Europe's wealthiest woman owns 31 percent of French cosmetics company L'Oréal, which controls the Kiehl's, Lancôme and Garnier brands. A court ruling in October 2011 appointed Bettencourt's daughter, Francoise, and two grandsons as protectors of the clan's 103-year-old empire. The court rejected Bettencourt's appeal to have them removed as her guardians in January.
L’Oreal SA heiress Liliane Bettencourt faces 77,752,139 euros ($105 million) in back taxes and penalties on undeclared accounts in Switzerland and Singapore and real estate, including an island in the Seychelles, Mediapart reported today, citing tax authority documents.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
Helena Rubinstein, the cosmetics entrepreneur, was “the world’s first self-made female tycoon.” Eugene Schueller, the founder of the French hair-color company L’Oreal , thought women had no business in the workplace. In 1988, after their deaths, his firm acquired hers.
L’Oreal SA, the world’s largest cosmetics maker, agreed to buy back 8 percent of its stock from Nestle SA for 6 billion euros ($8.2 billion), the first sale of shares by the Swiss company after four decades of ownership.
French investigative magistrates have dropped charges against former President Nicolas Sarkozy over allegations he took advantage of the mental frailty of heiress Liliane Bettencourt to fund his 2007 electoral campaign, Agence France-Presse reported, citing unnamed people close to the case.
Recordings of L’Oreal SA heiress Liliane Bettencourt ’s conversations about political dealings and Swiss bank accounts may prompt the postponement of a trial over whether the 87-year-old was manipulated into giving a friend about a billion euros ($1.23 billion) in gifts.