How to lose $6.9 Billion with a B!

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According to Forbes, the net worth of the world’s wealthiest woman, Francoise Bettencourt Meyer fell greatly on Friday as shares of L’Oreal, the French beauty company, registered their worst single-day performance since the Great Recession.

Questions:

  1. What amount of L’Oreal stock did Ms. Meyer hold?
  2. What is her net worth now?
  3. Who is the world’s second richest woman?
  4. Why is L’Oreal stock falling?
  5. How would you explain net worth to someone that is not familiar with accounting?

Source:

Derek, Saul (2024) World’s Richest Woman Loses $7 Billion On L’Oreal’s Worst Day Since 2008. MSN.com (Retrievable online at https://www.msn.com/en-us/money/companies/world-s-richest-woman-loses-7-billion-on-l-oreal-s-worst-day-since-2008)