Data from the Bloomberg Billionaire Index show that Alice Walton, the daughter of retail tycoon Sam Walton, has exceeded $95 billion in net worth for the first time.
She overtook Francoise Bettencourt Meyers, the granddaughter of Eugene Schueller, the founder of a cosmetics firm, with $91 billion, reflecting a 12% decline in LâOreal shares since January.
Last year, Bettencourt Meyers was worth an astounding $100 billion and Walton about $70 billion.
Meyers is ranked 20th wealthiest individual on the Bloomberg Billionaire Index behind Walton, ranked 18th richest person and the Worldâs richest woman.
Walton is ranked behind her two brothers, Jim Walton with $98 billion and Rob Walton with $95.8 billion.
The siblings each own more than 11% of Walmart after assuming their fatherâs equally divided shares in the company between his four children.
Over the years, they also earned over $15 billion from stock sales and dividends.
According to reports, Bettencourt Meyers owns about 35% of the Worldâs largest cosmetics firm, LâOreal. This firm owns brands such as Garnier and Maybelline, which she inherited from her mother, Liliane, who died in 2017.
Alice Walton is on her way to joining the Worldâs wealthiest individuals if her wealth reaches the $100 billion mark.
Walton and Meyers are the only women close to the top of the Bloomberg list, including Jacqueline Badger Mars and Abigail Johnson, whose grandmothers founded Mars and Fidelity, respectively.
TimesNow.com.ng earlier reported that Nigerian billionaire Aliko Dangote has lost his title as the wealthiest man in Africa for the second time in a month.
South Africaâs Johann Rupert claimed the top spot from the Nigerian industrialists after Dangoteâs wealth declined due to a drop in the shares of his company, Dangote Cement.
The Nigeria Exchange Limited (NGX) data shows that the cement firm led the pack of top laggards after its share price dipped by about N59.10, a 10% drop from N591.10.
Source: TimesNow.com.ng
