15 Dec 2008

French photographer to receive €1 billion

Author:

Olivier Laurent

A French photographer, Francois-Marie Banier, is expected to receive nearly €1Bn from the L'Oréal matriach Liliane Bettencourt, now 86. The chief shareholder of the most successful cosmetics company is reported to have funded life insurance policies worth that amount to the benefice of the jet-set photographer. The eccentric Banier, also a philosopher and playwright, is apparently 'worth it', according to Bettencourt. But now, her daughter is challenging the legitimacy of the insurance policies, claiming that her mom is vulnerable to abuse. The Independent has the full story here.

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