Françoise Bettencourt Meyers the matriarch of the L’Oréal cosmetics empire is no longer the richest woman in the world.
Alice Walton, the daughter of Walmart founder Sam Walton, has now claimed the title. Walton’s net worth surged to $95.7 billion, according to the Bloomberg Billionaires Index, as Walmart’s stock soared by more than 43% in 2024. This remarkable gain has propelled her to the top of the list of the world’s wealthiest women.
Betterncourt made headlines late last year when she became the first woman to surpass a net worth of $100 billion. However, her tenure as the world’s richest woman was short-lived. Her fortune has since declined to $89.9 billion, largely due to fluctuations in the stock market.
Both Bettencourt Meyers and Walton are heirs to vast fortunes built on enduring family legacies. L’Oréal, founded over a century ago in Paris, remains a global leader in the beauty industry and ranks 90th on the Fortune 500 Europe list.
Meanwhile, Walmart, the largest retailer worldwide, has dominated the Fortune 500 ranking, holding the No. 1 spot for 12 consecutive years, with a staggering $648 billion in revenue for the fiscal year 2024.
The Legacy of L’Oréal
Françoise Bettencourt Meyers, 71, continues to play a pivotal role in the management of L’Oréal, serving as chair of the family holding company Téthys, which controls a significant share of the cosmetics giant. She also serves as vice-chairwoman of L’Oréal’s board, maintaining the legacy of her grandfather, who founded the company in the early 20th century.
Despite recent market challenges, including slowing growth in China, L’Oréal has posted strong earnings, bolstered by its well-known brands like Lancôme, Aesop, La Roche-Posay, and Maybelline. Yet, Bettencourt Meyers’ wealth remains far behind that of LVMH’s Bernard Arnault, whose net worth currently stands at $196 billion.
Walton’s Rise to the Top
Alice Walton, a prominent philanthropist and the 18th wealthiest person globally, derives much of her wealth from her stake in Walmart. The retail giant, known for its aggressive pricing strategy and expansive physical and online presence, continues to thrive in a highly competitive market, outperforming even tech giants like Amazon and Apple in terms of revenue.
Walton, along with her brothers, Rob, Jim, and John, holds significant shares in Walmart through the family holding company Walton Enterprises. Although she initially pursued a career in finance, including founding the investment bank Llama Co., she has since turned her focus to philanthropy. Walton founded the Crystal Bridges Museum of American Art, which houses her extensive art collection and serves as a testament to her commitment to the arts.