Liliane Bettencourt, L’Oreal heiress and world’s richest woman, dies at 94

Liliane Bettencourt, the billionaire heiress of the cosmetics company L'Oreal, has died at the age of 94.

Bettencourt, whose family founded L'Oreal and now owns a 33 percent stake in the company, died "peacefully" in her home on Wednesday night, according to a statement from her daughter Françoise Bettencourt Meyers sent to The Guardian on Thursday.

"In this painful moment for us, I would like to reiterate, on behalf of our family, our entire commitment and loyalty to L'Oreal and to renew my confidence in its President Jean-Paul Agon and his teams worldwide," Meyers said.

Bettencourt was named the world's richest woman back in March in Forbes' annual list of billionaires. At the time, she was estimated to be worth $39.5 billion. The next richest woman on the list was Wal-Mart's Alice Walton, with an estimated worth of $33.8 billion.

RELATED: 10 richest women in the world, 2017

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10 richest women in the world of 2017

Former No. 1. Liliane Bettencourt

Net worth: $39.3B

Origin of wealth: L'Oreal

Via Forbes

Current No.1 Alice Walton

Net worth: $34.3B

Origin of wealth: Wal-Mart

Via Forbes

2. Jacqueline Mars

Net worth: $27.2B

Origin of wealth: Candy

Via Forbes

3. Maria Franca Fissolo

Net worth: $25.3B

Origin of wealth: Nutella, chocolates

Via Forbes

4. Susanne Klatten

Net worth: $20.5B

Origin of wealth: BMW, pharmaceuticals

Via Forbes

5. Laurene Powell Jobs

Net worth: $20.2B

Origin of wealth: Apple, Disney

Via Forbes

6. Gina Rinehart

Net worth: $14.5B

Origin of wealth: Mining

Via Forbes

7. Abigail Johnson

Net worth: $14.4B

Origin of wealth: Money management

Via Forbes

8. Iris Fontbona

Net worth: $13.1B

Origin of wealth: Mining

Via Forbes

9. Charlene de Carvalho-Heineken

Net worth: $12.7B

Origin of wealth: Heineken

Via Forbes

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