L’Oreal’s Liliane Bettencourt, the world’s richest woman, dies
Paris — Liliane Bettencourt, heiress to the L’Oreal cosmetics empire and the world’s wealthiest woman, has died. She was 94. Her death was announced in a statement from L’Oreal CEO Jean-Paul Agon. She died Wednesday at her home in Neuilly, a suburb west of Paris, according to a company spokesperson. No cause was given. Bettencourt, the only child of L’Oreal founder Eugene Schueller, owned about one-third of the company’s shares. During her lifetime, the Paris-based company grew from a small hair-dye supplier into the largest maker of beauty products, with more than 30 brands including Lancome and Garnier sold in about 140 countries. In 2016 the company reported revenue of €25.8bn. Bettencourt’s net worth was $42.5bn, according to the Bloomberg billionaires index. Her death will fuel speculation about Nestlé’s 23% stake in L’Oreal, the second-largest holding after the Bettencourt family. The Swiss food company and the Bettencourt family have a shareholder agreement that limits either...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.