Billionaires
Women have been climbing up the billionaires’ lists, with 337 women billionaires in 2023 compared to 327 in 2022, according to Forbes. Here are the billionaire women who inherited their fortunes in luxury beauty and fashion empires. Some are leading their companies, while others control sizable shares. Net worths are as of June 13, 2023.
Francoise Bettencourt Meyers & family
in cash from the sale, after deducting estimated taxes, minting a new billionaire. Estée Lauder Companies’ net sales declined by 12%, with a total of $3.75 billion for its third quarter ended March 2023, compared to $4.25 billion the year before.
Net worth: $87.1 billion Brand: L’Oréal The richest woman on the planet for the third year in a row, L’Oréal heiress Françoise Bettencourt Meyers is the granddaughter of the founder of L’Oréal. She owns around 33% of L’Oréal stock with her family. She has served on L’Oréal’s board since 1997 and is chairwoman of the family holding company. In 2022, L’Oréal was the leading beauty manufacturer in the world, with revenues amounting to $40.8 billion, covering 14% of the global market share, according to Statista. L’Oréal Group recorded $11.3 billion in sales in Q1 2023, recording a 13% annual increase like-for-like.
Miuccia Prada Net worth: $5.3 billion Brand: Prada Miuccia Prada inherited the handbag and fashion empire in 1977, along with her siblings Alberto and Marina. Her grandfather founded Prada in 1913, and she and her husband, fellow billionaire Patrizio Bertelli, led the brand as co-CEOs until stepping down in December 2022. In 2022, Prada Group generated global net sales of more F O R B E S M I D D L E E A S T.C O M
Marisa Del Vecchio, Paola Del Vecchio, Nicoletta Zampillo Net worth: $3.7 billion each Brand: EssilorLuxottica
Jane Lauder, Aerin Lauder
than $4.4 billion. The group recorded double-digit growth in the first quarter of 2023, with retail sales of more than $1 billion, up 23% year-on-year at constant exchange rate.
Jane Lauder, Aerin Lauder Net worth: $3.8 billion; $2.5 billion Brand: Estée Lauder Estée Lauder was cofounded by the Lauders’ grandmother in 1946 and today has over 20 brands, with net sales
of $17.7 billion for the fiscal year ended June 2022. Jane joined the company in 1996, she is the executive vice president, enterprise marketing and chief data officer at the company and has served on the company’s board since 2009. Aerin is the company’s style and image director. In November 2022, Estée Lauder Companies signed an agreement to acquire fashion firm Tom Ford for $2.3 billion in cash and debt, plus $300 million in deferred payments. Forbes estimates that Tom Ford will receive $1.1 billion
The world’s largest eyeglasses firm was established by Del Vecchio’s father, Leonardo Del Vecchio. Marisa and her sister Paola each inherited a 12.5% stake in their father’s Luxembourg-based holding company Delfin after his death, along with their stepmother, Nicoletta Zampillo, and five other siblings, according to Forbes. Delfin has shares in the French-Italian eyewear group EssilorLuxottica, as well as insurer Generali, banks Mediobanca and UniCredit, and real estate developer Covivio. In 2022, EssilorLuxottica recorded more than $26 billion in global revenue. The company posted an 8.6% year-on-year revenue increase to $6.7 billion for the first three months of 2023 at constant exchange rates, compared to Q1 2022. JULY 2023
BY RAWAN HASSAN; PHOTO BY DIMITRIOS KAMBOURIS / GETTY IMAGES NORTH AMERICA / AFP
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The Billionaire Heiresses Of Luxury Beauty And Fashion Brands
