The L'Oréal heiress becomes the richest woman in the world

L'Oréal heiress Françoise Bettencourt Meyers has become the first woman to amass a fortune of $100 billion, according to a ranking of the world's richest people.

The French beauty empire founded by her grandfather is on track for its best stock market performance in decades.

L'Oréal shares rose to a record high in Paris on Thursday.

The firm has seen its sales rebound after the pandemic, when people in isolation used less cosmetics.

70-year-old Bettencourt Meyers' net worth surpassed $100 billion on the Bloomberg Billionaires Index, making her the 12th richest person in the world.

She is still far behind French counterpart Bernard Arnault, who was second on the list with a net worth of $179 billion. Arnault is the founder of LVMH, the world's largest luxury group, which owns a portfolio of high-end brands including Fendi and Louis Vuitton.

Bettencourt Meyers is vice chairman of the company's board. She and her family are L'Oréal's largest shareholders with a stake of around 35%. She became the heir apparent to L'Oréal after her mother, Liliane Bettencourt, died in 2017.

Liliane, who was named France's richest person, was embroiled in a public war with Françoise, her only child, who had accused a photographer of taking advantage of her mother's mental frailty.

"My daughter could have waited patiently for my death instead of doing everything she could to hasten it," she said in a television interview.

In 2011, a French court ruled that Liliane had a form of dementia and gave François control over her property and income. Another family member was tasked with looking after Liliane's health and physical well-being.

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