2024-02-15 22:08:00
February 15, 2024
Francoise Bettencourt Meyers: Richest woman in the world loses billions in L’Oreal stock crash
It was an unexpected day for the Paris Stock Exchange as shares of L’Oreal, a renowned French cosmetics company, suffered a crash the likes of which the markets had not seen since 2008. FactSet data revealed the surprise plunge, which put investors worldwide on alert.
At the center of this financial drama is Francoise Bettencourt Meyers, a remarkable figure in the world of wealth and beauty. As the granddaughter of the legendary L’Oreal founder Eugène Schueller and the only daughter of the former billionaire Liliane Bettencourt, she is now the company’s deputy CEO.
L’Oreal itself occupies a leading position in the European business world, ranking among the top companies on the continent in terms of market capitalization. It is only behind giants like Novo Nordisk, Nestlé, ASML, LVMH and Hermès. The brand, which stands for quality and prestige, is a true heavyweight in global economic activity.
L’Oreal’s impressive product range includes well-known brands such as Kiehl’s, Maybelline and Garnier, which appeal to millions of customers worldwide. Despite its prestige and success, L’Oreal was not spared from the challenges of the market. A 9% decline in shares year-to-date resulted in a loss of $25 billion in market capitalization.
This dramatic downturn not only rocked the financial world, but also underscored Francoise Bettencourt Meyers’ position as a leading figure in international business. At a time when the global economy is in constant flux, she remains a fascinating figure whose success story continues to attract the attention of investors and observers.
Text: Derek Saul
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