Richest Woman in the World’s Wealth Decreases by $7 Billion as L’Oreal Experiences Worst Day in Over a Decade

World’s Richest Woman Loses $6.9 Billion due to L’Oreal Shares Poor Performance

On Friday, the net worth of Francoise Bettencourt Meyers, the world’s wealthiest woman, saw a significant decrease due to the poor performance of L’Oreal shares. The French beauty company is partially owned by the billionaire and her family, and it registered its worst single-day performance since the Great Recession.

Bettencourt Meyers and her family’s fortune fell by $6.9 billion to $91.7 billion on Friday, making her the biggest loser among billionaires that day. Despite the drop, she remains the 15th-richest person on the planet and the richest woman, with a significantly larger fortune than the second-richest woman, Walmart heiress Alice Walton.

The decline in L’Oreal’s stock was sparked by a slowdown in the company’s Asia business, causing its quarterly sales to fall short of analyst estimates. L’Oreal owns subsidiaries such as Kiehl’s, Maybelline, and Garnier. The company’s stock has seen a 9% decline year-to-date, resulting in a $25 billion reduction in market capitalization.

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