(Image Source: euronews)
BY EMOKE BEBIAK
ANCHOR ANA COMPAIN-ROMERO
One day a billionaire, the next day, well, not. 88-year-old L’Oreal heiress Liliane Bettencourt lost access to her $20 billion dollar fortune after a family dispute was decided in court.
“A court in France has ruled that the country's richest woman, Liliane Bettencourt, be placed under the guardianship of her grandson and that her vast fortune be managed by her daughter.”
The Telegraph reports the judge decided Bettencourt was unfit to manage her wealth based on....
“...a medical report which found the heiress is suffering from ‘mixed dementia’ and ‘moderately severe’ Alzheimer's disease.”
According to Al Jazeera, Bettencourt’s family says her condition makes her an easy target for scam.
“The judge agrees with Bettencourt’s family that says that Bettencourt is such in (sic) a vulnerable position that it allows her entourage to take advantage of her wealth for their own personal gains.”
The BBC adds--the family might rightly be concerned about Bettencourt’s handling of the fortune saying...
“The row initially centred on celebrity photographer Francois-Marie Banier who is believed to have received about 1bn euros worth of gifts from Mrs Bettencourt ... A legal case against him was eventually dropped, but not before other allegations had surfaced about how Mrs Bettencourt's money was possibly being lavished on politicians.”
Bettencourt is furious about the ruling. According to the Independent, she told a French newspaper earlier...
“If that happens, I'm going abroad ... If my daughter was in charge of me, I would suffocate ... I would have no more desire to live.”
The Wall Street Journal adds L’Oreal shareholders are also concerned about Bettencourt being a member of the company’s board, as many see her as mentally unfit for the position.
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