Françoise Bettencourt Myers, Gustavo Cisneros, Shepherd family

In this week’s FB Roundup, Françoise Bettencourt Meyers becomes the first woman to have a net worth in excess of $100 billion; tributes are paid to Venezuelan media magnate Gustavo Cisneros; and Yorkshire’s Shepherd family sell their Portakabin firm for £1.5 billion.

Françoise Bettencourt Meyers becomes first woman to top $100 billion fortune
The world’s richest woman, Françoise Bettencourt Meyers, has become the first female in history to amass a personal net worth in excess of $100 billion.

According to the newly updated Bloomberg Billionaires Index, the L'Oréal heiress benefitted from the boost in her personal fortune after the French empire founded by her grandfather saw its best stock market performance in decades, thanks to a renewed post-pandemic rise in cosmetics.

Bettencourt Meyers has also increased her private investments through family office Tethys Invest, which she set up with her husband Jean-Pierre Meyers in 2016. Tethys Invest aims to make direct investments in entrepreneurial projects which do not directly compete with L’Oreal, such as retailer Sezane, private equity company General Atlantic and French private hospital operator Elsan.

Bettencourt Meyers and her two sons, Jean-Victor Meyers and Nicolas Meyers sit on the board of L’Oreal. Shares of the cosmetics firm have more than doubled in the past five years, with the company now valued at around $217 billion.

The Billionaires Index, a daily ranking of the world’s richest people, reported that at the end of 2023 Elon Musk kept the title of the world’s richest man with a personal net worth of $229 billion, LVMH owner Bernard Arnault, meanwhile, came in second place with a net worth of $179 billion.

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