\n
Liliane Bettencourt, the heiress to cosmetics firm L\u2019Oreal, has died aged 94, her family has confirmed.<\/p>\n
A statement said she had died at home \u201cpeacefully\u201d overnight.<\/p>\n
With an estimated 2017 net worth of 33bn euros (\u00a330bn; $40bn), she was the world\u2019s richest woman.<\/p>\n
She left the company\u2019s board in 2012 and was rarely seen in public afterwards, but remained in the news because of a high-profile exploitation case following her dementia diagnosis.<\/p>\n
In a statement, the company\u2019s chairman and CEO Jean-Paul Agon said: \u201cWe all had a deep admiration for Liliane Bettencourt who has always watched over L\u2019Oreal, the company and its employees, and who was very attached to its success and development.<\/p>\n
\u201cShe personally contributed a lot to its success for very many years. A great woman of beauty has left us and we will never forget her.\u201d<\/p>\n
The heiress became embroiled in a public feud with her estranged daughter, Francoise Bettencourt-Meyers, in 2007.<\/p>\n
Ms Bettencourt-Meyers filed a lawsuit over concerns that her mother was being exploited by members of her entourage amid declining health.<\/p>\n
It was revealed in 2008 that a photographer who had befriended the heiress, Fran\u00e7ois-Marie Banier, was gifted items worth hundreds of millions of dollars \u2013 including paintings by Picasso and a 670-acre island in the Seychelles.<\/p>\n
Ms Bettencourt-Meyers said she took legal action against Mr Banier after learning from her mother\u2019s household staff that she was allegedly considering adopting him.<\/p>\n
The mother and daughter reconciled their relationship in 2010, and a French judge ordered Ms Bettencourt be put under the guardianship of her family a year later because of her failing health.<\/p>\n
But the family exploitation case then escalated to a political scandal after it was claimed that Ms Bettencourt\u2019s financial manager, Patrice de Maistre, had extracted money from her to go towards former French President Nicolas Sarkozy\u2019s 2007 election bid.<\/p>\n
The alleged illegal funding was investigated, although Mr Sarkozy consistently rejected all accusations of impropriety and French prosecutors dropped all charges relating to him in 2013.<\/p>\n
The rest of the exploitation case was eventually resolved in May 2015 when eight people, including Mr Banier, were convicted and instructed to pay millions in damages to the family.<\/p>\n
The L\u2019Oreal empire<\/h2>\n
Ms Bettencourt\u2019s assets, including her holding stake in the cosmetics company, were placed in a trust controlled by her daughter.<\/p>\n
One of her two grandchildren, Jean-Victor Meyers, succeeded her on L\u2019Oreal\u2019s board as vice chairman, and was named to guard her personal affairs.<\/p>\n
Her father, Eug\u00e8ne Schueller, founded a hair dye company in 1909, which then turned into the L\u2019Oreal group.<\/p>\n
It is now the world\u2019s largest cosmetics company.<\/p>\n<\/p><\/div>\n
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