Alice Walton, the Walmart heiress, has claimed the title of the world's wealthiest woman, surpassing Francoise Bettencourt Meyers, as per a report by Business Insider. Her net worth has skyrocketed to over $95 billion, fueled by a remarkable 44% increase in Walmart's stock price this year, resulting in a staggering $25 billion addition to her wealth. If her wealth continues to rise and surpasses the $100 billion threshold, she will join the exclusive group of centi-billionaires, which includes Elon Musk, Bill Gates and Warren Buffett.
In stark contrast, Francoise Bettencourt Meyers, heiress to the L'Oreal cosmetics empire, has experienced a significant decline in her net worth, losing $10 billion this year. Her current wealth stands at $90 billion, down from its previous peak. This downturn is largely attributed to a 13% decline in L'Oreal's share price since the start of the year, highlighting the unpredictable nature of global markets.
According to the Bloomberg Billionaires Index, Francoise Bettencourt Meyers holds the 19th spot, while Alice Walton secures the 18th position, closely following her brothers Jim (16th) and Rob (17th), with net worths of $98 billion and $96 billion, respectively. The Walton siblings each possess over 11% of Walmart's shares, inherited from their father, and have collectively accumulated more than $15 billion from stock sales and dividends over time, as estimated by Bloomberg.
Meanwhile, Ms Meyers holds a significant 35% stake in L'Oréal, the world's largest cosmetics company, which boasts a portfolio of renowned brands such as Garnier and Maybelline. She inherited this substantial shareholding from her mother, Liliane Bettencourt, who died in 2017, leaving behind a cosmetics empire that has been in their family for generations.
About Alice Walton
Born on October 7, 1949, in Newport, Arkansas, Alice Walton is the daughter of Sam Walton, the founder of Walmart, the world's largest retailer. She is an American heiress, socialite, and philanthropist, who lives on a ranch in Texas. Ms Walton graduated from Trinity University in San Antonio, Texas, with a Bachelor of Arts degree in Economics.
She launched her career as an equity analyst and money manager at First Commerce Corporation and Arvest Bank Group, developing her expertise in finance. She then transitioned to brokerage with EF Hutton before establishing Llama Company in 1988, where she served as president, chairwoman, and CEO.
Ms Walton inherited a significant portion of her father's Walmart fortune after he died in 1992. However, she now mostly focuses on curating art, rather than working for Walmart like her siblings, Rob and Jim. In 2011, she opened the Crystal Bridges Museum of American Art in her hometown of Bentonville, Arkansas, as per Forbes.
