Portraits of the billionaire minds shaping the future of the beauty industry

In May 2025, the brand was acquired by e.l.f. Beauty for up to USD 1 billion, catapulting Hailey Bieber into the elite ranks of beauty’s young billionaires. For e.l.f. Beauty, the acquisition marks a step into the premium segment, broadening its core appeal beyond affordable staples while harnessing Rhode’s star power to amplify its global reach. Following the acquisition, Justin Bieber’s wife remains at the helm of Rhode’s creative and product direction, proving her flair for business is every bit as compelling as her celebrity.

Kim Byung Hoon is the CEO of APR Corp, a Seoul-based beauty-tech firm driving innovation in the Korean beauty sector. He founded InnoVentures in 2014, the precursor to APR Corp, originally focusing on cosmetics. But the defining moment came in 2021, when the company pivoted towards high-tech skincare devices like Booster Pro, offering an elevated at-home skincare experience. Under Kim’s astute leadership, APR evolved into a global sensation, propelled by the success of its Medicube brand and a dynamic TikTok-led marketing campaign that caught the eye of celebrities including Hailey Bieber and Kylie Jenner.

Following its IPO in 2024, APR reached a market capitalisation of approximately USD 4.2 billion, becoming Korea’s second-largest publicly listed cosmetics company, with over 70% of its revenue generated overseas. With this success, Kim Byung Hoon joined the billionaire ranks at just 37. As reported by the Bloomberg Billionaires Index, he now owns roughly 31 per cent of APR, with a personal fortune estimated at US$1.3 billion, making him Korea’s youngest skincare industry billionaire in 2025.

Françoise Bettencourt Meyers is the granddaughter of Eugène Schueller, founder of L’Oréal, and the only daughter of Liliane Bettencourt, heiress to the French cosmetics dynasty. The Bettencourt Meyers family currently holds between 33 per cent and 35 per cent of L’Oréal’s shares, making them the largest single shareholder in the beauty giant. Françoise joined the Board of Directors in 1997 and remained for nearly three decades before stepping down as Vice Chairwoman in April 2025. Holding roughly 35 per cent of the group’s shares, she became the first woman in history to amass a personal fortune exceeding $100 billion, and remains one of the world’s wealthiest individuals.

In addition to shaping L’Oréal’s commitment to personalised beauty technologies and sustainability, she has left a notable mark in the spheres of philanthropy and intellectual life. Through the Bettencourt Schueller Foundation, which she heads, hundreds of millions have been donated to scientific research and the preservation of cultural heritage, including major contributions to the restoration of Notre-Dame Cathedral. Away from boardrooms, Françoise has also authored several books on Greek mythology and biblical themes, reflecting an erudition that extends far beyond her financial influence.

Read more: CEO & Co-founder Maison Francis Kurkdjian: “Perfume is a creative art that does not need marketing”

Suh Kyung-bae, Chairman and CEO of Amorepacific, is the architect behind the global ascent of Korean beauty. Since taking the reins in 1997, he has spearheaded an ambitious expansion strategy, developing a portfolio of brands including Sulwhasoo, Laneige and Innisfree. His approach combines technological advancement with biological research and an elegant interplay of Eastern and Western beauty philosophies, offering products tailored to a broad range of markets. Under Suh’s guidance, Amorepacific has seen sustained international growth, earning its place among the world’s most innovative companies. His personal wealth was estimated at between $1.4 and 1.6 billion in 2024–2025.

From global pop icon to business trailblazer, Rihanna has emerged as one of America’s richest self-made female billionaires. The turning point came with the launch of her cosmetics powerhouse.

Fenty Beauty made its debut in September 2017 and sent shockwaves through the beauty world. Within its first year, the brand brought in approximately $550 million, surpassing projections and positioning itself as a formidable player. Its defining success stemmed from a “beauty for all” ethos, championed by a foundation range spanning 40 shades. This inclusive approach set a new industry standard, prompting many competitors to reevaluate their offerings.

Building on that momentum, Rihanna launched Savage X Fenty in 2018, a lingerie brand that celebrates confidence and body positivity, challenging traditional norms. She later introduced Fenty Skin, a streamlined yet effective skincare line, and most recently unveiled Fenty Hair, which focuses on versatile, reparative solutions designed for all hair types.

Despite a few fluctuations in her net worth in 2025 due to shifting market conditions, Rihanna continues to hold onto her billionaire status, with the bulk of her wealth attributed to her stake in Fenty Beauty. As estimated by Investopedia, her net worth hovers around $1.4 billion.

Dubbed the “Elon Musk of the cosmetics world” in China, Hou Juncheng, founder and chairman of Proya, has emerged as one of the most influential figures in shaping Asia’s beauty landscape. He began his journey in cosmetics distribution before launching Proya in 2006 in Zhejiang. Through a smart marketing approach that wove together e-commerce, livestreaming and social media, the brand quickly gained a foothold among younger consumers, particularly women aged 18 to 24.

In 2017, Proya was officially listed on the Shanghai Stock Exchange. Impressively, the company has posted double-digit growth for six consecutive years since going public, with revenue reaching 8.905 billion yuan in 2023. This paved the way for revenues to surpass 10 billion yuan in 2024, making Proya the first homegrown Chinese brand to achieve such a feat.

Beyond strong financials, Hou Juncheng has committed significant investment to research and development, with 256 patents and 174 million yuan allocated to R&D in 2023 alone. He also spearheaded the “Oriental Grasse” initiative, establishing a modern cosmetics industrial hub across Hangzhou and Huzhou. His vision includes opening an innovation centre in Paris and pursuing global brand acquisitions to elevate Proya’s standing on the international stage.

Under his dynamic leadership, Hou Juncheng secured his place among beauty’s billionaire circle. According to Realtime Billionaires, as of April 2025, the Proya founder’s assets were valued at $1.52 billion.

With fresh names emerging and established empires evolving at speed, the beauty industry is undergoing dramatic transformation. It’s not just about growth in revenue; these brands are reshaping experiences, launching inventive products, and pushing the boundaries of innovation. As their influence expands globally, the next chapter promises bold breakthroughs and a reinvention of what beauty means.

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