Francoise Bettencourt Dethroned as World's Richest Woman by Walmart Heiress

Alice Walton, the fortune heiress of Walmart, has reclaimed to the position of the richest woman on the planet and has left the former leader, Francoise Bettencourt Meyers, the heiress of L’Oreal. The Walton’s family has seen their net worth increase beyond $95 billion significantly due to Walmart’s stocks, which have risen by 44% this year and added $25 billion to her worth. With her fortune expected to exceed $100 billion, Walton is poised to become a member of the centi-billionaire league, which currently comprises a few members such as Elon Musk, Bill Gates, and Warren Buffett.

Meanwhile, Bettencourt Meyers who has an L’Oreal’s shareholders position of her family’s heritage has lost $10 billion and is possibly worth $90 billion. This decline is has been attributed to factors such as a 13% decline in share price of L’Oreal due to the volatility of the global markets. Meyers, Bettencourt is now ranked 19th on Bloomberg Billionaires Index, right below Walton 18th. Representing Walton’s brothers, Jim and Rob, are 16th with the net worth of $98 billion and 17th with $96 billion, respectively. Altogether, the share of the four Walton siblings reaches more than 11%, which was inherited from their father, Sam Walton. Altogether, during the years, they have obtained more than $15 billion by selling stocks and receiving dividends, Bloomberg reported.

Francoise Bettencourt Meyers although the largest shareholder with 35% of the L’Oreal share, it is an international cosmetics firm which offer brands that include Garnier, Maybelline among others. For years, Liliane Bettencourt's shares were owned by the family of Bettencourts. Over the death of her mother in the year 2017, Sidney Meyers took control of her shares.

Alice Walton was born on October 7, 1949, in Newport Arkansas, daughter of Wal-Mart founder Sam Walton. She attended Trinity University in Texas, pursuing a Bachelor of Arts in Economics, and started her experience in the finance sector within First Commerce Corporation as an equity analyst and later at Arvest Bank Group as a money manager.

Despite the fact that she benefited from a large share of her father’s Walmart Company’s wealth, Walton rarely engages in retail business. Yet, she has mobilized her energies to the artistic field of endeavor. She opened the Crystal Bridges Museum of American Art in Bentonville in 2011, Arkansas, her hometown, further establishing her passion for the arts.