The entrepreneur who turned Estee Lauder into one of the largest cosmetics companies in the world, Leonard Lauder, passed away at the age of 92. In 1958, Lauder began working for his parents’ business, where he spent 17 years as CEO. Being a skilled negotiator, he acquired companies such as MAC, Clinique, and Bobbi Brown.
He gained admiration worldwide as a pioneer and symbol. Stephane de La Faverie, CEO of Estee Lauder, stated, “His enthusiasm and vision helped shape our company and will continue to do so for generations to come.” The 2025 Forbes Rich List assessed the New York-born billionaire’s wealth at $10.1 billion (£7.5 billion).
According to a statement from Estee Lauder, Lauder died on Saturday while he was with his family. He was Estee and Joseph Lauder’s eldest son, born in 1933. Prior to entering the family company, he was a lieutenant in the United States Navy.
The company’s yearly revenues at the time were around $1 million, or roughly $11 million in today’s currency. With sales of $15.6 billion last year, it is now a multinational cosmetics behemoth with operations in 150 countries.
Lauder established its first research and development centre and spearheaded its growth throughout Europe and Asia. In 1995, he went public with the firm, and on the first day of trading in New York, the share price increased by 33%.
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