Leonard Lauder, the businessman who built Estee Lauder into one of the world's biggest cosmetic makers, has died aged 92. Lauder took over his parents company in 1958 and served as chief executive for 17 years. He was an accomplished dealmaker and bought brands including Clinique, Bobbi Brown and MAC. "He was an icon and pioneer, earning respect worldwide. His energy and vision helped shape our company and will continue to do so for generations to come", said Stephane de La Faverie, chief executive of the Estee Lauder. The New York-born billionare had an estimated wealth of $10.1bn (£7.5bn), according to the 2025 Forbes rich list. Lauder passed away on Saturday surrounded by his family, saidEstee Lauder in a statement. Born in 1933, he was the eldest son of Estee and Joseph Lauder. He served as a lieutenant in the US Navy before joining the family business aged 25. At the time, the firm's annual sales were less than $1m - about $11m in today's money. It is now a global cosmetics giant, operating in 150 countries with sales of $15.6bn last year. Lauder led the firm'sexpansion into Europe and Asiaand created its first ever research and development laboratory. He took the company public in 1995, with its share price rising 33% on the first day of trading in New York. Lauder stepped down as chief executive in 1999. He remained involved with the business and was chairman emeritus until his death. Celebrities and business people have been paying tribute to Lauder. Elizabeth Hurley, who got her first modelling job with his company, said on Instagram: "I called him my American Daddy and I can't imagine a world without him." Steve Forbes, editor-in-chief at Forbes Media, said Lauder "lived life well, & his passing is the world's loss'." "His legacy will be felt for generations to come," said multi-billionaire and former New York mayor, Mike Bloomberg. Away from business, Lauder was passionate about art. In 2013, he pledged his billion-dollar collection of Cubist artworks to the Metropolitan Museum of Art in New York. He was also an advocate for cancer research and served as the honorary chairman of the board of directors at the Breast Cancer Research Foundation.
Cosmetics icon Leonard Lauder dies aged 92
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"Leonard Lauder, Estee Lauder Chairman Emeritus, Dies at 92"
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Leonard Lauder, the influential businessman known for transforming Estee Lauder into a leading global cosmetics powerhouse, has passed away at the age of 92. He took over the family business in 1958, serving as chief executive for 17 years, during which he significantly expanded the company's portfolio by acquiring notable brands such as Clinique, Bobbi Brown, and MAC. Estee Lauder's current CEO, Stephane de La Faverie, praised Lauder as an icon and pioneer, acknowledging his remarkable energy and vision that shaped the company's trajectory. Under Lauder's leadership, the company grew from modest beginnings, with annual sales of less than $1 million in the 1950s, to a massive global entity generating $15.6 billion in sales last year, operating in 150 countries. Lauder's strategic decisions included the firm's expansion into European and Asian markets and the establishment of its first research and development laboratory. He also took the company public in 1995, achieving a 33% increase in share price on its first trading day in New York.
Lauder was born in 1933, the eldest son of Estee and Joseph Lauder, and served as a lieutenant in the US Navy before joining the family business at the age of 25. After stepping down as chief executive in 1999, he continued to contribute to the company as chairman emeritus until his death. Following the announcement of his passing, tributes poured in from celebrities and business leaders alike. Elizabeth Hurley, who began her modeling career with Estee Lauder, referred to him fondly on social media, expressing her disbelief at a world without him. Notable figures, including Steve Forbes and former New York mayor Mike Bloomberg, lauded Lauder's life and legacy, emphasizing the impact he had on the cosmetics industry and beyond. In addition to his business acumen, Lauder was a passionate art collector, famously donating his billion-dollar collection of Cubist artworks to the Metropolitan Museum of Art in New York, and he was an advocate for cancer research, serving as honorary chairman of the Breast Cancer Research Foundation.
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