French businesswoman and billionaire tycoon, Liliane Bettencourt has passed at age 94 her daughter said Thursday. The heiress whose family founded the highly known L'Oreal cosmetic giant was recently listed by Forbes as the world's wealthiest women. The company was founded a century ago by her father as a maker of hair dye.
Bettencourt's death has opened a new phase for L'Oreal, which is France's fourth largest company and reportedly altering the relationship it has with key shareholder Nestle. Bettencourt and her children owned a sum of 33% of the company. L'Oreal's daughter Françoise Bettencourt-Meyers said in a statement the family remained committed to L‘Oreal and its management team.
“My mother left peacefully,” Bettencourt-Meyers said, adding that she had died during Wednesday night at her home in Paris.
“I would like to reiterate, on behalf of our family, our entire commitment and ...read more