L’Oreal family in fight over $1 billion gift from matriarch to younger man

loreal
Liliane Bettencourt, 86, the heir to the L’Oreal cosmetics fortune, is fighting with her daughter, Francoise Bettencourt-Meyers, 55, over a $1 billion gift she has given a man 25 years her junior. The money was in the form of two life insurance policies in 2003 and 2006, as well as artworks and other gifts.

Liliane is reportedly worth $23 billion, and the family still holds a controlling stake in L’Oreal cosmetics. She is the richest woman in France. Her gentleman companion is Francois-Marie Banier, 61, a society photographer. Francoise claims that her mother has been charmed and manipulated into giving this man the gifts, and is suggesting that her mother is mentally impaired.

There were some reports that Liliane had cut her daughter out of her will.

But in an interview with the Journal du Dimanche, Bettencourt insisted she had done nothing to fritter away her capital, and that her daughter would inherit the family’s full 30-per cent stake in L’Oreal.

“She will get everything when I die,” she said, asking “What on earth has got into her?”

“What I gave to Francois-Marie Banier, although it is a large sum, is really not that much when put in proportion,” she said, without confirming the value of the gifts.
Bettencourt accused her 55-year-old daughter — with whom she has no contact — of acting out of “meanness” or to “settle old scores”.

“Jealousy could be part of it,” she said, suggesting her “introverted” daughter suffered in contrast with Banier, a flamboyant figure whose intimates have ranged from Salvador Dali to the Hollywood star Johnny Depp.

Sydney Morning Herald

The mother and daughter no longer have a personal relationship, Liliane says. Francois is being investigated in regards to the gifts. Liliane hasn’t been assesed for her mental imapirment, but suggests that she is fine, and saw a psychaitrist following her husband’s death last year, who found nothing wrong with her. How can a ‘friend’ get your life insurance policy when your husband is still alive? What is their relationship?

Liliane says, in regards to her being manipulated by the photographer, “Do you think I can be brought under someone’s thumb so easily?” No, she probably can’t, and maybe she’s turning into one of those delightfully stubborn elderly people, who realise that their time is running short and it’s time to stop getting bossed around by their kids. If Liliane wants to spend $1 billion on her ‘friend’ then let her. Because you’re worth it.

Photo credit: WENN.com

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10 Responses to “L’Oreal family in fight over $1 billion gift from matriarch to younger man”

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  1. annex says:

    I just LOVE those top two photos, they both look like they have a great sense of humour and by gum you’d need a sense of humour when there’s the $b word around.

    mmm he’s yummy

  2. 88modesty88 says:

    It’s her money, after all!

    And I can understand that the daughter may only be worried that her mum has dementia — but the daughter comes across as greedy and afraid of losing her (not-so-small)inheritance…

  3. Embee says:

    Hmmm…While there is certainly enough to go around, I can understand the daughter’s concern regarding a possible parasite. What else will he finagle from her mother? $1 billion is a LOT of money. To put it in perspective, 10 years ago a professor lectured us that with a billion dollars, we could spend $1 million/day for the rest of our lives and never exhaust the supply, assuming modest growth. Should the mother have just wanted to make her friend “comfortable” that amount is certainly excessive. Also, it may be galling to daughter that this guy is just handed cash in the form of life insurance proceeds. Although the daughter will get more, her inheritance comes with a sense of responsibility to her board and shareholders, as well as the pride and devotion to uphold what her family has built. This guy’s just a court jester, albeit a very welathy one, now.

  4. Larissa says:

    if she was my mother i´d do the same, regardless of my relationship with her!
    does this ppl ever donate 1 billion to charity? they could feed a whole country for years with that money!madness!!!!!!!!!!!!

  5. A.J. says:

    Her money, her choice, her business. Her daughter is hardly going to go without.

  6. Larissa says:

    well, it is her choice, but at the same time that´s why the world is in deep sh** and it won´t get any better than that!

  7. kate says:

    the daughter sounds selfish. she will be well taken of when the mother dies, so she should just live her life and not worry about it. just like with the anna nicole lawwsuit with her stepson that went on and on. in the end they both died young without it being resolved so what was the point of spending so much time and energy fighting over money?

  8. Judy says:

    30 Billion is a lot of cash and her daughter sounds greedy as hell. It is her mothers right to do as she pleases while it is HER money. hen that gfreedy kid of hers gets a hold of it she cxan roll in it on the bed in the meantime she just needs to shut up. Now I can see she and her mother have no relationship.

  9. Judy says:

    One more thing if this was me and my kid was pulling this crap ,if I cold I would change my will lol and she would get zilch.

  10. sissou says:

    “There were some reports that Liliane had cut her daughter out of her will” : those were really uninformed reports !

    Children cannot be cut out of a will under French law.

    Her only daughter will get at least 1/2 of her estate – no stupid poodle can inherit its master’s millions in France, leaving children with nothing.