Stories
Liliane Bettencourt, a French heiress and businesswoman, was one of the wealthiest women in the world, primarily due to her inheritance of a majority stake in L’Oréal, the global cosmetics giant founded by her father, Eugène Schueller. Although not directly involved in the day-to-day operations of the company, Bettencourt played a significant role in safeguarding her family’s interests and ensuring the continued success of L’Oréal.
Early Life and Family
Born on October 21, 1922, in Paris, France, Liliane Schueller was the only child of Eugène Schueller, a chemist who founded L’Oréal in 1909. From a young age, she was exposed to the world of cosmetics and the family business. At 15, she joined L’Oréal as an apprentice, labeling bottles and mixing products.
Marriage and Inheritance
In 1950, Liliane married André Bettencourt, a French politician who later served as a minister in several governments. The couple had one daughter, Françoise Bettencourt Meyers. In 1957, upon the death of her father, Liliane inherited a significant stake in L’Oréal, becoming the company’s largest shareholder.
Role in L’Oréal
While not actively involved in the management of L’Oréal, Bettencourt maintained a close relationship with the company’s leadership and regularly attended shareholder meetings. She fiercely defended her family’s interests and played a crucial role in several key decisions, including the appointment of Lindsay Owen-Jones as CEO in 1988 and the company’s acquisition of Nestlé’s stake in 2014.
Philanthropy and Legacy
Bettencourt was also known for her philanthropic endeavors. She and her husband established the Bettencourt Schueller Foundation in 1987, which supports projects in the fields of medical research, education, and social causes. Additionally, she was a patron of the arts, donating to numerous museums and cultural institutions.
Career Timeline
| Year | Milestone |
|---|---|
| 1922 | Born in Paris, France |
| 1937 | Joins L’Oréal as an apprentice |
| 1950 | Marries André Bettencourt |
| 1957 | Inherits a majority stake in L’Oréal upon her father’s death |
| 1987 | Establishes the Bettencourt Schueller Foundation with her husband |
| 2017 | Passes away at the age of 94 |
Liliane Bettencourt’s legacy is intertwined with the success of L’Oréal. As a guardian of her family’s interests and a generous philanthropist, she made a lasting impact on the cosmetics industry and French society as a whole. Her story serves as an inspiration to women in business and a testament to the power of family legacy in the world of entrepreneurship.