THE WHAT? Françoise Bettencourt Meyers, L’Oréal heiress, becomes the first woman to amass a US$100 billion fortune.

THE DETAILS L’Oréal, founded in 1909 by Eugène Schueller, is valued at €241 billion. Meyers and her family hold a nearly 35% stake in the company. The increase in her wealth is primarily due to the rise in L’Oréal’s share price.

THE WHY?  This financial milestone places Meyers among the world’s wealthiest individuals in a list primarily populated by men. Her wealth has grown substantially in a year when many billionaires have seen their fortunes increase.