Liliane-Bettencourt “The inherited entrepreneur and an art lover”

Introduction:

Liliane Bettencourt is a French legatee and businesswoman who is a principal shareholder of L’Oréal. She is France’s richest woman and world’s second-richest woman just behind Christy Walton, the most powerful and influential woman in the world. She is the only child of Eugène Schueller, founder of L'Oréal, one of the world's biggest and famous cosmetics plus beauty companies. She was interested in business and the corporate world since a very young age and started assisting her dad as a learner and trainer. She was close to her father after her mother died at a very young age. Liliane Bettencourt was not only learning but developing as a businesswoman and went on to become deputy chairman of L’Oréal. Loreal’s founder Eugène Schueller was a French pharmacist and entrepreneur who founded Loreal in 1909, introducing modern advertisement. Liliane Bettencourt helped her father in expanding the business and inherited Loreal’s fortune after the death of her father, announced as the principal shareholder. Liliane Bettencourt married French politician André Bettencourt in 1950 and Andre Bettencourt died on 19th November 2007.  She is an ambitious business woman and worked passionately to expand moreover grow the business and acquired various cosmetic brands for the like business. She is one of the richest persons in the world and a famous face in the world. Loreal is one of the biggest brands in beauty and cosmetics all over the world. Net worth: 45.3 billion USD (2017)

Childhood

Liliane Bettencourt was born as Liliane Henriette Charlotte Schueller on October 21st, 1922, in Paris, France. She is the only child of her mother Louise Madeleine Berthe and father Eugène Schueller, founder of L’Oréal brand. Her parents were a chemist (father) and a pianist (mother) by profession. Liliane was just five years old when her mother died and she formed a close relationship with her father since a very young age. Liliane was interested in business since a very young age after seeing her father into a business while she used to spend all her time with him, she joined her father on the board as the learner at the age of 15 years old. L’Oréal and its products were available in 17 countries at that time, one of the largest cosmetics and beauty companies then and now as well.

Success years and achievement

Liliane Bettencourt was announced as the Deputy Chairman of L’Oréal in the 1950s and her father, founder of L’Oréal died in 1957 when she inherited the company’s empire and became the main shareholder of the company. The company became public in 1963 but she had the majority of the stake to her name at that time. In the 1970s, she was in doubt of the company might get nationalized though she exchanged her 50% stake from L’Oréal for a 3% share nestle. She desired to have great ambitions for her company and adopted an extensive and ideal expansion growth strategy to emerge and extend the company to bigger levels. She went on to gain the authority of the luxury beauty brand Lancôme, Helena Rubinstein, one of the famous American beauty and cosmetics company and the creative American fashion retailer Ralph Lauren, among others and merged them into her own business. She performed her job with passion and dedication and her strategies helped the company to do very well in the respective industry and became worldwide famous. She has become one of the richest women in the world with her business skills and shares in Nestle. She emerged as a powerful and passionate businesswoman all around the world. She became a member of the board of directors in 1995 but left the position for her grandson, Jean-Victor in 2012.

 Personal Life & heritage

In 1950, Liliane Bettencourt married French politician and founder of the newspaper LA France Agricultural and LE Courrier Cauchois Andre. Andre Bettencourt served as the Member of Parliament and Senator of the Seine-Maritime from the year 1951-1995. The couple has one daughter Françoise. Liliane married in 1950 and in 2007 Andre died. An interesting fact about Liliane Bettencourt is that she is an art lover and she loves to collect art that is worth more than 20 million euros, her art pieces include paintings by Chirico, Fernand Leger, Picasso, Munch, and Braque. In 2007, Liliane Bettencourt grabbed the media attention with the much-talked high-profile controversy related to her relationship with the very young photographer, François-Marie Banier, whom she met first in 1987, later two became friends over the on-going years and Liliane became his chief benefactor. Liliane’s daughter sued Banier in the accusation of exploiting her mother’s bad health and mental weakness for his own personal gains. Liliane showered Banier gifts that later revealed were worth of €1.3 billion. On the rumors circulated that Bettencourt named Banier her heritage. Her daughter filled a case and in a process of lengthy court case, Bettencourt removed Banier from her heritage.

Net Worth

In 2015, Liliane Bettencourt estimated to have the net worth of $40.9 billion.

Philanthropy work

Bettencourt family, together with Liliane, Andre and daughter formed the Bettencourt Schueller Foundation in 1987. It is located in Neuilly-sur-Seine, France. The foundation has the main purpose that supports scientific education and research, humanitarian and social projects, and culture and arts. Bettencourt Schueller Foundation also helped to fund the new Monet wing in order to raise awareness about French art at the Musée Marmottan Monet. Liliane Bettencourt developed her entrepreneur skills and interest since a very young age and she evolved the business time to time, whenever needed. She believes in innovation and after getting the company inherited from her father, she managed it with her excellent expansion strategies. She worked and believed in growing, merged her company to extend it worldwide with one of the famous moreover creative companies and personalities.

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