Alice Walton Dethrones L’Oréal Heiress as World’s Wealthiest Woman

Walmart Heiress Alice Walton Surpasses L’Oréal’s Françoise Bettencourt Meyers as World’s Richest Woman

In a significant shift in the global wealth landscape, Alice Walton, daughter of Walmart founder Sam Walton, has overtaken Françoise Bettencourt Meyers as the world’s wealthiest woman. According to Bloomberg’s latest figures, Walton’s net worth has soared to an impressive $95 billion, while Bettencourt Meyers’ fortune has declined to $90 billion.

Walton’s ascent to the top spot can be attributed to Walmart’s exceptional stock performance this year, with shares surging 44% to record highs. This remarkable growth has propelled Walton’s net worth by $25 billion in 2023 alone, bringing her tantalizingly close to the exclusive centibillionaire club.

In contrast, Bettencourt Meyers, granddaughter of L’Oréal founder Eugène Schueller, has experienced a $10 billion reduction in her wealth since January. This decline mirrors the 13% drop in L’Oréal’s share price over the same period.

The reversal of fortunes is striking when compared to the end of last year, when Bettencourt Meyers was worth $100 billion and Walton’s net worth stood at $70 billion. Currently, Bettencourt Meyers ranks 19th on Bloomberg’s rich list, while Walton occupies the 18th position, just behind her brothers Jim ($98 billion) and Rob ($95.8 billion).

The Walton siblings each own more than 11% of Walmart, a legacy of their father’s likely equal division of shares among his four children. Over the years, they have amassed over $15 billion from stock sales and dividends.

Bettencourt Meyers, on the other hand, holds approximately 35% of L’Oréal, the world’s largest cosmetics company, which owns popular brands such as Garnier and Maybelline. She inherited this substantial stake from her mother, Liliane, who passed away in 2017.

As Walton approaches the $100 billion threshold, she stands on the brink of joining an elite group of centibillionaires, which includes notable figures like Elon Musk, Bill Gates, and Warren Buffett.

It’s worth noting that Walton and Bettencourt Meyers are not alone as heiresses near the pinnacle of Bloomberg’s wealth rankings. Other prominent figures include Jacqueline Badger Mars and Abigail Johnson, whose grandfathers founded Mars and Fidelity respectively.

This reshuffling at the top of the world’s wealthiest women list underscores the dynamic nature of global wealth and the significant impact that market fluctuations can have on personal fortunes.