Liliane Bettencourt Net Worth
Liliane Bettencourt was a Paris-born businesswoman, philanthropist, heiress, and socialite. At the time of her death, her net worth was $46 billion, making her the richest woman on the planet and the richest person in France. She was the 11th richest person globally. Adjusted for inflation, her fortune positioned her as the 6th richest woman in history, only surpassed by women from centuries ago. During her lifetime, she was the richest woman in modern history.
She owned 185 million shares of L'Oreal, which was roughly 33% of the company. Additionally, she had a 30% stake in Nestle, making her the largest individual shareholder of both companies. Bettencourt co-founded the Bettencourt Schueller Foundation with her husband and daughter, supporting scientific research, humanitarian projects, and the arts.
Her extravagant gifts to writer and artist François-Marie Banier made headlines, and she had a legally tumultuous relationship with her estranged daughter. She was also a high-profile victim of Bernie Madoff's Ponzi scheme.
Liliane Bettencourt passed away on September 21, 2017, just one month short of her 95th birthday.
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Early Life
Bettencourt was born in Paris in 1922 as the only child of Louise and Eugène, the founder of L'Oréal. After her mother's death when she was five, she grew close to her father. At 15, she joined L'Oréal as an apprentice, mixing cosmetics and labeling shampoo bottles.
L'Oreal Fortune
Upon her father's death in 1957, Bettencourt inherited the L'Oréal fortune and became the principal shareholder. Although the company went public in 1963, she retained a majority stake. In 1974, fearing nationalization by the French government, she exchanged nearly half her stake for a 3% share in Nestlé.
By 2012, she owned around 30% of L'Oréal's shares and appointed her grandson Jean-Victor as Board Director when she stepped down.
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Bettencourt Affair and Scandal
In the late 80s, Bettencourt met François-Marie Banier, who was photographing her for a French magazine. Over the years, they became close friends, and she gifted him items and assets worth over €1.3 billion, including life insurance policies and paintings by Picasso, Mondrian, Matisse, and Léger. Following Banier's death in 2007, Bettencourt's daughter Françoise accused him of exploiting her mother. Tape recordings revealed that Bettencourt had made Banier her sole heir, leading to numerous lawsuits and conflicts with her daughter.
Amidst the fallout, it was discovered that Bettencourt had been evading taxes by routing funds to Swiss bank accounts and conspiring with French budget minister Éric Woerth. Further allegations included unlawful donations to conservative politicians, including former president Nicolas Sarkozy.
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Philanthropy
In 1987, Bettencourt cofounded the Bettencourt Schueller Foundation to support humanitarian, cultural, and medical initiatives. The Foundation allocates about half of its funds to scientific research and education, with the rest going to social, cultural, and artistic projects. In 2007, it received the Black Planet Award for its alleged negative impact on the planet.
Madoff Scandal
Bettencourt was one of the most high-profile victims of Bernard Madoff's Ponzi scheme, losing around €22 million after being the first investor in a fund managed by Access International Advisors.
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Personal Life
Bettencourt married French politician André Bettencourt in 1950. He held various government positions and was the deputy chairman of L'Oréal. André had been a member of the pro-Nazi La Cagoule group, which Bettencourt's father funded in the 30s. The Bettencourts lived in an Art Moderne-style mansion in Neuilly-sur-Seine and had one daughter, Françoise, born in 1953.
In 2011, due to mental health concerns, Bettencourt was placed under the guardianship of her family. Françoise and her two grandsons controlled her wealth and property. In 2014, Françoise became the guardian of the fortune, while her son joined the Supervisory Board of the family holding company.
Bettencourt owned a private island in the Seychelles called D'Arros Island, which she sold in 2012 for £60 million. She passed away in 2017 at the age of 94.
Net Worth Details
Bettencourt inherited her stake in L'Oréal from her father. The Bettencourt Meyers family owns nearly 33% of the company, totaling over 185 million shares. After a legal dispute in 2011 involving gifts Bettencourt gave to friends, her daughter Françoise and two grandsons were named guardians of the family fortune.
