Bettencourt Meyers keeps her life private, shunning the glitzy social life sought by many the world’s wealthy. She has written two books — a five-volume study of the Bible and a genealogy of the Greek gods — and is known for playing piano for hours every day.
Stock Rebound
As an only child, Bettencourt Meyers came into her wealth following the 2017 death of her mother, Liliane Bettencourt, with whom she had an at times contentious relationship. A legal battle in the aughts grew from a family feud to a political scandal that centered on whether the elderly mother was fit to manage the family’s wealth. Last month, Netflix Inc. came out with a three-part documentary, L’Affaire Bettencourt, relating the saga that featured a former French president and secret recordings made by a butler.
L’Oréal grew rapidly in the decade leading up to the pandemic but took a hit during the health crisis when people under lockdown used less makeup. That was followed by a rapid rebound as consumers splurged on luxury items, sending the shares up 35% this year.
The company’s stock could rise another 12% over the next year as its product and geographic diversity shows resilience, according to Consumer Edge Research analyst Brett Cooper.
Bettencourt Meyers also chairs her family’s holding company, Téthys, which has the L’Oréal stake. Her husband, Jean-Pierre Meyers, is chief executive. In 2016, the two set up subsidiary Téthys Invest SAS, which bets on areas that don’t compete with the company.
With the stated intention of making “direct long-term investments in entrepreneurial projects,” the CEO of Téthys Invest is Alexandre Benais, a former Lazard Ltd. investment banker.
Téthys Invest recently acquired a stake in French insurance broker April Group. Last year, it bought into decade-old fashion brand Sezane, and has also invested in French private hospital operator Elsan. The firm is partly funded by L’Oréal dividends.
