FIRST AIRED: September 22, 2017

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00:00:00
>> The billionaire heiress of French L'Oreal Liliane Bettencourt has died. Forbes ranked her as the world's richest woman, with a net worth exceeding $40 billion, thanks to her inheritance stake in the beauty and cosmetic's giant founded by her father a century ago. But she had been under the guardianship of family members since a high profile court fight known as the Bettencourt affair ended with a ruling in 2011 that she wasn't able to look after her fortune due to dementia.
00:00:28
The case dogged the heiress for years and centered on a celebrity photographer, who befriended Bettencourt in the 1980s and who received lavish gifts from her, including life insurance policies worth $400 million. Former French President Nicolas Sarkozy was also included in a subsequent probe into whether he exploited Bettencourt's mental frailty to fund his 2007 election campaign.
00:00:50
The court eventually dropped the inquiry and Sarkozy denied any wrongdoing. Bettencourt died on Wednesday night, she was 94.