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Our French Celebs: Meet Liliane Bettencourt

liliane-bettencourt-parce-quelle-le-vaut-bienLiliane Bettencourt 

She is the woman who gave new definition to cosmetics after she inherited L’Oreal which was founded by her father Eugene Schueller. It is one of the biggest and largest beauty and cosmetic company in the world. Her company’s net worth of $ 30 billion makes her the richest woman in the world. She and her family currently own above 30% shares of L’Oreal which has only been increasing thanks to boost in French market for cosmetics. The elderly widow also has fought legal battles against her family due to guardianship of her money.

Since then, she had faced intense media scrutiny and publicity over her relationship with François-Marie Banier, the estrangement with her daughter Françoise and her alleged funding of conservative French politicians, including former French president Nicolas Sarkozy.

She founded with her husband the Bettencourt Schueller Foundation (la Fondation Bettencourt Schueller) to support and develop medical, cultural and humanitarian projects. The Foundation is based in Neuilly-sur-Seine (92), France. The Foundation, which benefits from assets of €150 million and an annual budget of approx €15 million devotes approximately 55% of its funds to scientific education and research, 33% to humanitarian and social projects and 12% to culture and arts. It sponsors prizes through which funds are disbursed to various recipients.

http://www.fondationbs.org 

Forbes ranks Bettencourt at 7th in its list of the world’s wealthiest persons with an estimated fortune of US$38.8 billion(as of 28 June 2016). As of 2016, she is the top female billionaires woman in the world, and is also the richest person in France.

Our Frenchies on Liliane 🙂 Enjoy!

“Je suis content pour la Bettencourt. Si seulement elle pouvait vendre ses produits moins chers….”

I’m happy for the Bettencourt. If only she could sell her products cheaper 

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“Riche et gâteux ou pauvre et brillant? Que choisir?”

Rich and spoiled or poor and smart? What to choose?

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“Pour information, le patrimoine de L. Bettancourt équivaut au PIB annuel d’un pays comme la Lettonie (membre de l’UE), ou de la Côte d’Ivoire (25 millions d’habitants). Ceci dit, ça reste un peu inférieur aux bénéfices d’Apple en 2013. Par ailleurs, il y a 10 personnes plus riches qu’elle dans le monde (Bill Gates a un patrimoine équivalent au PIB de Cuba, classée au 66e rang mondial). Accessoirement, le chiffre d’affaire de Wal Mart ou de Shell en 2013 était comparable au PIB de la Belgique.”

For information, the heritage of L. Bettencourt is equivalent to the annual GDP of a country like Latvia (EU member), or Côte d’Ivoire (25 million inhabitants). That said, it’s still a little lower than Apple’s profits in 2013. There are ten more richer people in the world (Bill Gates has a heritage equivalent to Cuba’s GDP, ranked 66th in the world). Incidentally, sales of Wal-Mart or Shell in 2013 were comparable to the GDP of Belgium

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“On peut espérer que la nouvelle loi travail permet un accroissement de ces fortunes.”

One can hope that the new labor law will allow an increase of her fortunes.

Comments from Le Monde Newspaper. 

 

 

L’Oreal heiress impaired by brain disease

Doctors say a brain disease has made L’Oreal heiress Liliane Bettencourt unable to run her affairs and she must be placed under enhanced legal guardianship, a source close to the affair said on Tuesday.

The claim came as the battle heated up between the 89-year-old billionaire and her daughter Francoise Bettencourt-Meyers, who has taken legal action alleging that her mother is prey to hangers-on who want to defraud her.

 

The source, who asked not to be named, disclosed to AFP an analysis of the 89-year-old billionaire’s health by court-appointed doctors who said a “brain disease” had caused an “alteration of the mental and physical faculties.”

 

Bettencourt, France’s richest woman, “must be given a measure of protection in carrying out her civil life, regarding her patrimony and personal affairs, in the form an enhanced legal guardianship,” this medical report said.

 

The three doctors submitted their report last month based on Bettencourt’s medical records but did not examine her personally, the source said. Le Monde newspaper also reported their recommendations.

 

Entangled in political scandals, the feud between Bettencourt, heir to the L’Oreal cosmetics empire whose fortune is estimated at around 15 billion euros (21.7 billion dollars), and her daughter broke out afresh last week.

 

Her daughter took legal action against Bettencourt’s lawyer Pascal Wilhelm, alleging he had a conflict of interest in managing her affairs.

 

Bettencourt-Meyers sued a friend of her mother last year for abuse of trust, but the trial broke down in a web of allegations implicating President Nicolas Sarkozy’s government in claims of illegal political funding.

 

Wilhelm declined to comment to AFP on the details of Tuesday’s claims but denounced what he called “a clear violation of medical confidentiality.”

 

The type of “enhanced legal guardianship” recommended by the doctors would allow the appointed guardian to oversee Bettencourt’s spending but falls short of granting the guardian the status of a full legal trustee.

Source AFP, picture from Fashion Mag.