L’Oréal heiress Françoise Bettencourt Meyers has become the first woman to amass a $100bn fortune.

This is according to a ranking of the richest people in the world.

BBC News says the net worth of Ms Bettencourt Meyers crossed $100bn on the Bloomberg Billionaires Index, making her the 12th richest person in the world.

The French beauty empire founded by her grandfather is on track for its best stock market performance in decades: the firm has seen its sales rebound after the pandemic, when people under lockdown used less makeup.

The 70-year-old became the reigning heiress of L’Oréal after her mother, Liliane Bettencourt, died in 2017.

Ms Bettencourt Meyers is the vice-chairperson of the company’s board.

She and her family are also the single biggest shareholders of L’Oréal, with a stake of around 35%.