WORLD'S WEALTHIEST WOMAN,THE L'OREAL HEIRESS DIES AT 94

WORLD'S WEALTHIEST WOMAN,THE L'OREAL HEIRESS DIES AT 94

Liliane bettencourt, Heiress to the World renowned Cosmetic empire - L'Oreal has died at the ripe age of 94.

In a press statement released by the family to the Guardian through her once estranged daughter Francoise Bettencourt-Meyers, the nonagenarian died ''peacefully'' overnight at her home.

Lilianne Bettencourt with an estimated 2017 net worth of 33bn euros (£30bn; $40bn), until her death was the world's richest woman and 14th richest person according to Forbes. Being the only daughter, she was the sole heiress to L'oreal, a company which her father Eugene Schuellerr formed in 1907, now the biggest cosmetic company in the world.

In 2007,the heiress and her estranged daughter locked horns in a public feud when Ms Francoise Bettencourt-Meyers filed a lawsuit over claims her mother's aides and associates were financially exploiting the heiress.

Following her dementia diagnosis, Ms Lilianne and daughter, Francoise reconciled in 2010 when a French court ordered the former to be placed under the guardianship of two grandsons and the latter because she was found unfit to manage both her affairs and that of the company .

In May, 2015, a french court convicted eight people for exploitation when it established that they took advantage of the failing health of Ms Lilianne and swindled her while they worked for her. These individuals who included a former photographer boyfriend of the hieress and several fund managers were ordered to pay back millions of Euro to the family as damages.

"We all had a great admiration for Liliane Bettencourt who always looked after L'Oreal, the company and its employees, and was very attached to its success and development," Jean-Paul Agon, Chairman and CEO of L'Oreal, said in a statement. "She has personally contributed greatly to its success for many years."