Leonard Lauder, the renowned businessman who transformed Estée Lauder into a global cosmetics powerhouse, has died at the age of 92. His passing occurred on Saturday, surrounded by family, as confirmed by Estée Lauder. Born in 1933 as the eldest son of Estée and Joseph Lauder, he began his illustrious career in the family business in 1958, where he served as the chief executive for 17 impactful years.
Under his leadership, the company expanded its reach into Europe and Asia and made significant acquisitions, including Clinique, Bobbi Brown, and MAC. Notably, Lauder initiated groundbreaking efforts by establishing the firm's first research and development laboratory, further solidifying its position in the industry. His business acumen led to a successful public offering in 1995, where share prices soared by 33% on their opening day.
With an estimated net worth of $10.1 billion, Lauder was not only a formidable force in business but also a respected figure and art enthusiast. His generosity extended to the art world; in 2013, he pledged his billion-dollar collection of Cubist artworks to the Metropolitan Museum of Art in New York. Additionally, he was committed to philanthropic efforts, notably serving as the honorary chairman of the board of directors at the Breast Cancer Research Foundation.
Lauder's legacy is celebrated by many, including celebrities and business leaders. Elizabeth Hurley expressed her sentiments on social media, reminiscing about her first modelling job with his company, while legendary billionaire Mike Bloomberg noted that Lauder’s influence will reverberate through generations. Leonard Lauder’s contributions to cosmetics, art, and cancer research have forged a lasting impact that will be remembered for years to come.
