World richest woman, Meyers, loses $1.2 billion

70-year-old French billionaire and owner of L’Oreal, the top cosmetics firm in the world, Francoise Bettencourt Meyers, has recently seen a decline in her net worth.

Meyers who currently stands as the world richest woman saw her net worth dropped to $92.2 billion, according to information gathered from Bloomberg’s billionaire index, a startling $1.2 billion loss.

She formerly had a net worth of $93.5 billion before the decline in market value price.

This financial loss is mostly attributable to the drop in L’Oreal’s stock price. According to data, L’Oreal’s stock was worth €422 two weeks ago, but it is now only worth €407.

According to information obtained, Meyers’ total loss as of Tuesday approached $2 billion. On July 18, 2023, she was the largest loser of the day according to Forbes.

The largest individual stakeholder in L’Oreal is Francoise Bettencourt Meyers, who holds an astonishing nearly 35% of the company.

According to Bloomberg, she is a member of a group of French luxury titans whose businesses have prospered as a result of the high demand for upscale cosmetics, apparel, and jewellery.

Meyers is now ranked 13th on the list of the world’s richest people, up from her position of 14th the year before.

She has held the top spot as the richest woman in the world ever since taking over from her mother, managing the expansion of the family fortune.