In 1987 Bettencourt, together with her husband and daughter, founded the Bettencourt Schueller Foundation (la Fondation Bettencourt Schueller) to support and develop medical, cultural and humanitarian projects. The Foundation is based in Neuilly-sur-Seine, France.
The Foundation, which benefits from assets of 150 million Euros and an annual budget of approx 15 million Euros devotes approximately 55% of its funds to scientific education and research, 33% to humanitarian and social projects and 12% to culture and arts.It sponsors prizes through which funds are disbursed to various recipients. For example, the “Liliane Bettencourt Prize for Life Sciences” is an annual award to a top European biomedical researcher under the age of 45. Winners receive €250,000 to support their work in the field of life science.