Francoise Bettencourt Meyers, the world’s richest woman, and Bernard Arnault, the Louis Vuitton boss, collectively lost $6 billion in net worth recently, according to data from the Forbes Billionaires Index. Bettencourt Meyers saw her wealth drop by $2.9 billion, while Arnault’s valuation fell by $3 billion.
At 70 years old, Bettencourt Meyers, heiress to the L’Oréal empire, derives much of her wealth from the renowned beauty company, despite L’Oréal facing significant financial setbacks this year, contributing to a drop from her peak net worth of $100 billion in December 2023 to approximately $91.8 billion currently. Related Stories LVMH billionaire, Bernard Arnault buys shares in rival Johann Rupert’s Richemont World’s richest woman, Françoise Bettencourt’s Loreal wants stake in €3 billion luxury perfume company Earlier, Nicolas Hieronimus, CEO of L’Oréal SA, adjusted the company’s growth expectations for the global beauty market downward, citing challenges in China that have dampened sales after years of robust expansion.
L’Oréal now anticipates the global beauty market to grow between 4.5% and 5% this year, down from an earlier forecast of 5%. Following the announcement, L’Oréal’s shares experienced a notable decline in Paris, dropping by as much as 5.
1% before closing 3.4% lower. These market reactions underscore concerns over the company’s future performance amidst challenging global economic conditions.
Despite these challenges, .
