The woman whose old age was clouded by dementia, died at the age of 94, her family says.
“Liliane Bettencourt died last night at home,” her daughter Françoise Bettencourt Meyers said in a statement on Thursday. “My mother left peacefully.”
Bettencourt was the 14th richest person in the world, according to Forbes magazine, which estimated her net worth in March at €33bn (£29bn).
She was rarely seen in public since leaving the L'Oreal board in 2012, but her name remained in the headlines as members of her entourage were charged with exploiting her failing mental health.