- Bettencourt’s daughter Francoise stated her mom handed away ‘peacefully’
- The heiress was named the 14th richest particular person on this planet by Forbes
- She stepped down from the L’Oreal board in 2012 after dementia analysis
Joe Sheppard For Mailonline
Liliane Bettencourt has died aged 94
L’Oreal heiress Liliane Bettencourt, the world’s richest girl, has died on the age of 94, her household stated as we speak.
Her daughter Francoise Bettencourt Meyers stated in an announcement that her mom ‘left peacefully’ at her residence in Paris.
Bettencourt, the cosmetics large’s principal shareholder, was the 14th richest particular person on this planet, in response to Forbes journal, which estimated her internet price in March at $39.5bn (£29.1bn).
She was hardly ever seen in public since leaving the L’Oreal board in 2012, however her identify remained within the headlines as members of her entourage have been charged with exploiting her failing psychological well being.
Bettencourt had been declared unfit to run her personal affairs in 2011 after a medical report displaying she had suffered from ‘blended dementia’ and ‘reasonably extreme’ Alzheimer’s illness since 2006.
The complicated authorized case concerned a bitter feud along with her solely daughter and unscrupulous pals, and even dragged in former president Nicolas Sarkozy.
Patrice de Maistre, who managed Bettencourt’s huge fortune, was accused of getting her at hand over envelopes of money to members of Sarkozy’s right-wing UMP celebration throughout his 2007 presidential marketing campaign.
The expenses in opposition to Sarkozy have been dropped in October 2013 as a result of lack of proof.
Bettencourt was born Liliane Schueller in Paris in 1922 to L’Oreal founder Eugene Schueller and Louise Madeleine Berthe – who died when Bettencourt was simply 5 years previous.
She began working for L’Oreal aged 15 as an apprentice labelling bottles of shampoo and rose by means of the ranks through the years.
Bettencourt, pictured in 1988, was price $39.5bn and was the 14th richest particular person on this planet
Bettencourt, pictured within the 1970s, began working for L’Oreal aged 15 as an apprentice labelling bottles of shampoo
She married French politician and future cupboard minister Andre Bettencourt in 1950, the couple remained collectively for 57 years throughout which period that they had one daughter.
She inherited L’Oreal after her father died in 1957 and remained on the helm of the corporate for greater than 5 many years.
In 1987 she arrange the Bettencourt Schueller basis alongside along with her husband and daughter. The organisation is geared toward growing humanitarian tasks.
Her place at L’Oreal noticed Battencourt face an enormous quantity of criticism all through her profession and in 2007 she was given a Black Planet Award – an award created by the Ethecon Foundation and handed to these it deems to be destroying the planet.
Her demise opens a brand new section for L’Oreal, France’s fourth-largest listed firm, altering the connection it has with key shareholder Nestle, the Swiss meals firm.
Bettencourt and her kids owned 33 p.c of the corporate. Her daughter stated in an announcement the household remained dedicated to L’Oreal and its administration workforce.
She stated: ‘I wish to reiterate, on behalf of our household, our whole dedication and loyalty to L’Oreal and to resume my confidence in its President Jean-Paul Agon and his groups worldwide.’
Bettencourt’s residence in Neuilly-sur-Seine, west of Paris Bettencourt and her kids owned 33 per cent of L’Oreal
Bettencourt inherited L’Oreal in 1957 and remained on the board of administrators till stepping down in 2012
Agon was appointed chairman and chief government of L’Oreal in 2011.
Nestle, which owns somewhat over 23 p.c of L’Oreal, had an settlement with the founding household stipulating that the 2 events couldn’t enhance their stakes within the cosmetics group throughout Liliane Bettencourt’s lifetime and for no less than six months after her demise.
The Swiss firm has been a significant investor since 1974, when Bettencourt entrusted practically half of her personal stake within the agency to Nestle in trade for a 3 p.c holding within the Swiss firm. She took the transfer out of worry that L’Oreal may be nationalised if the Socialists got here to energy in France.
L&#zero39;Oreal heiress Liliane Bettencourt, dies aged 94 by: Pamela Hendrix published: