Liliane Bettencourt, L'Oreal Heiress, Sued By Daughter For Giving Billions To A Photographer Friend

The Independent:

An unseemly mother-daughter dispute threatens to smudge the glittering public face of L'Oreal, the world's most successful cosmetics company. The mental capacity of L'Oreal's chief shareholder, Liliane Bettencourt, 86, to manage her 23-billion Euro fortune has been challenged by her only child, Francoise.

Mme Bettencourt, one of the world's wealthiest women and a renowned philanthropist, is reported to have funded life insurance policies worth nearly a billion Euros which benefit a jet-set photographer, artist and author whom she has befriended. Her daughter has brought a legal action which suggests that her mother's great age makes her vulnerable to "abuse".

Read the whole story: The Independent

Comments

[AshleyMAK]

10:01 AM on 12/17/2008

L'Oreal does animal testing. It's a giant brand that includes ... Biotherm, Cacharel, Garnier, Giorgio Armani, Helena Rubinstein­, Lancôme, Matrix Essentials­, Maybelline­, Ralph Lauren Fragrances­, Redken, Soft Sheen, Vichy. I will try and make them less rich by avoiding them.

[USA2Sense]

01:13 PM on 12/15/2008

PEOPLE - she didn't give away a Billion Dollars - she funded a billion dollars worth of life insurance policies..­..........­big difference­..........­..

[truthyguy]

11:50 AM on 12/15/2008

Even photograph­ers have to have the basic necessitie­s of life - and they are free.

[RaRah]

10:08 AM on 12/15/2008

Hey! Why can't I find a nice old lady like that?

www.rarahp­hoto.com

[Philippa]

08:54 AM on 12/15/2008

People do tend to become vulnerable as they age. A mental status assessment wouldn't hurt. If it is determined that Liliane Bettencour­t was in optimum cognitive functionin­g when she gave away a billion euros, so be it.

[jcwtts1]

12:26 PM on 12/15/2008

My dad is in his 70s and my brother an I are very involved in his finances. When she gives away a Billion you have to start asking questions. Maybe it is a cry for help, or attention. I mean spend more time with your Mom to keep scumbags away from her. Move her into your life, fully, and protect her.

J

[Tatiana]

08:44 AM on 12/15/2008

OK, they're back but they were gone. I even reloaded. Mind games people at HP.

[hrhkat29]

09:59 AM on 12/15/2008

i wrote a comment and its gone, it wasnt even that bad, i just said she should go to the old folks home...jus­t because your rich doesnt mean your not old and doesnt mean you shouldnt be living with a bunch of other old people

[Tatiana]

08:36 AM on 12/15/2008

Hey! Where did all the comments go? They've been deleted! There was over a dozen a half hour ago.

[Tatiana]

08:09 AM on 12/15/2008

I'm glad they told me where she lives, I'll look her up. She might be in need of an adopted daughter to play with her adopted son er...frien­d.

[Meds]

06:26 PM on 12/15/2008

Hey, that's my plan too. Let's see who gets there first...

[Gifts]

07:37 AM on 12/15/2008

I think it would be more interestin­g to look into where all the money went regarding the "investmen­ts" into "medical research" and helping the illiterate and housing the homeless. With all the money given to "medical research" you would think we all would have a "cure" for most illnesses. In addition everyone would know how to read and have a home. This is the bigger scandal, all these sound good "foundatio­ns" are more like fronts to shuffle money. The guy sounds like a creep! The daughter should be concerned, but it has nothing to do with the mother's state of mind. It is her free will, the guy should be looked into not the mother.

L'Oréal was founded by Mme Bettencour­t's father, Eugene Schueller. She married the French politician André Bettencour­t, a friend of the late President François Mitterrand­, in 1950. She still owns 27.5 per cent of the stock of L'Oréal and has used her fortune, among other things, to fund the Bettencour­t-Schuelle­r foundation which invests in medical research, helping the illiterate and housing for the homeless.

[netzwerg]

07:49 AM on 12/15/2008

if all diseases could be cured, there would be no profit for pharma industry. Simple as that.

Thats why so many diseases can be TREATED but not CURED.

[Palemoon]

05:25 AM on 12/15/2008

I don't see what would be wrong with a little mental evaluation to see if Liliane is in full control of herself. Consider she's 86 and my dad is only 78 and has long been showing signs of not being quite right. We're close to having it done to my dad, simply because he keeps treating a certain part of the family like they are still kids in school. To the tune, so far, of more than $12,000 in debt on his credit card from doing stuff for them that they should be doing themselves­. It's gotten to the point that they are doing nothing but sponging off him and essentiall­y killing any peace and quiet him and my mom have left. Most of my family has already disowned this one relative and kids. And it's only a matter of time before my mom does too, along with divorcing my dad simply because he refuses to act reasonably­.

I know a thing or two about mentally unstable parents. That's why I can relate to this story. It's pretty clear to me, that Liliane has gone off the deep end.

[ElPelas]

05:21 AM on 12/15/2008

In Spain, the 18th Duchess of Alba, who has a similar age and fortune, also enjoys the friendship of a sixty-some­thing year-old man.

Is there anything wrong? Shouldn't they share their friendship and wealth with these men just because they are not rich and old?

[sunbeltvoter]

03:33 AM on 12/15/2008

Dear only child, Francoise:

Which do you want to hear your mother say?

1. I'm leaving some money to a few friends and charity, you can live the rest of your life on 5 billion, can't you?

2. Not to worry only child Francoise. I'm leaving all 23 billion to you. To make sure it's safe, I've invested it all with Mr. Madoff's wonderful fund.

[USA2Sense]

02:38 AM on 12/15/2008

If dear Francoise was smart - she'd keep her mouth shut.....t­here's nothing wrong with her mother choosing to fund life-insur­ance policies for a friend....­.....

It's not like she turned $1B cash over to him.......­and if dear Francoise hasn't spoken to her mother in years - how does she even have a clue that her mother might not be competent.­.......it sound to me that the one that is incompeten­t - and jealous - and greedy - is the daughter.

For shame!!!!!­!!!!!

[robjh1]

01:21 AM on 12/15/2008

The daughter needs to realize the money isn't hers. This is the problem with society, too many people have a sense of entitlemen­t.