World’s richest woman, Liliane Bettencourt, has died at age 94. She was the heiress to the L’Oreal cosmetics empire.

Her death was announced in a statement from Jean-Paul Agon, CEO at L’Oreal Group. She died Wednesday at her home in Neuilly, a suburb west of Paris.

Liliane Bettencourt was the only child of L’Oreal SA founder Eugene Schueller and owned about one-third of the company’s shares. During her lifetime, the Paris-based company grew from a small hair-dye supplier into the largest maker of beauty products with more than 30 brands including Lancome and Garnier sold in about 140 countries.

Bettencourt’s net worth was $42.5 billion, according to the Bloomberg Billionaires Index.

“Friendship, taste for life, knowledge, health. I would say that these are the things that are the most valuable,” Bettencourt said in a rare interview with French literary magazine L’Egoiste in 1988. “Everything that isn’t measured is what matters most.”

May her soul rest in peace.