magazine estimated her wealth in 2007 at $20.7 billion.
Bettencourt was the only child of Mr. Eugène Schueller, the founder of L'Oréal, one of the world's leading cosmetics and beauty companies. In 1927, her mother died when Liliane was 5 years old.
In 1950, she married French politician André Bettencourt and together, they lived in Neuilly-sur-Seine, France until Andre's death in November 2007. They had one daughter, Françoise, who married Jean-Pierre Meyers, the grandson of a rabbi who died in Auschwitz concentration camp. Françoise Bettencourt Meyers is a member of L'Oréal's board of directors
In 1957, Bettencourt inherited the L'Oréal fortune from her father. She is the principal shareholder of L'Oréal. The company ownership breakdown: 27.5% by Liliane Bettencourt, 26.4% by Nestlé, the remaining 46.1% are publicly traded.
She created the Bettencourt Schueller Foundation, which awards the "Liliane Bettencourt Prize for Life Sciences" to a European researcher under the age of forty-five.
A report by Forbes has her listed as the second richest person in France behind Bernard Arnault who has an estimated $26.0 billion.
