Liliane Bettencourt

French billionaire Liliane Bettencourt, heir to the L'Oreal cosmetics fortune, is widely considered to be the wealthiest woman in the world. In 2008, Forbes magazine estimated Bettencourt's wealth at $22.9 billion.Forbes: #17 Liliane Bettencourt
In December 2008, reports surfaced that Bettencourt had entrusted part of her fortune to alleged Ponzi schemer Bernard Madoff. According to Bloomberg, Bettencourt invested the money through the hedge fund Access International Advisors, run by manager Rene Thierry Magon de la Villehuchet. On December 23, 2008, Villehuchet was found dead of an apparent suicide in his Manhattan office.Bloomberg.com: L'Oreal Heiress Bettencourt Invested With Madoff
Family Troubles

Liliane Bettencourt's daughter, Francoise Bettencourt Meyers, filed a lawsuit against photographer Francois-Marie Banier, claiming he was attempting to take advantage of her mother. Meyers claims Banier charmed her mother into giving him $1 billion worth of insurance money and paintings.Telegraph: L'Oreal heiress asks Sarkosy to halt inquiry... On December 21, 2008, Bettencourt said she would "never see her daughter again" as a result of Meyers' allegations.Times Online: ...L'Oreal heiress disowns daughter in cash dispute