The L’Oréal heiress and richest woman in the world Liliane Bettencourt has died aged 94.
Bettencourt, the daughter of Eugène Schueller, founder of the L'Oréal Group, had an estimated net worth of €33bn or $40bn in 2017.
In a statement, Chairman and CEO Jean-Paul Agon, said: “All of L'Oréal's employees join me in expressing our most sincere condolences and affectionate thoughts in these sad moments to Mrs. Françoise Bettencourt Meyers, Mr. Jean-Pierre Meyers, and their two sons Jean-Victor and Nicolas.
“We all had a great admiration for Liliane Bettencourt who always looked after L'Oréal, the company and its employees, and was very attached to its success and development.
“She has personally contributed greatly to its success for many years. Mrs Liliane Bettencourt was a great lady of beauty who has left us and whom we will never forget.”
Bettencourt’s wealth and assets have been the subject of numerous scandals over the years, the most recent high profile case being resolved in 2015.