Billionaire Liliane Bettencourt of L’Oréal Sells her Island in Seychelles for $60 Million

Liliane Bettencourt who is best known as the L’Oréal heiress ranks high amongst the billionaires of the world with a net worth of $23.5 billion. She is a businesswoman, socialite and a philanthropist. She has been in the news recently for selling her private D’Arros Island in the Seychelles to an offshore company affiliated with Swiss-based Save Our Seas Foundation. The deal is reported to be worth$60 million plus $10.5 million for stamp duty and other taxes. The island has been taken over with the intention of turning the land into a nature reserve. Mrs. Bettencourt has been under investigation by the French Tax authorities who have ordered her to pay $133 million in taxes for undeclared accounts in Switzerland, Singapore and ownership of D’Arros Island. She Had Bought the Island in 1997 for $18 Million She had been at the center of a corruption investigation involving former French President Nicholas Sarkozy and that’s how her other assets came to light. The 89 year old heiress ...