L’Oreal heiress Francoise Bettencourt Meyers has become the first woman to amass a $100bn fortune, according to a ranking of the richest people in the world.

L’Oréal’s stock market performance is soaring, with sales rebounding post-pandemic. Bettencourt Meyers’ net worth surpasses $100bn, making her the 12th richest person globally.

Bettencourt Meyers, the vice-chairperson of L’Oréal’s board, became the reigning heiress after her mother, Liliane Bettencourt, died in 2017. Her daughter, Françoise, controls her wealth and income.

Bettencourt Meyers, a renowned pianist and author, prefers privacy over attending social events. She has written two books and lives mainly within her family, according to Tom Sancton, author of The Bettencourt Affair.