19:06 7 February 2025
Europe’s Wealthiest Woman Retires, Son Takes Over L’Oréal Role
Françoise Bettencourt Meyers, the principal shareholder of L’Oréal, is stepping down as vice-chairwoman at 71, passing the role to her son, Jean-Victor Meyers. The Bettencourt Meyers family controls about 35 percent of L’Oréal, with her fortune estimated at $75 billion.
Bettencourt Meyers inherited her stake after her mother died in 2017. She briefly became the world’s richest woman in 2023 with a net worth of $100 billion but was later surpassed by Alice Walton.
The leadership change follows L’Oréal’s 20 percent stock decline over the past year, linked to lower demand in China. Bettencourt Meyers has served on the board for 28 years. The transition will take effect after the company’s April shareholder meeting.
