Son of Estée Lauder, who took the model world, dies aged 92
Leonard Lauder, the businessman who constructed Estée Lauder into one of many world’s largest beauty makers, has died aged 92.
Lauder joined his mother and father’ firm in 1958 and served as chief govt for 17 years. He was an achieved dealmaker and purchased manufacturers together with Clinique, Bobbi Brown and MAC.
“He was an icon and pioneer, incomes respect worldwide. His vitality and imaginative and prescient helped form our firm and can proceed to take action for generations to return”, stated Stephane de La Faverie, chief govt of Estée Lauder.
The New York-born billionaire had an estimated fortune of $10.1bn (£7.5bn), based on the 2025 Forbes wealthy listing.
Lauder handed away on Saturday surrounded by his household, stated Estée Lauder in a press release.
Born in 1933, he was the eldest son of Estée and Joseph Lauder. He served as a lieutenant within the US Navy earlier than becoming a member of the household enterprise.
On the time, the agency’s annual gross sales had been lower than $1m – about $11m in at this time’s cash. It’s now a world cosmetics big, working in 150 international locations with gross sales of $15.6bn final 12 months.
Lauder led the agency’s growth into Europe and Asia and created its first ever analysis and improvement laboratory.
He took the corporate public in 1995, with its share value rising 33% on the primary day of buying and selling in New York.
Lauder stepped down as chief govt in 1999. He remained concerned with the enterprise and was chairman emeritus till his demise.
Celebrities and enterprise individuals have been paying tribute to Lauder.
Elizabeth Hurley, who bought her first modelling job along with his firm, stated on Instagram: “I known as him my American Daddy and I am unable to think about a world with out him.”
Steve Forbes, editor-in-chief at Forbes Media, stated Lauder “lived life nicely, & his passing is the world’s loss’.”
“His legacy can be felt for generations to return,” stated multi-billionaire and former New York mayor, Mike Bloomberg.
Away from enterprise, Lauder was keen about artwork. In 2013, he pledged his billion-dollar assortment of Cubist artworks to the Metropolitan Museum of Artwork in New York.
He was additionally an advocate for most cancers analysis and served because the honorary chairman of the board of administrators on the Breast Most cancers Analysis Basis.