Alice Walton, the heiress to the Walmart fortune and daughter of the retail giant’s founder, Sam Walton, has ascended to the position of the world’s wealthiest woman. According to the Bloomberg Billionaires Index, Walton’s net worth has surged beyond $95 billion for the first time, placing her at the top of the list. This remarkable rise is attributed to the sharp increase in Walmart’s stock price, which has soared by 44% to a record high this year. As a result, Walton’s fortune has grown by an impressive $25 billion in 2023 alone.
In contrast, Françoise Bettencourt Meyers, the heiress to the L’Oréal cosmetics empire, has experienced a significant decline in her wealth. Bettencourt Meyers, who is the granddaughter of Eugène Schueller, the founder of L’Oréal, has seen her net worth drop by $10 billion this year, bringing her total to $90 billion. This decline is largely due to a 13% decrease in L’Oréal’s share price since the beginning of the year.
The shift in fortunes between the two heiresses is striking when compared to the situation at the end of last year. At that time, Bettencourt Meyers was worth $100 billion, while Walton’s net worth was significantly lower at $70 billion. However, the dramatic rise in Walmart’s stock has propelled Walton past Bettencourt Meyers, making her the wealthiest woman in the world.
As of now, Bettencourt Meyers ranks 19th on Bloomberg’s list of the world’s richest people, while Walton has climbed to 18th place. Interestingly, Walton’s position is just behind her two brothers, Jim Walton, who is worth $98 billion, and Rob Walton, with a net worth of $95.8 billion. The three siblings each hold more than 11% of Walmart, based on the assumption that their father evenly divided his shares in the company among his four children. Over the years, the Walton siblings have also amassed more than $15 billion from stock sales and dividends, according to Bloomberg’s estimates.
Bettencourt Meyers, on the other hand, owns approximately 35% of L’Oréal, the world’s largest cosmetics company. The company, known for its brands such as Garnier and Maybelline, has been a cornerstone of her family’s wealth for generations. Bettencourt Meyers inherited her substantial stake in L’Oréal from her mother, Liliane Bettencourt, who passed away in 2017.
The potential for Walton’s wealth to continue its upward trajectory is significant. Should her net worth surpass the $100 billion mark, Walton would join an exclusive group of centibillionaires, a club that currently includes titans such as Elon Musk, Bill Gates, and Warren Buffett. This milestone would further solidify her status not only as the richest woman in the world but also as one of the wealthiest individuals globally.
Walton and Bettencourt Meyers are not the only heiresses near the top of Bloomberg’s list of billionaires. Other notable female billionaires include Jacqueline Badger Mars and Abigail Johnson, both of whom have inherited significant fortunes. Jacqueline Badger Mars is the heiress to the Mars candy empire, while Abigail Johnson’s wealth comes from Fidelity Investments, the financial services firm founded by her grandfather.
The dramatic shifts in wealth between these women underscore the volatility and rapid changes in the world of billionaires. Stock market fluctuations, company performance, and broader economic trends can have profound impacts on individual fortunes, as evidenced by the differing fates of Walton and Bettencourt Meyers this year. However, despite these fluctuations, the influence and economic power wielded by these women remain formidable.
Walton’s ascent to the top of the world’s wealthiest women is a testament to the enduring legacy of her father’s retail empire. Walmart, founded by Sam Walton in 1962, has grown into one of the largest and most successful companies in the world, with a vast network of stores and a significant presence in the global retail market. The company’s success has not only enriched the Walton family but also solidified their position as one of the most powerful families in the world of business.
Meanwhile, Bettencourt Meyers’ fortune is deeply rooted in the cosmetics industry, a sector that has seen significant growth and evolution over the years. L’Oréal, founded by her grandfather, has become a global leader in beauty and cosmetics, with a portfolio of well-known brands that are household names around the world. Despite the recent decline in the company’s stock price, L’Oréal remains a dominant force in the industry, and Bettencourt Meyers’ wealth continues to be substantial.
The contrasting fortunes of Walton and Bettencourt Meyers highlight the diverse sources of wealth among the world’s richest individuals. While Walton’s wealth is tied to the retail sector, Bettencourt Meyers’ fortune is linked to the beauty and cosmetics industry. Both sectors have their own unique challenges and opportunities, and the success of these two women is a reflection of their ability to navigate these complex industries.
As the global economy continues to evolve, it will be interesting to see how the fortunes of these two women, and other female billionaires, change in the coming years. For now, Alice Walton’s position as the world’s richest woman is a significant milestone, marking a new chapter in the ongoing story of wealth and power among the world’s elite.
