World's richest woman dies 'peacefully' at age 94 (photos)

- The heiress to cosmetics company L’Oreal, Liliane Bettencourt, has passed away

- She was the richest woman in the world with an estimated net worth of forty billion dollars

- Bettencourt passed away at age ninety-four

The heiress to L’Oreal cosmetic firm and the richest woman in the world, Liliane Bettencourt, has died at age ninety-four.

A statement announcing her death was released by her family. It was reported that she died peacefully overnight.

In 2012, Bettencourt was in news after she left the company and was diagnosed with dementia.

World's richest woman dies 'peacefully' at age 94 Photo Source: BBC

Her daughter Francoise Bettencourt-Meyers filed a lawsuit over concerns that her mother was being exploited by members of her entourage because of her declining health.

According to BBC, in 2008, a photographer who had befriended the heiress was gifted items worth hundreds of millions of dollars including paintings by Picasso and a 670-acre island in the Seychelles.

The heiress’ assets were placed in a trust controlled by her daughter.