Son of Estee Lauder, who took the brand global, dies aged 92
Summary
Leonard Lauder, who played a major role in making Estee Lauder a global cosmetics brand, has passed away at the age of 92. He joined the family business in 1958, led it for many years, and helped acquire other well-known brands. He was known for his contributions to both the business and in philanthropic areas like art and cancer research.Key Facts
- Leonard Lauder was the son of Estee and Joseph Lauder and joined their company in 1958.
- He was the chief executive of Estee Lauder for 17 years.
- Under his leadership, the company expanded internationally and acquired brands like Clinique, Bobbi Brown, and MAC.
- Lauder took the company public in 1995, with the stock price rising 33% on the first day.
- By the time he stepped down as chief executive in 1999, Estee Lauder had become a global giant.
- He was involved in cancer research advocacy and held a role at the Breast Cancer Research Foundation.
- Lauder had a notable art collection, which he pledged to the Metropolitan Museum of Art.
- At the time of his passing, Leonard Lauder was considered a billionaire with an estimated fortune of $10.1 billion.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.