L'Oreal Heiress Liliane Bettencourt Dies at 94

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She was the world's richest woman.

The family of L'Oreal cosmetics heiress Liliane Bettencourt, the world's richest woman, says she has died at her home in France at the age of 94.

Bettencourt's daughter, Françoise Bettencourt Meyers, said in a written statement on Thursday that her mother "left peacefully" overnight.

Liliane Bettencourt was the daughter of Eugene Schueller, who founded L'Oreal in the early 20th century.

Forbes magazine estimated her fortune to be worth $39.5 billion this year.

L'Oreal chairman and CEO Jean-Paul Agon expressed "great admiration" for Bettencourt.

Agon said she "always looked" after the company and its employees, and "she has personally contributed greatly to its success for many years."