman over to her son, Jean-Victor Meyers, 38, who currently serves as a director, Bloomberg reported, citing the company’s Thursday earnings statement.
Her position on the board, where she has served for 28 years, will be taken over by Alexandre Benais, deputy CEO of Téthys Invest, the family’s holding company and L’Oréal’s largest shareholder.
The adjustments are set to come into effect following a shareholder vote at the firm’s annual general meeting in April, as reported by Forbes.
Bettencourt Meyers’ fortune stems from a 35% stake in L’Oréal that she inherited from her mother, Liliane Bettencourt.
She became the first-ever woman centibillionaire, or an individual with $100 billion in net worth, in late 2023 before her wealth fell sharply in 2024 as cosmetics sales in China plummeted.
She was previously the richest woman in the world before losing the title to Alice Walton, heiress to the Walmart retail fortune, last year.
She reportedly leads a quiet life in the exclusive Neuilly-sur-Seine commune, one of France’s most affluent locales, according to El País. Her other son, Nicholas Meyers, is also a board member of L’Oréal.
