Estee Lauder Chairman Emeritus Leonard Lauder passes away at 92

WEB DESK: Leonard Lauder, the influential businessman who transformed Estee Lauder into one of the world’s leading cosmetics companies, has died at the age of 92.

Lauder joined the family-owned firm in 1958 and served as its chief executive for 17 years. Renowned as a skilled dealmaker, he acquired key brands such as Clinique, Bobbi Brown, and MAC, significantly expanding the company’s portfolio.

Stéphane de La Faverie, CEO of Estee Lauder, praised him, stating, “He was an icon and pioneer, earning respect worldwide. His energy and vision shaped our company and will continue to influence future generations.”

Born in New York, the billionaire had an estimated net worth of $10.1 billion (approximately £7.5 billion), according to the 2025 Forbes list. Lauder passed away peacefully on Saturday, surrounded by his family, as confirmed by Estee Lauder.

Born in 1933, he was the eldest son of Estee and Joseph Lauder. Before entering the family business, he served as a lieutenant in the US Navy.

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When Lauder took over, the company’s annual revenue was less than $1 million—equivalent to about $11 million today. Under his leadership, Estee Lauder grew into a global cosmetics powerhouse, operating in 150 countries with last year’s sales of $15.6 billion. He spearheaded the company’s expansion into Europe and Asia and established its first dedicated research and development laboratory.

In 1995, Lauder took the company public, with its stock surging 33 percent on the first day of trading in New York. He stepped down as CEO in 1999 but continued to serve as chairman emeritus until his passing.

Many notable figures and celebrities have paid tribute to Lauder. Elizabeth Hurley, who launched her modeling career with his company, shared on Instagram, “I called him my American Daddy, and I can’t imagine a world without him.”

Steve Forbes, editor-in-chief of Forbes Media, remarked that Lauder “lived life well, and his passing is the world’s loss.” Billionaire and former New York City Mayor Mike Bloomberg also noted, “His legacy will be felt for generations to come.”

Beyond business, Lauder was passionate about art. In 2013, he donated his extensive collection of Cubist artworks, valued at over a billion dollars, to the Metropolitan Museum of Art in New York. He was also a committed advocate for cancer research and served as the honorary chairman of the board of the Breast Cancer Research Foundation.