World's richest woman according to Forbes, Liliane Bettencourt, French businesswoman and billionaire, whose family founded L'Oréal has died aged 94 according to her daughter, Françoise Bettencourt-Meyers.

Bettencourt and her children owned 33 percent of the company.  Her children are committed to conitnue L'Oréal work.

"I would like to reiterate, on behalf of our family, our entire commitment and loyalty to L'Oréal and to renew my confidence in its President Jean-Paul Agon and his teams worldwide."

At the age of 15, she joined her father's company as an apprentice, mixing cosmetics and labeling bottles of shampoo. As of December 2012, Bettencourt owned 185,661,879 (30.5%) of the outstanding shares of L'Oréal, of which 76,441,389 (12.56%) shares are effectively held in trust (for her daughter).

She married French politician Andre Bettencourt in 1950.  In 1987 Bettencourt, together with her husband and daughter, founded 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, France.
Bettencourt was reported to be one of the most high-profile victims of Bernard Madoff's Ponzi scheme, losing €22 million. As of 2016, she was the top female billionaire in the world, and was also the richest person in France.