Meet L’Oréal heir Jean-Victor Meyers, who’s set to inherit the multibillion-dollar cosmetics empire from his mother Françoise Bettencourt Meyers – the world’s richest woman
From its origins in France over 110 years ago, L’Oréal has grown into a household name and the biggest cosmetics company on the planet. The company now boasts an impressive portfolio with a long list of beloved brands, such as Garnier, Maybelline, Lancôme and NYX Cosmetics.
In its 2021 annual results, L’Oréal disclosed that its sales revenue for that year reached a staggering €32.28 billion (US$35.5 billion).
What do we know about the fashion-loving, media-shy cosmetics scion? Read on for more.
His family heritage is fascinating
Born into an affluent dynasty that has survived for so long, it’s unsurprising that Jean-Victor’s family story is an interesting one. He was raised in a Jewish home – somewhat ironic as over the years it has been revealed that Jean-Victor’s great-grandad, Eugene, supported fascist and anti-Semitic groups in France in the first half of the twentieth century.
Françoise Bettencourt Meyers, Schueller’s granddaughter and Jean-Victor’s mother, married Jean-Pierre Meyers, who comes from a renowned French Jewish family. Jean-Pierre’s grandfather was a celebrated rabbi who was ultimately sent to Auschwitz concentration camp, where he was killed by Nazis.
Who’s the richest Rolling Stones member? The band’s net worths, ranked
His mum is the richest woman in the world, and his grandmother used to be
After the 2017 passing of his grandmother and the then-L’Oréal matriarch, Liliane Bettencourt, Jean-Victor’s mother and Liliane’s only child, Françoise, assumed the position of heir to the family fortunes, and with it, the title of the world’s richest woman.
As of the end of March 2022, Forbes reported Françoise to have a net worth of US$77.2 billion. This makes her not only the wealthiest woman, but overall the 12th richest person on Earth.
He was close to his grandmother and, at 25, replaced her as L’Oréal director
Jean-Victor sits on the company’s board of directors. He gained this lucrative role in 2012, replacing his grandmother. Jean-Victor was close to her and often acted as an intermediary between his grandmother and mother, whose relationship was notoriously bad.
In 2011, Françoise appealed to the courts to put her mother under guardianship. Due to the L’Oréal matriarch’s ailing health and declining mental state, Françoise attained full control of her mother’s wealth and assets.
Who is billionaire Tyler Perry, one of the richest men in entertainment?
When he replaced his grandmother on the board of directors, Jean-Victor was 25 years old, making him the youngest director of a publicly listed company in France. At the time it was reported by Le Journal du Dimanche that Jean-Victor’s post brought him annual earnings of around US$66,000-US$120,000.
His family was rocked by one of France’s biggest scandals
Before her passing at the age of 94, Liliane Bettencourt, and indeed the entire Bettencourt-Meyers family, were embroiled in a slew of major scandals, beginning in 2010 and which ultimately became known as the Bettencourt Affair.
The case drew ravenous media attention, becoming one of the biggest scandals in recent French history. It started when Françoise accused photographer, artist and writer, Francois-Marie Banier – her mother’s close friend and confidant – of swindling the heiress out of hundreds of millions of euros. Amid the media frenzy that ensued, it was also reported that the Bettencourt matriarch had improperly used the family’s wealth and connections to influence politics in the country. The allegations went as high up as to the then-president Nicolas Sarkozy.
It was no secret that Jean-Victor’s mother and grandmother did not have the best relationship. According to Vanity Fair, “Relations between them had been fraught ever since Françoise’s teen years. More interested in her books and piano than in the glittery social life led by her parents, Françoise seemed to fall short of her mother’s expectations.”
It was therefore said that the lavish gifts of cash, art and property that Liliane showered upon Banier created resentment within Françoise. As a lawyer involved in the case told Vanity Fair: “The mother massacred the daughter, then the daughter massacred the mother.”
How Charlene Ree balances her business, Instagram – and being a mum
He started his own fashion label
Known for shying away from excessive media attention, Jean-Victor Meyers maintains a relatively low profile as one of Europe’s wealthiest sons. After studying in France and the US, Meyers began to combine his love of fashion with his proclivity towards business.
He worked as a sales intern at a Louis Vuitton store and later as an assistant product manager at Yves Saint Laurent Beauté. He also started his own brand, called Exemplaire, a high-end men’s fashion label.
- The group owns Garnier, Maybelline, Lancôme and NYX Cosmetics – but scandal swirling around its former matriarch Liliane Bettencourt once involved former president Nicolas Sarkozy
- Jean-Victor interned at a Louis Vuitton store and also worked for Yves Saint Laurent before launching his own brand, Exemplaire, a high-end men’s fashion label