LOreal family in fight over $1 billion gift from matriarch to younger man

Liliane Bettencourt, 86, the heir to the LOreal 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.

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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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