Françoise Bettencourt Meyers, The Second Richest Woman in the World, Retires from L’Oréal

paris, france - Françoise Bettencourt Meyers, the vice chairwoman of L’Oréal and the second wealthiest woman globally, retires after overseeing a significant decline in the family fortune.

The Retirement of Françoise Bettencourt Meyers

After witnessing the L’Oréal family fortune of billions evaporate, Françoise Bettencourt Meyers (71) has decided to retire from the French cosmetic giant. With a wealth of 73 billion euros, she is Europe's richest woman and the second richest woman in the world. Despite her lack of interest in business, she played a pivotal role in the company.

In March, she will attend her final board meeting at L’Oréal, signaling the end of her tenure as vice chairwoman. Her sons, Jean-Victor and Nicolas, will continue to be involved in the company's operations as the family retains a 35% stake in the publicly traded business.

Years ago, the family fortune exceeded 100 billion euros, and Bettencourt was the world's wealthiest woman. However, due to a decline in L’Oréal's stock value, their current net worth stands at 73 billion euros. Despite this, Françoise has been involved in philanthropic efforts, such as donating 200 million euros towards the restoration of Notre-Dame after the 2019 fire.

Despite the family's immense wealth, there have been internal conflicts, notably between Françoise and her mother, Liliane. The latter played a significant role in transforming L’Oréal into a global powerhouse. Françoise's involvement in the company began in 1997 when she joined the board, although she never actively participated in its day-to-day operations.

Looking ahead, Françoise plans to retire in April and focus on her passions, including playing the piano, writing, and studying religion.