Billionaire cosmetics heir Lauder had a secret key to success

New York | Leonard Lauder, who built Estée Lauder into one of the world's biggest cosmetics makers and catapulted himself into the top echelon of wealthiest New Yorkers, has died. He was 92.
Lauder died on June 14 surrounded by family, according to a statement by Estée Lauder.
Bloomberg

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Leonard Lauder, eldest son of Estée Lauder founders and former CEO, dies aged 92

Leonard Lauder, the eldest son of Estee Lauder founders Estee and Joseph Lauder, has died aged 92, the cosmetics company has announced in a statement. The chairman emeritus and ex-CEO died surrounded by his family. "Above all, my father was a man who practiced kindness with everyone he met. His impact was enormous," his son WiIliam Lauder wrote in the statement. "He believed that employees were the heart and soul of our company, and they adored him and moments spent with him. "His warmth and thoughtfulness made an imprint on our company, the industry, and, of course, our family. Together with my family, The Estée Lauder Companies, and the countless people he touched, we celebrate his extraordinary life." Leonard Lauder was born in 1933 in New York City. He studied at Columbia University's Graduate School of Business and served as a lieutenant in the US Navy. He formally joined Estée Lauder in 1958, and was with the company for more than 60 years. "Mr Lauder was a visionary and an innovator, helping transform the business from a handful of products sold under a single brand in US stores to the multi-brand, global leader in prestige beauty that it is today," the statement said. He served as president of the company from 1972 to 1995 and as chief executive officer from 1982 through 1999. He was named chairman in 1995 and served in that role through June 2009. He led the launch of brands such as Aramis, Clinique and Lab Series. He created the company's first research and development laboratory, brought in professional management at every level, and was the driving force behind The Estée Lauder Companies' international expansion, helping to increase the company's sales and profits exponentially. Until his death he remained involved in the company's acquisition of Aveda, Bobbi Brown, Jo Malone London, La Mer and MAC. "Throughout his life, my father worked tirelessly to build and transform the beauty industry, pioneering many of the innovations, trends, and best practices that are foundational to the industry today," William Lauder said. Stéphane de La Faverie, the current president and chief executive officer of Esteee Lauder Companies, said Leonard lauder was beloved by many. "To our employees at The Estée Lauder Companies, he was an inspiration and a champion. To the industry, he was an icon and pioneer, earning respect worldwide." Leonard Lauder was also known for his charitable contributions to medical research, education and the arts. He donated his collection of Cubist works to the New York Metropolitan Museum of Art, estimated to be worth about $US1 billion ($1.5 billion). He was a long-time advocate of cancer research and served as honorary chairman of the board of directors at the Breast Cancer Research Foundation, the organisation his beloved late-wife, Evelyn Lauder, founded in 1993. He also championed the fight against Alzheimer's by co-founding and leading the Alzheimer's Drug Discovery Foundation with his brother, Ronald Lauder, which supports drug research. "My father was a remarkable man, a leader in business, a devoted philanthropist, and a deeply loving father, grandfather, and great-grandfather," said his son Gary Lauder. Elizabeth Hurley, who got her first modelling job with his company, wrote on Instagram: "I called him my American Daddy and I can't imagine a world without him." Former mayor of New York City Michael Bloomberg wrote on social media that Leonard lauder was "one of New York City's most devoted and generous philanthropists". "He championed a host of causes without asking for any public credit — embodying the ethic of service that his family continues to carry forward today," he said. He was married to Evelyn Lauder from 1959 until she passed away in 2011. He remarried Judy Glickman Lauder, a philanthropist and internationally recognised photographer. "Leonard lauder was grateful to his wife, Judy, for widening his family circle and cherished his stepchildren and their families," the statement said. "But mostly, he was extraordinarily proud of both of his sons, their families, and his grandchildren and great-grandchildren. He loved them so dearly."

AU Financial Review

15-06-2025

• AU Financial Review

Billionaire cosmetics heir Lauder had a secret key to success

New York | Leonard Lauder, who built Estée Lauder into one of the world's biggest cosmetics makers and catapulted himself into the top echelon of wealthiest New Yorkers, has died. He was 92. Lauder died on June 14 surrounded by family, according to a statement by Estée Lauder. Bloomberg