Bettencourt, listed by Forbes as the world's richest woman, was the heiress to the beauty and cosmetics company her father founded a century ago as a maker of hair dye.
Bettencourt and her children owned 33 percent of the company. Her daughter Francoise Bettencourt-Meyers said in a statement the family remained committed to L'Oreal and its management team.
"My mother left peacefully," Bettencourt-Meyers said, adding that she had died during Wednesday night at her home in Paris.
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