Liliane Bettencourt facts for kids

Liliane Bettencourt (born Liliane Schueller, October 21, 1922 – September 21, 2017) was a very wealthy French businesswoman. She was a main owner of L'Oréal, a huge company known for its beauty and cosmetic products. When she passed away, she was known as the richest woman in the world and the 14th richest person overall. Her amazing wealth came from her family's business, L'Oréal.

Liliane Bettencourt's Life Story

Liliane Henriette Charlotte Schueller was born in Paris on October 21, 1922. She was the only child of Eugène Schueller, who started L'Oréal. L'Oréal grew into one of the world's biggest companies for cosmetics and beauty products.

When Liliane was five years old, her mother died. She became very close to her father. Later, her father married Liliane's British governess (a teacher who lived with the family). At 15, Liliane started working at her father's company. She learned by mixing cosmetics and putting labels on shampoo bottles.

Marriage and Family Life

In 1950, Liliane married André Bettencourt. He was a French politician who worked in the French government during the 1960s and 1970s. He also became a high-ranking leader at L'Oréal. The Bettencourts lived in a beautiful house in Neuilly-sur-Seine, France. They had one daughter, Françoise, who was born in 1953.

Taking Over L'Oréal

In 1957, Liliane Bettencourt inherited the L'Oréal fortune when her father passed away. This made her the main owner of the company. In 1963, L'Oréal became a public company, meaning its shares could be bought and sold by anyone. However, Liliane still owned most of the company.

Later, in 1974, she traded almost half of her L'Oréal shares for a small part of another big company, Nestlé. This was done because she was worried the French government might take over the company.

As of 2012, Liliane Bettencourt still owned a large part of L'Oréal. Her family and Nestlé worked together on decisions for the company. Liliane stopped being a director on the company's board in 2012. Her grandson, Jean-Victor, then joined the board. Liliane's daughter and her husband are also members of the board.

Liliane Bettencourt usually avoided being in the news. She gave very few interviews.

Giving Back: Philanthropy

In 1987, Liliane Bettencourt, along with her husband and daughter, started the Bettencourt Schueller Foundation. This foundation helps support and develop projects in medicine, culture, and humanitarian aid. It is based in Neuilly-sur-Seine.

The foundation has a lot of money to help others. It spends about 55% of its funds on science education and research. About 33% goes to helping people and social projects. The remaining 12% supports culture and arts. For example, in 2008, the foundation helped pay for a new art section at the Musée Marmottan Monet, an art museum.

Liliane Bettencourt's Art Collection

Liliane Bettencourt had an impressive collection of art. It included famous paintings by artists like Matisse, Picasso, Fernand Léger, and Mondrian. She also owned special furniture by Ruhlmann.

Family Concerns and Guardianship

Liliane Bettencourt faced a lot of public attention because of her friendship with François-Marie Banier, a French writer and photographer. Over the years, Liliane gave him many valuable gifts.

In 2007, Liliane's daughter, Françoise Bettencourt Meyers, became worried about her mother's well-being and the large gifts being given. She started a legal process to look into the situation.

In July 2010, secret recordings made by Liliane's butler became public. These tapes showed that Liliane might have been planning to make Banier her main heir, except for her L'Oréal shares.

By December 2010, Liliane Bettencourt and her daughter Françoise made up. It was reported that Liliane and Banier had separated, and he was no longer in her will. However, their disagreements started again later.

Legal Guardianship

In June 2011, Liliane's daughter asked the court to place her mother under legal guardianship. This meant that family members would help manage Liliane's health and money, as there were concerns about her mental health.

On October 17, 2011, a French judge decided that Liliane Bettencourt should be placed under the care of her family. Françoise Bettencourt-Meyers, along with Liliane's two grandsons, gained control of her wealth and property. One of her grandsons was also named her personal guardian. As of 2014, Françoise Bettencourt-Meyers manages the fortune, while her son, Jean-Victor Meyers, looks after Liliane's health and personal life.

Forbes' Rankings

Forbes magazine often listed Liliane Bettencourt as one of the world's richest people. In 2016, her fortune was estimated at US$38.8 billion. At that time, she was the richest woman in the world and also the richest person in France.

In 2005, Forbes also named her the 39th most powerful woman in the world.

Liliane Bettencourt passed away on September 21, 2017. Her funeral was held in Neuilly-sur-Seine.

See also

In Spanish: Liliane Bettencourt para niños